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Accountants Red Hill

Salomone Accountants is a specialist accounting firm situated in Milton, providing accounting, taxation and compliance services to small and large businesses, professional individuals, property investors and share investors primarily in the suburbs Red Hill, Milton, Spring Hill and Rosalie of Brisbane.

Salomone accountants

The Milton team delivers services including preparing financial statements, tax returns and cash flow budgets that go beyond compliance to meet the tailored needs of our clients. Our services are designed to offer you strategies to build your revenue, maximise your profits and grow your personal wealth.

We provide professional accounting and tax services to individuals, businesses, retirees and self-managed super fund trustees. Most of our clients are locals from the Brisbane suburbs of Red Hill, Spring Hill, Milton and Rosalie.

Services

Our Milton office provides specialised advice in the establishment and administration of a self-managed super fund (SMSF). We are experienced in mentoring business start-ups to help fast track your business to success. Our expertise covers a range of industries, in particular, property investors, small and large businesses, professional individuals and share investors.

Our professional team of Milton based accountants are dedicated to extensive professional development to ensure you receive timely and accurate accounting and tax advice. Our services extend to business planning strategies to best meet the strategic needs for small to large sized businesses. We pride ourselves on our hands on practical approach to business, tax and financial services. As we work with you to use the right accounting software, you will find fast turnarounds on compliance based work and tax returns.

At Salomone Accountants, we aim to deliver personal service every time with our accessible Milton location, after hour appointments and ongoing communication. If you are interested in taking a more innovative approach to your accounting, tax, business and financial needs call us today on 07 3367 0999.

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News

How to catch out an illegal super scheme

April 18, 2018

When a super scheme seems too good to be true, it often is. Many illegal super schemes are operating in Australia, so it is crucial to understand the characteristics of such schemes.

A popular illegal scheme is one whereby an individual is enticed by being told they can access their super early to pay off a credit card debt, go on a holiday, buy a car and so on. Generally, such schemes are illegal as superannuation can only be accessed early by meeting a condition of release.

Those promoting such schemes usually:
– Encourage individuals to transfer super from an existing super fund to an SMSF to access super before they are legally entitled to;
– Target those under financial pressure or who do not understand the super laws;
– Claim you can use your super for anything you want;
– Charge high fees and commissions, and risk losing some or all of the individuals super to them.

Unfortunately, participating in these schemes subject the affected individual to identity theft from the promoter of the scheme. Identity theft is when someone uses another person’s details to commit fraud or other crimes.

Individuals need to be aware that super is usually only accessible once the preservation age is reached and they stop working. The preservation age is currently 55 years old for those born before 1 July 1960 and 60 years old for those born after 30 June 1964.

Superannuation can only be accessed early in special circumstances such as severe financial hardship and for specific medical conditions. There are severe penalties for illegally accessing your super early.