Beacon Business Accountants are Business and Property Tax Specialists, and Accounting Advisors.

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Relevant Accounting News

We’re here to help with a collection of accounting news sites, associations, and organizations that can help you keep up in the ever-changing world of accounting.

Category: Superannuation | SMSF

Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund.

What Happens To Your Superannuation When You Die?

Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund. When you die, it does not automatically form part of your estate but instead, is paid to your eligible beneficiaries by the fund trustee according to the rules of fund, superannuation

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Unwinding Covid 19 Relief and what happens to your Superannuation when you die by Beacon Business Accountants in Brisbane.

Unwinding Covid Relief

Covid-19 support will roll back as states and territories reach vaccination targets.  The National Plan, the road map out of COVID-19, does more than provide greater freedoms at 70% and 80% full vaccination rates, it withdraws the steady stream of Commonwealth financial support to individuals and business impacted by COVID-19

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Passenger movement data-matching program. The ATO will access data from the Department of Home Affairs on passenger movements during the 2016/17 to 2022/23 financial years

Passenger movement data-matching program

The ATO will access data from the Department of Home Affairs on passenger movements during the 2016/17 to 2022/23 financial years, and match it with certain sections of ATO data holdings to identify taxpayers that can be provided with tailored information to help them meet their tax and superannuation obligations,

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New ATO data-matching programs involving property. The ATO has advised that it will engage in two new data matching programs dealing with property transactions, as outlined below:

New ATO data matching programs involving property

The ATO has advised that it will engage in two new data matching programs dealing with property transactions, as outlined below: The ATO will acquire property management data from property management software providers for the 2018/19 through to 2022/23 financial years (relating to approximately 1.6 million individuals); andThe ATO will

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New Succession Planning guide for family businesses. The Australian Small Business and Family Enterprise Ombudsman, in conjunction with Family Business Australia, has released a new online guide to succession planning.

New Succession planning guide for family businesses

The Australian Small Business and Family Enterprise Ombudsman, in conjunction with Family Business Australia, has released a new online guide to succession planning — the “Introductory Guide to Family Business Succession Planning” — which provides a step-by-step guide to passing the family business on to the next generation. A recent

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Super Contributions will increase from 1 July 2021. The superannuation concessional and non-concessional contribution caps will be indexed.

Super Contributions will increase from 1 July 2021

The ATO has confirmed that, from 1 July 2021, the superannuation concessional and non-concessional contribution caps will be indexed. The new caps for the 2021/22 year will be: Concessional Cap: $27,500Non-Concessional cap: $110,000 (or $330,000 over 3 years) The total superannuation balance limit that determines if an individual has a

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The superannuation guarantee rate will rise from 9.5% to 10% on 1 July 2021, so businesses with employees will need to ensure their payroll and accounting systems are updated to incorporate the increase to the super rate.

Super Guarantee rising from July 1 2021

The super guarantee rate will rise from 9.5% to 10% on 1 July 2021. Businesses with employees will need to ensure their payroll and accounting systems are updated, to incorporate the increase to their super rate.

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