Welcome to the Bentleys MRI BulletinWe are pleased to provide you with the latest edition of the Bentleys MRI Bulletin. |
Simpler SuperUsually when the Federal Government introduces legislation using the description “Simpler”, alarm bells ring as these changes far from simplify the process. In this instance, however, the changes to the superannuation system do offer real benefits and opportunities to working Australians. SuperSeek and you may find some of the lost $billions is yoursWith $9.7 billion of lost superannuation lying in Australian funds, you’d think people would be lining up to claim their share but, despite easy ways to track it down, the amount of money in lost super accounts is steadily growing. SMSF Compliance Program – audits to double in 2007In 2005/06, the ATO completed 4,530 audits of SMSFs and is planning to double their compliance coverage in 2006/07. Maintaining the Value of your BusinessThe majority of business owners want to realise their investment in the business at some point, but how many work at keeping their business at its optimal value and attractive to buyers ? Its Fringe Benefit Tax (FBT) Time AgainThe deadline for Fringe Benefits Tax is 31 March 2007. We are pleased to provide you with a recap on FBT. Franking Credits Available To Life TenantsThe Government will amend the income tax law to allow income beneficiaries of testamentary trusts (such as life tenants) greater access to franking credits on dividends received by the trust. Amendments To The Tax Law To Reduce Compliance Costs For Small BusinessThe Minister for Revenue and Assistant Treasurer, Peter Dutton MP, has announced amendments to the integrity rules concerning distributions by private companies (Division 7A of the Income Tax Assessment Act 1936). |