Unemployment hits record low, but less people looking for work
While the unemployment figure dropped to 3.9 per cent, only 4,000 new jobs were created and 7,000 people gave up...
READ MOREPractitioners cautioned on liabilities with catch-up contributions
A major SMSF administrator has warned accountants on some of the liability traps associated with the $500,000 balance restriction for catch-up contributions, and is urging the government to align the threshold with the proposed $1.6 million cap.
SuperConcepts general manager of technical services and education Peter Burgess says SMSF practitioners will need to exercise caution with any clients planning to hold off on contributions and make catch-up contributions in future years.
Read the full story at SMSF Adviser.
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