Only SMSF who have a member with a balance in excess of $1m at the time the first pension (RPIS) is commenced from the SMSF have quarterly reporting. All other SMSF with a pension (RPIS) are annual reporters. Bizarrely those with balances over $1.6m are likely to have to least reporting even though the taxation of these members is what brought this rubbish about.
It is definately another reason to change for sure. That said anyone who isn’t on Cloud already is most likely a numpty so who knows what decisions they will make moving forward.
CL1 Price at posting:
$2.09 Sentiment: Hold Disclosure: Not Held
