Month: May 2017

Contribution Splitting in a SMSF

Splitting concessional contributions amongst members or spouses can be an effective strategy provided that you benefit in the following ways. 1) It creates a Tax-free portion for the receiving spouse – like a re-contribution strategy 2) It’s tax deductible for the contributing spouse ( subject to PSI or the 10% income test) if they are … Continue reading Contribution Splitting in a SMSF

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Depreciation Changes Budget 2017

Depreciation is the natural wear and tear that occurs to a building and the assets within it over time and it’s one of three (3) key tools property investors use to make holding investment property more affordable and tax effective. The proposed new laws to depreciation will result in a reduction in the depreciation for … Continue reading Depreciation Changes Budget 2017

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SMSF Deductions

SMSF PROPERTY DEDUCTIONS One of the great benefits of property in an SMSF is the raft of available deductions. Expenses that are likely to be deductible include bank charges, brokerage, filing fees, fines, interest paid insurance premiums, valuation and storage costs, property expenses, relevant training courses, subscriptions, administration software fees. Some of the common property … Continue reading SMSF Deductions

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SMSF Compliance Breaches

SMSF COMPLIANCE BREACHES SMSF COMPLIANCE BREACHES The ATO’s recent report has highlighted a few common breaches. This article will explore these breached in more detail to assist SMSF’s and Acquiring Assets from Family and Associates Let us first establish who a related party of an SMSF is? They can be: Parents, brothers, sisters, Aunts and … Continue reading SMSF Compliance Breaches

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What types of property can i buy with SMSF?

WHAT PROPERTY CAN I BUY IN A SMSF These are some answers to common SMSF property related questions. 1: Can I sell an existing investment property or my home I own, into my SMSF? A: NO, You cannot sell an existing investment property or a principal place of residence to your SMSF as this is … Continue reading What types of property can i buy with SMSF?

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