The ATO has issued a statement expressing its concern over recent misrepresentations of transition to retirement income streams (TRIS) and how they are meant to operate. In its statement, the ATO said that under special circumstances a member can select under regulation 995-1.03 of the Income Tax Assessment Regulations (ITAR) 1997 to treat a TRIS…
Businesses that choose only to hire experienced staff are missing out on the energy, drive and creativity of youth. Many employers are reluctant to hire young people because they doubt their readiness to work, abilities and skill level. However, business owners need to realise that younger people do have plenty to offer, and in the…
Most self-managed super fund trustees don’t give much thought as to how much professional indemnity (PI) insurance their advisor has. But since PI insurance is the only course of action to recover lost funds for trustees who become victims of fraud or negligence, it is an essential prerequisite trustees should be aware of. PI insurance…
