Self Managed Superannuation Funds continue to be a focus for the Government and the regulators, and a number of changes are being enforced to tighten control over how SMSFs operate. Coming into 2025-26, there are opportunities but also risks. We explore these in this update: ● In brief - A summary of key changes and actions. ● What’s new - An explanation of key changes that may affect your SMSF. ● Fund housekeeping - Essential pre 30 June actions. ● What we need from you - an outline of what we need to manage your 2024-25 fund compliance. We want to help you achieve the best result for you and your SMSF. If there is any additional assistance we can provide, or if you would like us to review your personal situation, please contact us. Kind regards, Ambrosiussen The Business Accountants 

The title carries a certain weight, doesn't it? It evokes images of importance, of having "made it", of being in control and steering your own ship.

Listening to the treasurer delivering this year’s budget, you would think our economy is doing wonderfully and there is nothing to be concerned about. However, when you look behind the gloss to the real numbers, the story is very different.

None of us like paying more tax than we have to. The best way to keep the tax down is not by leaving it to the last minute, but by having a year-round process.

Generational succession - handing your business across to your kids or family - sounds simple enough but, many families end up in a dispute right at the point when the parents, business, and children are most vulnerable. It’s important that generational succession is managed as closely and diligently as if you were selling your business to a stranger to avoid misunderstandings and disputes.

The three main owners of Chemist Warehouse became multi billionaires this week when they sold to competitor Sigma Healthcare.

Keeping your accounts up-to-date is essential for the smooth and successful operation of any business.

Big changes are planned by the Federal Government to the way employers handle superannuation payments, and if you’re a small business owner, it’s time to get prepared.

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