Accessing money in your SMSF

Accessing money in your SMSF

The ATO has made a call to professional accountants to help identify and manage illegal early access to superannuation by members of self-managed superannuation funds (SMSFs). In general, access to your super is only possible if: You retire and turn 60; or You turn 65...
Warning on SMSF asset valuations

Warning on SMSF asset valuations

The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices. ATO data analysis has revealed that over 16,500 self managed superannuation funds (SMSFs) have reported assets as having the same value for three consecutive years. With many of these...
The assault on professional services practices

The assault on professional services practices

The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax. Two new cases before the Administrative Appeals Tribunal demonstrate how serious the Australian Taxation Office (ATO) is about making sure professional...
Value influencers: How much is your business worth?

Value influencers: How much is your business worth?

For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business worth and what sets a high value business apart? Every business owner is naturally curious about just how...
Non-compete clauses and worker restraints under review

Non-compete clauses and worker restraints under review

A new issues paper from Treasury’s Competition Review questions whether non-compete clauses and other restraints are limiting job opportunities and movement. A recent Australian Bureau of Statistics (ABS) survey found that 46.9% of businesses surveyed used some kind...