Castletons

SMSF changes and reminders for 2023

After a tumultuous 2022 year, 2023 is finally here, a new year means changes and the SMSF space is no different If you’re thinking of starting a new SMSF, the ATO has now changed the registration process which removes the ability to add the SMSF bank account details to the online and paper application for an ABN registration of an SMSF

In a recent address, the Assistant Treasurer and Minister for Financial Services, Stephen Jones, outlined the changes the government will be pursuing in terms of superannuation From its beginnings in 1992, superannuation collectively has become a juggernaut and has grown to encompass over $3 3 trillion in assets held by an estimated 16m Australians That figure makes Australian superannuation the world’s third largest pension pool

NSW first home buyers: choice of tax

First home buyers in NSW could soon have the choice between paying an annual property tax instead of stamp duty if a Bill currently before NSW Parliament passes As the name suggests, the First Home Buyer Choice scheme is only available to individual first home buyers over 18 years of age who have not previously owned residential land in Australia For individuals with a spouse, it is also a requirement that the spouse has not at any time owned residential land in Australia either solely or with another person

Download the MyAccountants

App today! Castletons is one of the very first accountancy firms in Australia to launch a free mobile Tax App The great news is that the APP can be downloaded free onto your iPhone,iPad or Android devices It's packed full of some really useful Tax Tables, Calculators and important financial dates, all of which you will be able to access for free, anywhere you have an internet connection on your device Get your free APP from Castletons here: