Clients with self-managed superannuation funds (SMSF) often ask what assets the SMSF can acquire.
The golden rule for acquiring assets inside your SMSF is why? To be compliant, your fund must be maintained for the sole purpose of
providing retirement benefits to members, or to their dependants if a member dies before retirement. The sole purpose test (section 62 of
the Superannuation Industry (Supervision) Act 1993), is your starting point. If the collectible you are looking to acquire does not
fulfil this purpose, then you have an immediate problem.
Let’s assume you are looking to acquire vintage cars. The question to ask is, is the acquisition a viable investment or simply a desire of
the members to own vintage cars. Does the investment ‘stack up’ relative to other forms of investment to build/protect the retirement
savings of members?
Car loan refinancing involves replacing your existing car loan with a new one. The new loan pays off your existing debt, allowing you to start making payments on the refinanced car loan.
Lenders often view job stability and income consistency as key factors in their loan approval process, which can make it tricky if you're settling into a new role.
Making an offer on a property for the first time is both exciting and nerve-racking. It’s important to take several steps to ensure you’re making a well-informed decision
Melbourne's housing market has experienced a significant shift in recent years, with its median dwelling value now ranking sixth-lowest among Australia's capital cities.
Refinancing your home loan can be a great way to save money, but it’s important to avoid common pitfalls.
Discover 9 essential financial planning tips to help new and expecting parents manage the costs of parenthood with confidence and ease.
The Taxable Payments Annual Report (TPAR) is a mandatory report for Australian businesses in certain industries to disclose contractor payments to the ATO by August 28 each year, ensuring accurate tax reporting.
Starting July 1st, 2024, non-profit organisations (NFPs) in Australia with an ABN, but not recognised as charitable, must annually submit a NFP self-review return to the ATO to confirm their tax exemption status. This process involves three main sections: