a PAYG Payment

If your Fund is required to pay Pay As You Go taxes, the payments can be: . . entered as an expense to account 2-1101 Income Tax PAYG Instalments Paid

IAG Share Consolidation

On 15 August 2018, IAG (Insurance Australia Group) announced a capital management initiative that was settled on 26 November 2018. .

a life insurance premium payment

Your Fund may pay life insurance premiums on member policies. . You can post these payments through either Bank Data Feed, by selecting All Other Expenses in the Expenses Category, which will display the ADD EXPENSE screen shown below, or you can post directly through the EXPENSES tab

GST on expenses

Special rules apply to superannuation funds claiming GST on expenses. These can be complex. Trustees should seek expert advice, noting that, generally speaking, GST charges on fees for Accountancy, Taxation and Audit is not claimable

Property expenses

If your SMSF assets include direct property, you will incur two kinds of expenses:. . Operating costs, such as agents commissions, advertising fees, repairs and maintenance, cleaning, body corporate costs, utilities costs, travel, insurance, etc

Property Rental Income with GST

If you are receiving rental income on which GST is charged, you should have selected YES in the Enable GST field in the Fund Details. (Refer to Automated GST Management).

Property capital/improvement costs

If your SMSF assets include direct property, you will incur two kinds of expenses:. . Operating costs, such as agents commissions, advertising fees, repairs and maintenance, cleaning, body corporate costs, utilities costs, travel, insurance, etc

Westfield/OMN/URW Demerger

On June 7, 2018, Westfield transferred all its shares in One Market to its to holders of stapled securities in the Westfield Group. . Also on that date, the Westfield Group exchanged all stapled ecurities for stapled securities (CDIs in Unibail-Rodamco, in addition to making a cash settlement to shareholders based on their shareholding