Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd from Boyd Office Management Services
Date: 29 January 2018
What is a Self Managed Super Fund and how do you go about setting one up? The general consensus is that there are less fees and you have greater control on how your money is invested and so by taking control of your Superannuation YOU can make more money and retire on a larger amount. It’s also a tempting prospect for small business owners who are keen to utilise their own bookkeeping skills and save on those dreaded admin fees.
However what a lot of small business owners don’t realise is that the compliance side is very different to running a business. There is a different set of fees and regulations involved which are very different to running a business. And as with everything which is regulated for the benefit of society as a whole, you need to make sure you’ve got your ducks all lined up in a row and do your homework BEFORE you dive down that rabbit hole.
Here to help us this week on Small Biz Matters is Dana Fleming, the ATO’s Assistant Commissioner SMSF Segment to teach Small Business owners what’s involved with setting up and running a Self Managed Super Fund.
Welcome to the show Dana.
Topics we’ll be covering:
Dana Fleming’s Bio
Dana Fleming has recently joined the ATO as their new Assistant Commissioner looking after the self-managed superannuation fund (SMSF) portfolio. For the past four years she led KPMG’s Asset and Wealth Management tax practice in Australia.
With over 25 years’ tax experience, both in Australia and overseas, specialising in superannuation and managed funds, Dana is well equipped to take the reins of the SMSF portfolio as it reaches its next stage of maturity and progress.
She joins the ATO at an exciting time for SMSFs as they reach some key milestones in the cycle of super policy reform that began in 2010. Advances in technology, coupled with the enhanced use of data for SMSF administration, investment decisions and regulation will enable the sector to become more streamlined and efficient, further cementing its position as a key component of Australia’s super system.
Dana is looking forward to making a positive contribution to the super sector and the broader community it serves.
To find out more go to their website:
General ATO SMSF website - https://www.ato.gov.au/Super/Self-managed-super-funds/
Subscribe to their SMSF newsletter with loads of webinars, info and new details - https://www.ato.gov.au/Super/Self-managed-super-funds/In-detail/News-and-alerts/
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EP#228 ~ Environmental, Social, Governance. How can policy makers reduce the burden of ESG reporting on small businesses?
EP#227 ~ Sandy Chong One of the most influential industry leaders. What drive these advocates?
EP#226 ~ Why should Regional, Rural and Remote communities be front and centre of small business policy planning? We ask a passionate thought leader.
EP#225 ~ Big Tech sometimes plays the smallbiz advocate but do they really represent the small business voice?
EP#224 ~ How do economists influence policy inside and outside of government?
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EP#222 ~ Translating policy into practice: What do the new Industrial Relations laws mean for your business?
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EP220 ~ What is the role of .au Domain Administration in the digital space and how does this affect small business?
EP219 ~ Digital Identity is coming. So what does this mean for you and your small business?
EP#218 ~ What is the future of small business advocacy in 2024 and beyond?
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EP#215 ~ ACCAN, who is the organisation fighting for small business people’s rights in the telecommunications industry?
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EP#213 ~ How bookkeepers advise their small business clients and how ICB advises Government
EP#212 ~ Highlights from Xerocon 2023 ~ What will be the impact of AI on the Fintech industry and small business?
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