SMSFs must now report event that affect their members’ transfer balance accounts. Events such as receiving a pension from the fund are included. The timing of such reporting depends upon the total superannuation balance of all members of the SMSF. SMSFs with a total member superannuation balance of less the $1 million may report at the same time as lodging … Read More
Small Business News
Superannuation Guarantee Amnesty Although this Amnesty has not yet been passed into law it is wise to look into it. If and when it passes, this Amnesty will apply to employers who have either missed a SG payment or have not paid employees’ superannuation on time. What the Amnesty will do is provide employers with a one-off opportunity to correct … Read More