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North Advisory Accountancy Blog

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ATO issues warning on unusually high deductions

Posted October 25, 2016 by North Advisory

The ATO has issued a warning that they are paying extra attention to taxpayers claiming higher than expected deductions for the 2015/16 income year. Assistant…

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Government releases more superannuation legislation

Posted October 4, 2016 by North Advisory

On 27 September 2016 the Government released another round of draft legislation implementing a number of the changes to superannuation it announced in the 2016 Federal Budget.

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Can your SMSF buy your business?

Posted September 22, 2016 by North Advisory

At first glance, the SMSF would not be able to acquire the property from the member because they are a related party of the SMSF.

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Are you clear on what non concessional contributions you can contribute in a year?

Posted September 21, 2016 by North Advisory

With the Government abandoning its policy to introduce a $500,000 lifetime cap for non-concessional contributions you can make to superannuation

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Is your SMSF SuperStream Ready?

Posted September 20, 2016 by North Advisory

All self-managed super funds (SMSFs) now need to be able to receive SuperStream-compliant contributions. To do this, you will need to provide the following details…

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Small business turnover threshold to increase to $10m

Posted September 15, 2016 by North Advisory

The small business entity turnover threshold will be increased from $2m to $10m from 1 July 2016. The increased threshold means businesses with an annual…

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$500k Lifetime Cap to be Scrapped

Posted September 15, 2016 by North Advisory

The Turnbull government has reportedly made significant changes to its superannuation reform package, including scrapping controversial plans for a lifetime cap of $500,000 on non-concessional…

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A Positive Coming out of the Proposed Super Changes

Posted September 13, 2016 by North Advisory

Treasurer Scott Morrison’s release last week of the first tranche of new super legislation has been welcomed by the industry, but it digs an even…

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Lending Money to Your SMSF

Posted September 12, 2016 by North Advisory

One of the lessor known benefits of having a SMSF is the flexible financing options that are available. Many SMSF trustees still don’t realise they…

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What Can my SMSF Invest In

Posted September 9, 2016 by North Advisory

The benefits of having a SMSF is you have the power to make the investment decisions. You have freedom to select investments that you think…

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