Articles by Todd Wills

Investments, NALI/NALE

In-specie contribution evidence vital

In-specie contribution NALI

Trustees must ensure they are keeping and submitting accurate documentation regarding their in-specie contributions when the NALI compliance period begins.

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ATO, Auditing, Compliance, Superannuation

Accurate notices of intent vital

Notices of intent

Notices of intent in relation to personal contributions will not be covered by the audit process this year putting greater onus on SMSF members to ensure they are accurate.

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Business News, financial advice

FSC appoints Power to board

FSC Kelly Power

The Financial Services Council has added an experienced financial executive to its board of directors.

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ATO, SMSF

Notice of intent must be acknowledged

Notices of Intent

The ATO has reminded trustees they must acknowledge any Notices of Intent received and update SMSF details promptly prior to the end of the financial year.

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LRBA

LRBAs face interest rate risks

Interest rate LRBAs

An SMSF specialist has warned fund members the recent and continuing interest rate rises will have impacts for their LRBA repayment obligations.

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Business News, fraud, Superannuation

Govt to set up scam prevention hub

Scam prevention

The government will set up a scam prevention centre to detect scams, share data and inform the public about new scams and fraudulent schemes.

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ATO, Superannuation

ATO sets date for personal TBC availability

TBC

Super fund members will gain access to personal TBC details early in the new financial year but should report outstanding information now.

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Superannuation, Tax

Super earnings tax is double taxation

Super earnings double taxation

The earnings tax on superannuation balances above $3 million is a wealth tax and will subject fund members to a form of double taxation.

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NALI/NALE, Superannuation, Tax

Govt has ignored industry concerns

NALE super tax

The federal government has ignored the superannuation sector in regards to the proposed $3 million super tax and NALE based on its budget announcements.

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NALI/NALE, SMSFA, Superannuation, Tax

Soft cap tax needs further consultation

super tax consultation

The SMSF Association has called on the government to allow for further consultation on the proposed soft cap tax after the budget unveiled no modifications to the measure.

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