Articles by Todd Wills

Retirement, Superannuation

Living costs continue to strain retirees

Retirement Retirees ASFA Cost of living

Retirees are experiencing growing challenges in sustaining a comfortable lifestyle due to the rising costs of basic necessities.

read more
ATO, SMSF

Jump in number of new SMSFs

Established SMSFs SMSF asset allocation SMSF quarterly statistical report September 2023

The September quarter saw the highest number of net SMSFs registered with the ATO in five years, with wind-ups falling to historical lows.

read more
Tax

Franking credits bill becomes law

Legislation to restrict the use of franking credits by public listed companies has received royal assent after it passed both houses of parliament.

read more
Administration, Documentation, Legislation

Paper deeds provide legal certainty

SMSF trust deed electronic execution

Electronically signing a deed may expose it to litigation allowable under a state or territory outside of where the document was initially executed.

read more
ETFs, Investments

Short-term cash ETF hits market

Betashares short term cash ETF

Betashares has expanded its suite of cash and fixed-income fund offerings with the introduction of an Australian cash ETF.

read more
AAT, Compliance, Legislation, Regulation

Past actions can bar trustee appointment

SMSF disqualified trustees Dishonest conduct SIS act

People who wish to become SMSF trustees must present a clean sheet of behaviour in regards to dishonest conduct as past actions can bar them from being appointed.

read more
ATO, Compliance

ATO can act on trustee impasse

Disqualified trustees ATO Acting trustee SIS act

SMSFs at an impasse due to no trustee willing to take action can ask the ATO to step in to appoint someone to manage the fund.

read more
financial advice, Legislation

Industry input crucial to more QAR changes

Stephen Jones Quality of Advice Review Safe harbour Statement of advice QAR

Several outstanding recommendations of the Quality of Advice Review will be legislated in 2024, contingent on further discussions with industry bodies.

read more
Auditing, Compliance, Tax

Avoid flawed valuations to cut tax

Superannuation earnings tax Asset valuations Market value $3m soft cap tax SIS Regulation 8.02B

Attempting to avoid the impact of the $3 million soft cap tax by providing undervalued asset assessments is likely to create more problems for SMSF trustees than it solves.

read more
Property, Tax

GST on property costs essential

SMSF trustees commercial property lease agreement GST

Trustees with a commercial property lease agreement must apply GST to any outgoing costs they expect to recover from a tenant.

read more

Copyright © SMS Magazine 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital