Are you a resident or non-resident for tax purposes? It may seem like a simple conclusion to draw, but for the taxman the answer may not always be so clear-cut. We look at the differences, and the advantages and disadvantages of each tax status.
SMSF trustees will be aware that the fund’s tax return deadline is on the horizon, and therefore the need to have a fund audit completed also looms large – an essential requisite to stay compliant, to which the Tax Office is maintaining vigilant attention. And did you know that under dire emergency, it is possible to access some of your superannuation savings; but strict rules apply.