Articles by Krystine Lumanta

Regulation

Govt, regulator innovation gap exists: Ripoll

The rapid innovation and developments occurring in the superannuation sector, particularly with SMSFs, have created reasonable concerns regarding whether the government and regulators are able to keep up with the pace and reduce the lag.

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ATO

IPA calls for ATO IT accountability

The Institute of Public Accountants (IPA) has called for greater accountability from the ATO in the form of a service agreement in light of the ongoing technology issues that have significantly impacted on accountants and tax agents across Australia.

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Business News

BGL starts petition against super reporting

BGL Corporate Solutions has called on the ATO to rethink the new superannuation reporting requirements, labelling them “draconian” and unmandated.

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ATO

ATO clarifies TBAR rules

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ATO SMSF segment assistant commissioner Kasey Macfarlane has addressed industry confusion over what must be reported under the transfer balance account report (TBAR) regime, in addition to outlining potential risks around the 2018 transition date for SMSFs.

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Estate Planning

Advisers overlooking couples with $1.6m

The barrage of superannuation changes has kept SMSF practitioners busy, yet estate planning has been left on the back burner despite the clear implications of the new super rules on that area, particularly for couples with a combined balance over $1.6 million, according to a technical expert.

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Investments

Global equities capable of delivering income

SMSF investors do not have to sacrifice income when diversifying into global equities as there are ample dividend prospects offshore.

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Business News

Policy silos must be broken down

The SMSF Association has stressed the silo mentality in public policy formulation must end as isolated policy settings have predictably impacted on other policy areas, causing negative outcomes for the industry.

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ATO

ATO anticipates NCC transition issues

The ATO has flagged the transitional rules for non-concessional contribution (NCC) bring-forward amounts as an expected pain point as SMSF advisers continue to work out in which financial year the rule was triggered in line with their clients’ total super balance.

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Investments

India must be key growth focus for SMSFs

SMSF trustees and advisers need to recognise the opportunity for growth in India as portfolio exposure to the world’s fastest-growing major economy has been relatively slow.

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Business News

Collaboration inspires confidence: SMSFA

The SMSF Association’s chief has underscored the importance of collaboration between all sectors of superannuation in order to boost confidence in the $2.3 trillion retirement savings system.

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