Cryptocurrency and SMSFs
As the rise of cryptocurrency continues, many trustees are wondering if their SMSF can invest in this popular asset class. Yes is the answer, however attention to detail is required. This asset class can be volatile, so the trustee should consider the sole purpose test and whether this investment meets their retirement needs. The sole […]
New Director Identification Requirement
In 2020 the Federal Government announced the introduction of a Director Identification Number (Director ID) to try and prevent the use of false or fraudulent director identities. The new Australian Business Registry Service (ABRS) is responsible for administrating the Director ID initiative. Visit their website https://www.abrs.gov.au/ for further information. This program takes affect from November 2021 […]
