DFKBKM

Open letter to all our clients and colleagues, We are writing to inform you that effective 1 September 2023, DFK Benjamin King Money, Benjamin King Money Wealth and DFKBKM Audit Services will temporarily relocate our office from Level 3 to Level 4, 689 Burke Road, Camberwell. From July 2024, we will move into a brand new state-of-the-art office building, Yarraberg Workspaces, in Richmond which is currently under construction. Construction is progressing well and is set to be completed around March/April 2024, and we…

By Daniel Shaw As often is the case, members of self-managed superannuation funds (SMSFs) will have assets held outside of their SMSFs, either personally or in entities they control i.e., related parties. We often get asked whether the member’s SMSF can acquire these assets. This article will provide some further information on whether this is allowable. We first need to consider, is the SMSF acquiring an asset from a related party. A related party is defined as: A relative of…

By Daniel Shaw From 1 July 2023, the thresholds in which a superannuation member can make non-concessional (after tax) contributions have been increased due to indexation. Members who are under 75 with a total superannuation balance (TSB) below $1.9m, can make a non-concessional contribution into their superannuation fund up to the annual cap of $110,000, provided they are not currently in a bring forward arrangement which may change this cap. A bring forward arrangement allows a member to bring forward…