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Property investment advice Melbourne

Budget 2017 changes for SMSF and property investors

There were no major superannuation measures in the May 2017 Budget, with slated super reforms commencing 1 July 2017. However, there are now changes to depreciation and deductibility which many residential property investors, including SMSFs with residential property investment portfolios, will need to take into account. There is also encouragement for people over 65 to downsize their own homes to make a non-concessional super contribution from proceeds, the general idea being to help free up the stock of larger homes held by empty-nesters for more effective usage.

If you’re involved in property investment and superannuation decision-making and administration, here are the key points to consider:

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Repairs to SMSF rental property

Repairs and improvements on properties held by SMSFs

What happens when a property held by an SMSF needs repairs? Is it possible to use borrowed funds for renovations? Geoff Morris explains the rules…

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Class software infographic

Cloud SMSF software that’s all Class

Billings+Ellis is using Class software exclusively for handling the superannuation and self-managed superannuation funds of the firm’s clients.

What do we like about Class for SMSFs?

Class allows us to administer and audit SMSFs with greater efficiency, which in turn helps us to keep costs down and our services and fees more competitive.
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5 things for business owners to review before 2015

Now the end of the calendar year is fast approaching, and many businesses shut down or partially close over the Christmas and New Year period, it is a good time for business owners to focus on areas they would normally put to the bottom of the pile. These may include:

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Financial System Inquiry – what it means for SMSF property investment

The Financial System Inquiry recently released its recommendations. Headed by Mr David Murray, the panel aims to lay out a blueprint for the financial system over the next decade. Previous inquiries (Campbell report in 1981, and Wallis report in 1997) were the catalysts for major reform in the Australian financial sector, including floating of the Australia dollar and deregulation of the financial sector, changes to financial services regulations, the creation of Australian Prudential Regulation Authority (APRA), and changes to ASIC.

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Cloud-based accounting takes off – are you on board?

A recent study by Xero, a cloud based accounting software provider, showed 14 percent of small businesses in Australia are already using a cloud-based accounting package. Also, the study showed almost half of small businesses who do not currently used cloud-based accounting packages are considering doing so.

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Superstream update – is your business prepared?

superstream

The superstream changes start from 1 July 2014 for employers with 20 or more employees, and from 1 July 2015 for employers with fewer than 20 employees. Large employers have until 30 June 2015 to start using the new measures. Failure to do so will not incur penalties before 30 June 2015.

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