News

Division 296, SMSF, Superannuation, Tax

Div 296 cost base reset flawed

The government has adopted a blanket approach to resetting the cost base of assets that may be liable to Division 296 tax, highlighting a further flaw in its revised bill.

The government has adopted a blanket approach to resetting the cost base of assets that may be liable to Division 296 tax, highlighting a further flaw in its revised bill.

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ATO, Superannuation, Tax

Release authority compliance an issue

Compliance with release authorities is causing some worry for the ATO with the communiques being ignored or not properly followed.

Compliance with release authorities is causing some worry for the ATO with the communiques being ignored or not properly followed.

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Division 296, Investments, Superannuation, Tax

Franking credits a Div 296 worry

CPA Australia has raised its concerns over the treatment of franking credits in the calculation of revenue for the proposed Division 296 tax.

CPA Australia has raised its concerns over the treatment of franking credits in the calculation of revenue for the proposed Division 296 tax.

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Retirement, Superannuation

Retirees not underspending super savings

Most retirees draw down more than they are required to from their superannuation accounts, according to Super Members Council analysis.

Most retirees draw down more than they are required to from their superannuation accounts, according to Super Members Council analysis.

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Appointments

AMP names new chief executive

AMP will initiate a change in leadership at the highest level as Alexis George announces her retirement from executive roles.

AMP will initiate a change in leadership at the highest level as Alexis George announces her retirement from executive roles.

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Division 296, SMSFA, Superannuation, Tax

Div 296 bill needs more refinement

The revised Division 296 bill should be made less complex and avoid a new range of unintended consequences that have arisen in its second iteration.

The revised Division 296 bill should be made less complex and avoid a new range of unintended consequences that have arisen in its second iteration.

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Administration, Tax

SMSF admin firm expands into tax advice

Olivia Long has expanded the services offered to SMSFs, opening a new tax business alongside her administration firm.

Olivia Long has expanded the services offered to SMSFs, opening a new tax business alongside her administration firm.

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financial advice, Financial Planning

New JV launches succession planning aid

A newly formed joint venture has launched a platform to assist advisory practitioners with their business succession planning.

A newly formed joint venture has launched a platform to assist advisory practitioners with their business succession planning.

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Superannuation

SMC wants super for all younger workers

The SMC has argued for the current provision preventing some employees under 18 years old from receiving super contributions to be scrapped.

The SMC has argued for the current provision preventing some employees under 18 years old from receiving super contributions to be scrapped.

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ATO, Compliance, Regulation, SMSF

ATO issues education direction guidance

The ATO has stipulated the circumstances whereby issuing education directions is not appropriate for SMSF trustee duty breaches.

The ATO has stipulated the circumstances whereby issuing education directions is not appropriate for SMSF trustee duty breaches.

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