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November 2013 Newsletter

Welcome to the November edition of Furzer Crestani News.

This e-newsletter highlights activities from a tax, forensic and leadership/personal development perspective that we trust could be useful for you and your business associates.


ASIC Releases Report on the Cost of Running Self Managed Superannuation Funds ("SMSF")
           
ASIC commissioned Rice Warner Actuaries to prepare a report in relation to the "Costs of Operating SMSFs".

Some of the findings from the Rice Warner Report are that: 
• A person or couple with $200,000 or less in their SMSF would not be better off in an SMSF compared to an APRA fund unless they do the administration themselves.
• SMSFs with $200,000 or more are competitive with both industry and retail funds provided the trustees undertake some of the administration.
• For balances of $250,000 or more, SMSFs become the cheapest alternative provided the trustees undertake some of the administration.
• At sizes above $500,000, SMSFs can be the cheapest alternative.

Read more ...                       


Interaction of Staff and Customers

There is no doubt that many small businesses have been operating in difficult times. There are a number of factors that have influenced the economic conditions: 
• Recent Federal election uncertainty;
• Currency fluctuations, which in the main, are now benefiting exporters, but creating some difficulties for importers;
• Reduced interest rates. The lowering of interest rates underlines the tough economic environment in which businesses are operating; and
• Uncertainty in the USA and continued unrest in Europe.

Read more ... 


Recent Decision on Economic Loss 
                               
Benefit from our knowledge, skills, experience and extensive data base.

Judgement as to damages was recently handed down in a matter in which we were engaged to assess the plaintiff's economic loss. The plaintiff, Dr Nair Smith, a GP, suffered economic loss as a result of injuries sustained in an accident at the Perisher Ski fields in July 2003.

Read more ...


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If you have any comments or questions regarding information in this newsletter or how we could be of service to you, please do not hesitate to contact us.

Kind Regards                          

 

The Team
Furzer Crestani 
www.furzercrestani.com.au  

 

 
 

In this Issue:

ASIC Releases Report on the Cost of Running Self Managed Superannuation Funds ("SMSF")
              
Interaction of Staff and Customers

Recent Decision on Economic Loss
                                  
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