Articles by Darin Tyson-Chan

ATO, Compliance, SMSF

Early access treatment key to ATO actions

ATO Illegal early access Peter Bobbin SMSF Association Technical Summit Loans SMSF Self-managed superannuation

The illegal early access of benefits can be treated in a different factual manner to produce a better compliance outcome for the trustees involved.

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Legislation, SMSF, Superannuation, Tax

Withdrawals can eliminate $3m cap liability

SMSF Self-managed superannuation SMSF Association Technical Summit Division 296 tax Liability Withdrawals Total superannuation balance

SMSF drawdowns can allow members to maintain a total super balance of $3 million or less and escape a Division 296 tax liability.

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ASIC, Regulation, SMSF

INFO 274 change having no impact

INFO 274 SMSF ASIC Self-managed superannuation Establishment Investment Trends

The significant amendment ASIC made to Information Sheet 274 has had almost no impact on SMSF establishments.

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Compliance, Regulation, SMSF, Tax

TPB disciplines SuperGuardian

Tax Practitioners Board Tax Agent Services Act 2009 Code of Professional Conduct SuperGuardian SMSF Self-managed superannuation Jason Poser SMSF Association

Specialist SMSF accounting firm SuperGuardian has had disciplinary action taken against it by the TPB for a code of conduct breach.

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Contributions, Regulation, Superannuation

General TBC likely to rise again

CPI Consumer price index AWOTE General transfer balance cap Concessional contribution cap Non-concessional contribution cap

Superannuants are likely to experience further increases in the general transfer balance cap in the coming years due to indexation.

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Compliance, Contributions, Regulation

Self-assess carry-forward rule use

Concessional contributions Carry-forward provisions SMSF Self-managed superannuation MyGov Self-assessment

Self-assessment is to be used originally to determine if a super fund member is able to use the carry-forward concessional contributions cap rules.

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Education, Regulation, SMSF

Client aids for regulations wanted

Investment Trends SMSF Self-managed superannuation Regulatory changes Educational content

Practitioners would like more educational material on regulatory changes and industry developments to allow them to service SMSF clients better.

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Legislation, Regulation, SMSF

Residency rule change may be closer

Residency SMSF Self-managed superannuation Active member test Safe harbour

The proposed changes to the superannuation residency rules first put forward in 2021 may be closer to coming to fruition.

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Legislation, SMSF, Tax

Div 296 tax most impactful change

Super balances Division 296 tax SMSF Self-managed superannuation Super balances Yigit Gunhan Investment trends

Practitioners have nominated the proposed Division 296 tax as the legislative change that will have the greatest impact on clients in the immediate term.

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