We’ve done it again! Petra has been shortlisted for the Australian Accounting Awards 2020, named as a finalist in the Australian Accounting Awards for Superannuation Specialist category. Accountants Daily’s Australian Accounting Awards showcases the industry’s most prestigious accolades recognising excellence across the entire accounting industry. The awards pinpoint professional development and innovation, showcasing both the individuals and firms which are leading the way in the industry.   Award recipients represent…  Read more

Whilst generally SMSF cannot acquire assets from related parties, there are some exceptions. SMSF can buy property from yourself, but strict rules apply: It must be a business real (commercial) property. The property must be used wholly and exclusively in one or more businesses (not necessarily in your business). Being zone for business use is not enough. The property must be transferred at market value. If your SMSF pays less…  Read more

Can your SMSF borrow? The technical answer is no, however, since 2007 they are allowed to enter into limited recourse borrowing arrangements. If done right, and if you considered your investment strategy, the risks that come with borrowing, the sole purpose of your fund, then they can really help you get ahead. You should always start with reading your deed and considering what you are trying to achieve. Just because…  Read more

Have you moved between the jobs? Chances are that you have several superannuation accounts and don’t know what you should do about it… or in fact, you haven’t given it a second thought…there is also a very good chance, you have lost super that you are no longer aware of… The thing is, the more superannuation accounts (funds) you have, the more sets of fees you pay. Paying these additional…  Read more