Blog

With the end of the 2023-24 financial year in sight, the time has come again to assess your business affairs and plan for tax season. Optima Partners has broken down the essentials of what you need to know before July 1.   Business reporting obligations Below are a few business reporting obligations to be mindfulRead more

As you may or may not be aware superannuation concessional contribution caps are changing from 1 July 2017, it is necessary to know what the changes are. Just in case you want to get in before the changes eventuate – it will be necessary to know what you can do now (before 30 June 2017),Read more

  WHATS NEW? The new Limited Recourse Borrowing Arrangement rules should now be well and truly bedded down and we now head steadily toward the next raft of changes. The most pressing for our SMSF clients is the $1.6million transfer balance cap for retirement pensions.  There are a number of strategies around this change.  However,Read more

  How will I EVER afford to retire ? Don’t worry, we all think it. I’m in the financial planning industry, assisting people every day with superannuation and insurance, yet I still look at my own super balance and think “that will never be enough. I’ll be working until I’m 90 years old”. For theRead more

Super Transfers to New Zealand If you’re planning to move permanently or indefinitely to New Zealand, you may transfer your retirement savings from a participating Australian super fund to a New Zealand KiwiSaver scheme. You may only transfer retirement savings between a complying APRA-regulated superannuation fund and a KiwiSaver scheme. Check with your fund andRead more

Superannuation NON CONCESSIONAL BRING-FORWARD RULE How does the non concessional bring forward rule work? The bring forward rule works over a 3 year period so it is very important that you keep track of the size and timing of any non concessional contributions.   What is the bring-forward rule? The annual non-concessional (after-tax) contributions capRead more

ARE YOU READY FOR SUPERSTREAM? Every time the ATO brings in a new measure of compliance I can’t help but get frustrated. It means that there is one more piece of red tape that must be hacked away, one more thing that small business owners and managers must learn to do and be kept awayRead more

SUPERANNUATION TIPS It seems like it was just yesterday when we where wishing everyone a Merry Christmas, Happy New Year and making our New Year’s resolutions. Now reality sets in, as we are now already in April 2016, there is just over 2 months until the end of the financial year! Like everything you needRead more

Are you an employer with less than 20 employees? Have you registered for SuperStream? As at 30 June 2016 it will be compulsory for you to comply with the ATO’s new SuperStream standard for superannuation payments. What is SuperStream? SuperStream will require employers to lodge and pay superannuation electronically. The ATO advises this system, throughRead more