Category Archive for : ‘insurance’

Having the right insurance cover such as illness and accident cover within your super fund is very important as it provides a level of security for members of the fund along with their families. Choosing the right insurance cover can be arranged by the SMSF trustee/s.
Generally, there are three types of insurance that are available through super, with these being:

Income Protection Cover (IP) – this type of cover is relevant when you cannot work due to a temporary illness or disability. It provides an income stream whilst you are off

Is Audit Insurance right for your business?  The ATO has received additional funding (several hundred million dollars) to undertake more audits this year. Each year, the ATO identifies specific occupations where it pays particular attention to claims for deductions and seeks to ensure that those people don’t try and claim deductions which they aren’t entitled to. This year, the careers which are getting specific attention are real estate workers, flight attendants, carpenters and joiners and earthmovers. Another area of focus will be people who make a living from eBay. Anyone

Audits coming your way?

The Federal Government has proposed a 55% increase in audit funding over the next four years with an anticipated target of $3.7 billion in revenue raising as a result. So what does this mean for you? With the ATO not discriminating and targeting individual, businesses and SMSF lodged returns, everyone’s now on the hit list.

What can you do to combat an Audit?

Be in the know
Gain a better understanding of your financial position and tax situation by reviewing and talking with your PJT accountant. We can conduct a risk assessment,