Articles by Darin Tyson-Chan

ATO, Superannuation

Disputed member exits an issue

member exits SMSF

Protracted member exits are beginning to be treated more severely by the ATO as it becomes a growing issue across the SMSF sector.

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ASIC, FASEA

ASIC supporting scaled advice

ASIC scaled advice

ASIC is working on solutions to allow practitioners to comply with their legal obligations while providing scaled advice.

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Contributions, Superannuation

Downsizer timing now more important

Downsizer contibution timing

The timing of downsizer provisions contained in this year’s budget will take on more significance from 1 July 2022.

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Retirement, Superannuation

New residency rules lack precision

SMSF residency rules

Changes to residency rules announced in last week’s federal budget may not eliminate harsh outcomes resulting from breaches of the law covering this area.

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Compliance, Contributions

Reserving strategy riskier for NCCs

NCCs reserving strategy

Non-concessional contributions carry more compliance risk when used as part of a contribution reserving strategy due to their unconventional nature.

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Contributions, Superannuation

AIR welcomes increased super flexibility

budget superannuation retirees

The budget measures improving the ability for individuals to make contributions to their super funds has been praised by retirees.

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Pensions, Superannuation, Tax

Tax on pension reserves a concern

legacy pension reserves

The severity of the tax treatment of reserves associated with legacy pensions contained in this year’s budget is cause for concern.

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Contributions, Strategy

New downsizer preservation issue

downsizer super preservation

The reduction in the eligible age for downsizer contributions has given rise to a super benefit preservation issue.

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Contributions

Bring-forward NCCs now less relevant

bring-forward NCC

The elimination of the work test has potentially impacted the relevance of the bring-forward non-concessional contribution provisions.

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Pensions

Legacy pension shift a real positive

legacy pensions

The decision in this year’s federal budget to give individuals a two-year opportunity to commute legacy pensions has been well received by SMSF stakeholders.

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