Articles by Darin Tyson-Chan

Property

FHSSS slightly more attractive

super saver scheme

The First Home Super Saver Scheme may have more appeal for some given the reduction in minimum deposits on home purchases included in the budget.

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Documentation

Digital protocols a step closer

SMSF digital documents

A bill recently tabled in parliament has brought trustees closer to the ability to approve SMSF documents without a physical signature.

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Pensions

Reversionary pension change hazy

reversionary pension SMSF

The ability for an SMSF to legitimately change the nominated reversionary beneficiary of an existing income stream remains unclear.

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Financial Planning

Scalable advice solution introduced

digital financial advice

Practitioners have been provided with a new digital advice solution aimed at helping them retain and service clients who do not require comprehensive financial advice.

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Tax

CGT small business concession win

CGT small business concessions

The ability to make contributions under the CGT small business concessions has been broadened due to new legislation governing contributions.

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Contributions

Subtle change to NCC rules

Non-concessional contributions

The new contribution rules to take effect on 1 July 2022 contain a subtle difference to the current legislation requiring a work test to be satisfied.

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ATO, LRBA

ATO extends LRBA amnesty

LRBA compliance relief

Compliance relief regarding amended non-bank limited recourse borrowing arrangements has been extended through an amendment to PCG 2016/5.

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Regulation

Call for minimum pension relief extension

pension relief AIR

A call has been made for the government to extend the lower minimum pension financial relief measure to include the 2023 financial year.

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Regulation, Superannuation

Calls for more super reform

superannuation reform

More reform of the superannuation system has been recommended in federal budget submissions by a variety of industry stakeholders.

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Compliance, Regulation

Director ID request a one-off

director ID

An application for a director identification number will only be required once regardless of when it is used or activated.

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