ATO / Contributions / SMSF / SMSF Compliance

de minimis to help with contribution maximus

For several years now, many people and professional bodies within the financial services industry have been pushing to address the inequalities in respect to excess contributions tax (ECT).  So it was pleasing recently to read via Peter Burgess, National Technical Director of SPAA that the Australian Taxation Office (ATO) had recently indicated in a Superannuation … Continue reading »

ATO / Contributions / Pensions / Professionals / SMSF / SMSF Compliance / Trustee education

The pension trap with deductible contributions

Whilst many people continue to maximise contributions into super, I have recently come across an issue that presents a timely reminder around understanding the rules for deductible member contributions. I was approached recently by an accountant whose client had made $500,000 in-specie contribution of listed shares into a SMSF.  Of this contribution, $50,000 was to … Continue reading »