A recent case decision highlights the penalties that may be imposed for incorrectly accessing your super early. The decision made by the judge in the case of Deputy Commissioner of Taxation V Lyons resulted in Mr Lyons having to pay a monetary penalty of $32,500 and the commissioner costs of $5,000. The Fund also lost
Have you ever considered a continuity plan for your business in case of disaster? There are many things that can disrupt a business these don’t just include the physical structure of the business but can include key personnel – what would happen if they were to get sick? Having a well-executed practical plan in place
Over the last couple of years there has been a huge increase in the number of Self-Managed Super Funds (SMSF) trustees and directors of SMSF trustee companies that are being declared disqualified persons by the Australian Tax Office (ATO). Many do not realise the substantial adverse implications that are associated with dishonest conduct as they
