MBS Auditors - SMSF Audits Specialist
RSS Follow Become a Fan

Recent Posts

Thinking about self-managed super
Self-managed super funds 20th anniversary
Wall St advances on temp shutdown deal
Australia's ANZ bank closes Singapore gold vault
Huge oil shortage is coming

Categories

Employment
Finance & Taxation in Australia
Finance sector in Australia
Forensic Accounting
International Finance
International Tax
International Trade
Property Market
SMSF Australia
powered by

My Blog

Thinking about self-managed super

If you set up a self-managed super fund (SMSF), you're in charge,  you make the investment decisions for the fund and you're held responsible for complying with the super and tax laws. It's a major financial decision and you need to have the time and skills to do it.

An SMSF must be run for the sole purpose of providing retirement benefits for the members or their dependants. Don't set up an SMSF to try to get early access to your super, or to buy a holiday home or artworks to decorate your house.

Self-managed super funds 20th anniversary

Since 1999, the sector has grown from around 200,000 SMSFs with $55 billion in assets to 600,000 SMSFs totalling $750 billion in assets. Today, SMSFs comprise nearly one third of Australia’s total $2.76 trillion retirement system.

Wall St advances on temp shutdown deal

Write your poWall Street gained ground on Friday in a broad-based rally as investors were heartened by news that Washington would move to temporarily end the longest US government shutdown in history.
All three major US stock indexes advanced, with the Dow and the Nasdaq eking out their fifth straight weekly gains. But the S&P 500 posted its first weekly loss of the year, snapping a four-week run.st here.

Australia's ANZ bank closes Singapore gold vault

Australia and New Zealand Banking Group Ltd (ANZ), whose gold bullion business is one of Asia's largest, said on Thursday it was closing its precious metals vault in Singapore.
The move follows the bank's sale last year of its stake in an exchange-traded fund backed by physical gold and sources say it is part of a scaling back of ANZ's precious metals business.
The bank opened the vault -- which could hold 50 tonnes of gold worth around $2 billion at current prices -- in 2013. That year, ANZ said it distributed close to 15 percent of the world's primary gold production.

Huge oil shortage is coming

Global oil majors are increasingly looking to invest in lower-carbon areas of the energy sector, as they react to pressure for cleaner energy, both from government policy and investors.

Forensic accounting

Forensic accounting, forensic accountancy or financial forensics is the specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation. Forensic accountants, also referred to as forensic auditors or investigative auditors, often have to give expert evidence at the eventual trial.

Real Estate Agents Trust Accounts Auditing

Estate agents must lodge a copy of the audit report with Consumer Affairs Victoria within 10 business days of receiving it from the auditor. If you don't, you are committing an offence, which may result in a penalty of up to 120 penalty units. 

Appoint an SMSF auditor

SMSF Trustess must appoint an approved SMSF auditor to audit your fund each year, not later than 45 days before you need to lodge your SMSF annual return. The auditor examines your fund's financial statements and assesses your fund's compliance with super law.

Sydney home prices just fell

Australian home prices fell for a 13th consecutive month in October, driven by continued falls in Sydney and Melbourne, the largest and most expensive capital city markets.

The yen’s rise

The yen’s rise in recent months could undermine the Bank of Japan’s efforts to raise the inflation rate to 2 per cent.