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Articles
Capital Gains Tax – which year?
SMSFs may be missing out on allowable deductions
Change to Early Access Rules
Checklist for Employers Year-end
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Reminders and Tax Strategies for SMSFs pre-year end
Year-end Tax Planning – Individuals
Tips and traps for acquiring SMSF assets from related parties
Overtime Payments May Eliminate Claims for Unfair Dismissal
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SME Dispute Resolution
Land Tax – Victoria
R&D incentives at risk
ATO adds ‘hot issue’ to its SMSF target list
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Salary and Superannuation after the death of an employee
IPA calls for zero pc tax rate
Budget 2015 - some professional opinions
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Lump Sum Payments - Employer Reporting
Small business tax cuts 'not enough', says IPA
Reminders and Tax Strategies for SMSFs pre-year end

 

A very brief and simplistic checklist for SMSF trustees to undertake well before 30 June 2015



             


  1. A member aged 49 or over can contribute up to $35,000 of concessional contributions (otherwise $25,000)
  2. Ensure sufficient days are allowed for clearance through the bank of contributions 
  3. Is it possible to predict self-employed persons income for the year and maximise the contributions to reduce assessable income?
  4. If excess contributions have been made in previous years, ensure that you don’t contribute again in breach of this.
  5. If you make a contribution and intend to start a pension, ensure that the notice of intent to claim a tax deduction is signed before commencement of the income stream
  6. If already in pension phase, have you drawn the minimum pension to retain the exempt status?
  7. Are you aware that not taking the minimum pension means that you have ceased taking the pension and therefore any pre 1 January 2015 pensions will be subject to the new deeming rules for age pension purposes?
  8. Administrative matters such as the existence or appropriateness of binding death benefit nominations, an update of investment strategy, an update to insurance requirements and review whether the deed is too old.



25th-June-2015
 

Stapleton Group: 83a Boronia Road Boronia VIC 3155 | Phone: (03) 9760 7800 | Fax: (03) 9760 7860