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SMSF obligations when members are overseas

Posted by Team AVS on 21 Feb, 2020  0 Comments

To be a complying fund and receive the tax concessions we all associate with super, an SMSF – like all superannuation funds –must be classified as an Australian superannuation fund. Yet this definition becomes more complicated to meet when SMSF members move overseas. When this happens, trustees need to know what, if any, action they need to take to make sure their fund remains compliant.

Legislative Background

Section 42 of the Superann

What you need to know about the First Home Super Saver Scheme

Posted by Team AVS on 3 Feb, 2020  0 Comments

The First Home Super Saver (FHSS) scheme was introduced a couple of years ago with an aim to reduce pressure on housing affordability. The scheme allows eligible taxpayers to save money for their first home inside the superannuation system. The government says this concessionally taxed environment will help first home buyers save faster.

How it works
Under the scheme, a taxpayer can make voluntary concessional and non-concessional contributio

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