Property to remain at top of ATO’s hit list

  One national accounting network has tipped that SMSF property investment will be a big-ticket item on the compliance agenda in 2016.

Dying Without a Will

  Many will be surprised (possibly unpleasantly) by the formula prescribed in various states legislation, if a person dies without a valid will.

Mortgages, personal debt and retirement

  Ideally, we would enter retirement with our home mortgages paid off and completely free of any other kind of debt.

Cost of retirement continues to climb

  The Association of Superannuation Funds of Australia (ASFA) retirement standard for the December quarter shows living costs for retirees have risen once again.

Personal finance goes ‘viral’

  Home videos of animals or babies often seem to go viral on the internet. But have you heard about a list of personal finance tips going viral on the net?

ATO warns on poor asset records causing SMSF breaches

  The ATO has stressed the importance of clearly distinguishing SMSF assets, with some funds losing assets to lenders following personal debts because they were not recorded correctly.

When is an unallocated contribution account a reserve?

  The ATO interpretative decisions and tax determinations on this issue refer to contributions being allocated to an “unallocated contribution account”.

Market Update – 31st January 2016

A snapshot of the key points for January 2016