With the end of the financial year fast approaching, now is the perfect time to make some final checks and ensure everything is in order for your SMSF before 30 June. The following are some matters that you might want to know more about, particularly...
SMSFs are not for everyone, but for those individuals where an SMSF is entirely appropriate for them, the benefits can be considerable. In the context of ongoing public debate regarding the appropriate minimum size for an SMSF, new research has been provided to provide insights into...
The Australian Government has recently announced additional support for households and businesses during the COVID-19 pandemic. These changes are summarised below and are yet to be legislated. For more information, please visit the Treasury department’s Economic response to the Coronavirus. Extension of JobKeeper Payment The JobKeeper Payment has...
The 2019/20 financial year is now firmly behind us. Going into the new financial year we will see changes to superannuation, tax concessions for small businesses, penalty rates, minimum wages and much more. The new set of changes will affect almost everyone including individuals, families,...
Despite well formulated investment strategies and appropriate investment advice, no trustee could have foreseen the impacts of COVID-19 on financial markets globally. Whilst history suggests that a strong recovery is likely within a relatively short period after large market corrections, it is still too early...
The COVID-19 pandemic has affected everyone’s lives, and SMSF trustees are no exception. While the worst of the pandemic is (hopefully) behind us, trustees still have difficult questions to ponder as they focus on how best to position their SMSF in 2020-21, as well as meet...
The economic impacts of the COVID-19 crisis are causing significant financial distress for many businesses and individuals. If your SMSF has a related party loan and is impacted due to the financial effects of COVID-19, you may be able to provide your LRBA with relief under...
The Federal Government has now passed legislation and accompanying rules that govern how the $1,500 / fortnight JobKeeper payments will work. At dnm group we are committed to bring you all the latest information in regard to the new Jobkeeper scheme. Below is a summary of...
The Victorian Government has announced tax measures to support businesses through Victoria’s State of Emergency, as part of a broader economic survival package in response to COVID-19. Pay Roll Tax Waived – Tax Relief FAQsLiquor licence fees waived - Tax Relief FAQsLand Tax Deferral - Tax Relief FAQs *It...
The Federal Government has announced its second $66B economic responses which, combined with its previous announcement, total $189 billion across the forward estimates. There are some important proposals that will likely have significant impact to clients. Below you’ll find a round up on whats been...