The availability of information needed to comply with the ATO’s new real-time reporting requirements remains a concern for the sector, but the regulator’s attitude to the issue remains unchanged, a senior SMSF technical executive has said.

Capital gains tax (CGT) relief available to SMSFs looking to comply with the newly imposed transfer balance cap will have to be applied on a case-by-case basis, creating further complexity for advisers and trustees in the preparation of fund accounts, a technical services manager has said.

Revenue and Financial Services Minster Kelly O’Dwyer has announced the federal government’s intention to introduce a bill into Parliament this year to shut down a loophole allowing employers to reduce their obligations under the superannuation guarantee (SG) levy if an employee enters into a salary sacrifice arrangement.