From 1 July 2023, self-managed super funds (SMSFs) must report transfer balance account events by lodging a quarterly transfer balance account report (TBAR) – which is more frequent than what currently applies. The first quarterly TBAR report obligation will be due by 28 October 2023, to report all unreported events that occurred from 1 July […]

If you’re thinking of starting a self managed superannuation fund (an SMSF) in 2023, you need to be aware of the recent changes made by the ATO on fund registration, and the application of the Director ID regime to funds with corporate trustees. Previously, after an SMSF was established and trustees were appointed, the trustees […]

Like many of you, we are in disbelief that another year is almost gone. It has been fantastic to have so many face to face appointments again and to help so many clients. This year Venture launched a Centrelink Only service which assists with ongoing maintenance as well as new applications for Age Pension, Commonwealth […]

From 4 November 2022 the income thresholds for the Commonwealth Seniors Health Care Card (CSHC) have been increased, allowing more Australians access to medical and pharmaceutical discounts and concessions. These changes will greatly benefit self-funded retirees who were previously unable to access the benefits of the CSHC. Current CSHC holders will not be affected by […]

When self-managed superannuation fund (SMSF) trustees have not complied with super laws, the ATO has several courses of action in order to deal with the trustees. Education direction When a SMSF trustee has been found to have contravened super laws, the ATO may provide written direction where the trustee must undertake education. The trustee must […]