Latest Accounting News
Hot Issues
State and Federal COVID-19 support
Lockdowns and mental health
Unemployment rate falls to 12-year low
ATO issues warning to first-time investors
World's largest armies 1816 - 2020
Extra 'super' step when hiring new employees
Pitfalls and proposed changes in the use of R&D tax incentives
Government expands SME loan scheme eligibility
COVID-19 disaster payments to be tax-free: Prime Minister Scott Morrison
‘Nowhere to hide’: New gig economy reporting regime set to debut
Hardship priority processing of tax returns
ATO Small Business Newsroom - July / August
Videos and other resources for our clients
‘Mammoth consequences’: ATO’s NALI ruling draws ire from accountants
Superannuation Guarantee Rates Reminder
NSW support measures, plus update for payroll tax.
Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
Year-end tax planning
Home Office & end of 2021 tax year
ATO extends STP finalisation due date
Super transfer balance cap increase from 1 July 2021
ATO extends Division 7A COVID-19 relief
Tax implications - more than one job
Tax mix to rely more heavily on income tax as the Treasurer ducks austerity
10% Super Guarantee from 1st July 2021
End of year financial strategies
Closely held payees: STP options for small employers
Videos to help understand accounting topics.
Articles archive
Quarter 2 April - June 2021
Quarter 1 January - March 2021
Quarter 4 October - December 2020
Quarter 3 July - September 2020
Quarter 2 April - June 2020
Quarter 1 January - March 2020
Quarter 4 October - December 2019
Quarter 3 July - September 2019
Quarter 2 April - June 2019
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 3 July - September 2014
Quarter 2 April - June 2014
Quarter 1 January - March 2014
Quarter 4 October - December 2013
Quarter 3 July - September 2013
Quarter 2 April - June 2013
Quarter 1 January - March 2013
Quarter 4 October - December 2012
Quarter 3 July - September 2012
Quarter 2 April - June 2012
Quarter 1 January - March 2012
Quarter 4 October - December 2011
Quarter 3 July - September 2011
Quarter 2 April - June 2011
Quarter 1 January - March 2011
Quarter 4 October - December 2010
Quarter 3 July - September 2010
Quarter 2 April - June 2010
Quarter 1 January - March 2010
Quarter 4 October - December 2009
Quarter 3 July - September 2009
Quarter 2 April - June 2009
Quarter 1 January - March 2009
Quarter 4 October - December 2008
Quarter 3 July - September 2008
Quarter 2 April - June 2008
Quarter 1 January - March 2008
Quarter 2 April - June 2007
Quarter 2 April - June 2006
Quarter 1 of 2012
Articles
Australian Securities & Investment Commission (ASIC) - Register of Charges Expires
Business Names Reform Update
New Restrictions on SMSF Investment in Artworks, etc
Employer Superannuation Obligations
Centrelink Benefits - How Work Affects Your Payments
Family Trusts - Complexity Increases, and so will costs
Do you need to lodge an income tax return?
New Restrictions on SMSF Investment in Artworks, etc
Changes have been made to prevent self-managed superannuation fund (SMSF) trustees from gaining current day benefit from the fund.

This is the reason for limiting future investment in collectables and other personal use assets, for example artwork, jewellery, antiques, coins and stamps, wine or spirits and motor vehicles.  

The regulations are designed to ensure such investments are made for genuine retirement income purposes only.  Your adviser can explain these complex exemptions, which will nevertheless often mean that the investment will be prohibited.

Although the new regulations commenced on 1 July 2011, there is a five-year transitional period for assets that were held by an SMSF as at 30 June 2011.  



14th-March-2012