There are two types of taxable income – income of a revenue nature and income of a capital nature. Note that capital losses can’t be offset against revenue gains for the calculation of taxable income. Capital losses are quarantined and can only be utilised against capital gains. When an SMSF goes into pension mode, all gains become tax free, so […]

Transferring Funds into your SMSF When your SMSF is set up, you can request your retail Super Fund to roll over your Superannuation balance to the SMSF. The retail fund will have a “Benefit Rollover Request” form that should be completed. You can phone your retail superannuation fund to request the form, or it might be available […]

Super Stream SuperStream was implemented in 2014 and is designed to report and pay superannuation contribution electronically. It helps to improve the superannuation system by making transaction processing more efficient. With SuperStream, employers pay super contributions electronically and report contribution electronically. The reporting mechanism is generally referred to as an Electronic Service Address or ESA code. Benefits There […]