Articles by Todd Wills

Pensions, SMSF, Superannuation

Terminal illness withdrawal choice crucial

Terminal medical condition Pension Lump sum Heffron Sean Johnston

Choosing how to access superannuation entitlements is a crucial consideration for terminally ill SMSF trustees as it can greatly impact the tax they will have to pay.

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AAT, ATO, Regulation, SMSF

AAT rejects trustee disqualification appeal

Administrative Appeals Tribunal AAT ATO SMSF Self-managed superannuation fund Disqualification SIS Act Coronica and Commissioner of Taxation [2024] Superannuation Industry (Supervision) (SIS) Act

A banned SMSF trustee has failed to have his disqualification overturned, with the AAT stating the breaches he committed were too numerous and serious to disregard.

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Administration, ATO, Regulation, Tax

SMSFs still eligible for GST rebate

GST SMSF Heffron ATO Self-managed super Reduced input tax credits

SMSFs may still be able to claim a rebate for the GST charged on financial advice fees from 1 July 2024.

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ETFs, Investments

Betashares releases momentum ETF

Betashares ETF Momentum investing

Betashares has unveiled Australia’s first momentum-based ETF, providing investors with a new strategy to access high-performing Australian equities.

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Technology

First Financial signs on with SuperMate

First Financial SuperMate SuperConcepts

Wealth management firm First Financial will use the SuperMate platform to manage its SMSF clients under a new partnership agreement.

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Estate Planning, SMSF

Early action key in estate planning

Tim Miller Smarter SMSF Self-managed super Estate planning SMSF

Practitioners should start conversations with their SMSF clients early in the fund set-up process to ensure the best outcome in the event a member passes away.

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ATO, Education

ATO releases SMSF education courses

ATO Education course Establishment Wind-up SMSF Self-managed super fund

The ATO has launched two new educational courses on its website to guide SMSF trustees through setting up or winding down a fund.

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Regulation, Tax

Coalition slams tax agent code changes

Tax agent Luke Howarth Stephen Jones Code of Professional Conduct Tax Practitioners Board

A government measure to introduce new obligations into the code of conduct for tax agents will impose an excessive compliance burden on smaller practitioners.

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Compliance, Regulation, Tax

Consultation open on tax agent changes

Consultation Tax agents Tax Practitioner's Board Treasury Registration requirements IFPA

Treasury has released a consultation paper proposing changes to the registration requirements for tax practitioners.

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Auditing, Regulation, SMSF

Auditors must report trustee interference

SMSF SMSF auditor Self-managed superannuation Undue influence SIS Act Superannuation (Industry) Supervision (SIS) Act ATO Auditor contravention report ACR

SMSF auditors could face hefty fines or even prison time if they fail to notify the ATO when a trustee tries to sway the outcome of an audit of their fund.

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