Professionals struggling to cope with SMSF changes

January 25, 2018

Last week the Australian Taxation Office (ATO) announced that it will extend the due date for the lodgement of self-managed superannuation fund (SMSF) annual returns for FY2017 to 30 June 2018.

The ATO has acknowledged that professionals may need more time to cope with the significant legislative and regulatory reforms that took effect on 1 July 2017. Many accountants, tax agents, and SMSF advisers are still trying to digest the effects of the recent super changes.

At Morgan Wealth, we have advised all clients on the recent changes to superannuation, and how the changes may affect them. We have reviewed our clients’ circumstances case by case to recognise the superannuation funds that will be affected by the superannuation reforms to ensure that their arrangements remain most tax-effective.

We keep our clients’ accounts updated daily to facilitate timely decisions. Typically clients’ Super and Regulatory returns are lodged with the ATO prior to December to ensure that all tax refunds are banked and reinvested prior to the Christmas/New Year break.

Our Top Recommendations
Total returns on capital growth and dividends for 12 months ended 31 July 2018
Afterpay Touch
357.42%
Lovisa Holdings
175.33%
Altium Limited
136.00%
Relance Worldwide
85.64%
Nextdc Limited
75.43%
Xero Ltd
72.09%
CSL Limited
57.56%
Macquarie Group
49.21%
Resmed Inc
47.17%
Orocobre Limited
44.97%
ASX200 Accum Index (comparison)
14.59%