March 2018 Newsletter

Please click on the following link to view our monthly accounting/tax newsletter for March 2018:

March Newsletter 2018

We would like to highlight the following article in this month’s newsletter:-

$1.6mil Super Transfer Cap – the March 2018 newsletter highlights that the ATO are reviewing information they have received to date regarding super fund member balances and how they are being reported in relation to the $1.6mil super/pension transfer cap. We would like to highlight the following:-

  1. SMSF Reporting – each SMSF is required to report certain events to the ATO in a new form called the Transfer Balance Account Report (TBAR). Please contact us to discuss as it is important for both the 2017 year and future years; and
  2. Defined Benefit Plans – if you have a defined benefit plan (for example, certain government related super funds), it is important that we know the details of these funds as they are also reported to the ATO against a member’s $1.6mil super/pension transfer cap.