Articles by Darin Tyson-Chan

Administration, Legislation, Tax

New TSB calculation telling

November 21, 2023

Darin Tyson-Chan

Calculation method $3 million soft cap tax Total super balance

The new method of calculating total super balances under the $3 million soft cap legislation will have greater-reaching consequences for SMSF members.

NALI/NALE

IFPA wants NALE law removed

Institute of Financial Professionals IFPA Senate Economics Legislation Committee NALE repeal

November 20, 2023

Darin Tyson-Chan

The government has been encouraged to remove the provisions pertaining to NALE in the relevant bill before parliament.

Accounting, Compliance, Legislation, Tax

Tax on unrealised gains not new

Treasury unrealised capital gains $3 million superannuation earnings tax

November 8, 2023

Darin Tyson-Chan

Treasury has stipulated the taxing of unrealised capital gains is not unique to the proposed earnings tax on individual superannuation balances over $3 million.

Compliance, Legislation, NALI/NALE, Tax

NALE bill doesn’t extend amnesty

NALE ATO Non-arm's length expenditure PCG 2020/5

November 7, 2023

Darin Tyson-Chan

SMSF trustees cannot rely on PCG 2020/5 from 1 July 2023 to avoid a severe tax penalty should they incur non-arm’s-length general expenses.

Death benefits, SMSF, Tax

$3m soft cap contains death glitch

$3 million soft cap tax Deceased member Death benefit

November 6, 2023

Darin Tyson-Chan

A distinct abnormality is contained within the draft legislation pertaining to the $3 million soft cap with regard to deceased super fund members.

Retirement, Superannuation

Competition to improve super

Stephen Jones superannuation sector competition

November 2, 2023

Darin Tyson-Chan

The government is looking to improve the outcomes for all superannuants by encouraging increased competition between all segments of the industry.

ATO

Valuations to get increased focus

ATO SMSF asset valuation

November 1, 2023

Darin Tyson-Chan

The valuation of assets is an area of compliance the ATO is looking to focus on with greater intensity as a result of recent data analysis.

Accounting, Administration, Auditing, SMSF

Better auditor contact beneficial

SMSF auditors Audit preparation Accurium Mark Ellem

October 31, 2023

Darin Tyson-Chan

Stronger and more frequent communication lines between accountants and advisers and their SMSF auditors will make fund audits more efficient.

Accounting

Reserves accounting needs review

SMSF reserves SMSF administration software Defined benefit scheme

October 30, 2023

Darin Tyson-Chan

Practitioners and trustees should ensure the SMSF administration software in use complies with the law with regard to the allocation of earnings.

«
1
…
17
18
19
20
21
22
23
24
25
26
27
…
263
»

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.