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Tax returns

Tax returns are relevant for individuals and for SMSF trustees when making the most of superannuation opportunities. An individual must lodge a tax return to claim a tax deduction for concessional contributions (if self-employed or not employed), or if they wish to receive a co-contribution, or claim a tax offset on spouse contributions and for other superannuation purposes. A SMSF trustee must lodge an annual tax return on behalf of the SMSF, and large non-SMSF super funds must also lodge an annual return.

Are SMSF audits too expensive?

Are SMSF audits too expensive?

March 18, 2011

Q: I have noticed that SMSF auditors and administrators are charging what appears to be rather high costs, perhaps because of the mandatory nature of these audits. I have also noticed some online providers, including one that flatly refused to provide me with the name of their auditors.

Federal Budget 2010: Psst! The Government is giving away hundreds of dollars, but there’s a catch

Federal Budget 2010: Psst! The Government is giving away hundreds of dollars, but there’s a catch

May 11, 2010

Writing about tax returns is not strictly a topic for a superannuation website, but since the Federal Government released all the exciting super stuff the week before the Federal Budget, I have time to explain some of the other wealth-creating policies announced by the Government.