Author Archives: Connor Krohn

Melbourne Accountants

Are you looking for the tax return accountants in Melbourne? Then your search is over. Reliable Northcity Accountants have gained the tag of being trustworthy over many years in providing tax return services. Whether you need individual or company tax return, just leave this to our professionals in Income tax. Northcity Accountants give the tax […]

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Northcity Accountants

Great Value, Full Service, Acccountants We’re a full service firm of Accountants, based in Melbourne. We have 14 staff, so we’re large enough to have the resources you need – and small enough to care. We provide integrated advice across: finance, accounting, systems, payroll, tax and personal/Business finance. We’ll help you achieve your personal and business objectives and: Reduce your […]

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Mobile Accountants

We specialise in business that are looking to expand and need to plan. Bookkeeping is the process of reconciling transactions through accounting software. If you’re a business owner, then you’re probably dreading the amount of time being spent on bookkeeping and administration. Some common bookkeeping tasks include: Bank reconciliations Accounts payable Accounts recievable Inventory management […]

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Federal Budget 2020-2021 -Personal Income Tax

Federal Budget 20-21 Personal tax and incomes This Budget contains a number of measures impacting individuals, including substantial changes to the individual tax residency rules, the continuation of the Low and Middle Income Tax Offset, employee share scheme rule changes as well as increased access to child care subsidies. Individual tax residency rules The individual […]

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SMSF Auditor Independence

Auditor independence Approved self-managed super fund (SMSF) auditors must comply with independence requirements as part of their professional obligations under the: Superannuation Industry (Supervision) Act 1993 (SISA) Superannuation Industry (Supervision) Regulations 1994 (SISR). The independence requirements are set out in APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (2018) (the Code) produced by the Accounting Professional & […]

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Superfund -Auditor Checks

As an SMSF auditor, there are extra audit checks you need to consider when undertaking the final SMSF audit for an SMSF that is winding up. These include checking that: any wind-up requirements in the trust deed have been met all members agreed in writing to the wind up the financial statements correctly account for […]

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Auditing an SMSF The trustees must appoint their SMSF auditor

Auditing an SMSF The trustees must appoint you as their SMSF auditor no later than 45 days before the annual return is due to be lodged and provide you with all relevant documentation to conduct and finalise the audit. If you request more information from the trustees, they must provide it to you within 14 […]

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Super Laws & SMSF Auditors

As an SMSF trustee you may need to deal with two key government agencies. These are: Australian Taxation Office (ATO) – administering the relevant super laws for SMSFs. Australian Securities & Investments Commission (ASIC) – regulating financial services to protect consumers and manages SMSF auditor registrations. We SMSF Auditors can Help call 03 9404 2737

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SMSF & Commercial Property-SMSF Auditor

Investing in commercial property Generally speaking, investing in commercial premises through an SMSF has some advantages over residential properties. The rules relating to holding residential property in an SMSF very clearly stipulate that the property can’t be rented or occupied by you or any other trustee. It also can’t be rented or occupied by any […]

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Buying Property-SMSF and Auditor

A Guide To Buying Property Through An SMSF Investing in property through a self-managed super fund (SMSF) has grown in popularity in recent years, particularly since it became possible for SMSFs to borrow money to fund a direct property purchase. This is an area where you really do need to make sure you know what […]

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