DIY Superannuation Funds Are Also Called Self- Managed Superannuation Funds

question 33

True/False

DIY superannuation funds are also called self- managed superannuation funds (SMSFs).

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Definitions:

FUTA

The Federal Unemployment Tax Act, a United States federal law that imposes a payroll tax on any business with employees for the purpose of funding state workforce agencies.

SUTA

State Unemployment Tax Act, which mandates employers to pay state unemployment taxes.

Temporary

Pertaining to an employee, position, or status that is intended for a limited time period, often with an end date in mind.

Permanent

Describes assets or records that are intended to be held or used on a long-term basis and not expected to be sold or otherwise converted into cash within a year.