Wise Accounting Podcast (wap)

Welcome to Episode 38 of the Wise Accounting Podcast, where this week we guide you through the allowable deductions that can be incurred inside of a Self Managed Superannuation Fund (SMSF). These structures are not tax unicorns and are heavily monitored from a compliance point of view. It is imperative that you have a thorough understanding of that you can and cannot do incised of a SMSF as if you get it wrong, and the fund is deemed non-compliant it can be costly, with the fund being taxed on asset positions as opposed to income ones. With SMSF’s continuing their popularity it seemed an ideal time to share this podcast. So, just how popular are SMSF’s? Direct from the ATO. the number of SMSFs increased to 596,516 the number of SMSF members is 1,124,453 the estimated value of SMSF assets is $696.7 billion the top five asset types held by SMSFs by value are listed shares 30% cash and term deposits 23% non-residential real property 11% unlisted trusts 10% other managed investments 5%. To ensure you comply