News : Legislation

Compliance, Contributions, Legislation, Regulation, Strategy

Likely EOFY retiree contribution issue

A specific interaction between super and tax law means a small group of retirees may face a narrow window of time in which to make contributions.

A specific interaction between super and tax law means a small group of retirees may face a narrow window of time in which to make contributions.

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Compliance, Legislation, Practice Management, Regulation

FAAA launches AML/CTF solution

The FAAA is launching a new digital solution to help its members meet their AML/CTF customer due diligence requirements.

The FAAA is launching a new digital solution to help its members meet their AML/CTF customer due diligence requirements.

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ECPI, Legislation, Pensions, Regulation, Retirement

Record-keeping timeframe now relevant

Practitioners taking on new clients where the 2017 CGT cost base reset is relevant should be mindful of the legal timeframe regarding record-keeping.

Practitioners taking on new clients where the 2017 CGT cost base reset is relevant should be mindful of the legal timeframe regarding record-keeping.

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Compliance, Division 296, Legislation, Regulation, Tax

Avoid Div 296 reduction strategies

The Division 296 tax liabilities are unlikely to be significant enough to justify deliberate efforts to avoid the applicable threshold.

The Division 296 tax liabilities are unlikely to be significant enough to justify deliberate efforts to avoid the applicable threshold.

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Compliance, Documentation, Legislation, Pensions, Regulation

Pension documentation flexibility needed

Pension documentation should be drafted in the most flexible manner to allow trustees to manage their minimum pension obligations efficiently.

Pension documentation should be drafted in the most flexible manner to allow trustees to manage their minimum pension obligations efficiently.

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Auditing, Compliance, Cryptocurrency, Investments, Legislation, Regulation

Crypto audit guidelines issued

The ATO has provided auditors with a set of guidelines to assist them in the servicing of SMSFs with allocations to cryptocurrency.

The ATO has provided auditors with a set of guidelines to assist them in the servicing of SMSFs with allocations to cryptocurrency.

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ASIC, Compliance, Legislation

Shield, First Guardian adviser restrained

ASIC has restrained the activities of an adviser who recommended clients invest their super into the Shield and First Guardian master funds.

ASIC has restrained the activities of an adviser who recommended clients invest their super into the Shield and First Guardian master funds.

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Compliance, Division 296, Legislation, Tax

Fancy doing that

The government announcement indicating the Division 296 tax measure has been changed represents a huge policy backflip.

The government announcement indicating the Division 296 tax measure has been changed represents a huge policy backflip.

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Administration, Compliance, Legislation, Regulation

ATO reveals common admin errors

Common errors trustees are making with regard to SMSF annual returns have been recognised and revealed by the sector regulator.

Common errors trustees are making with regard to SMSF annual returns have been recognised and revealed by the sector regulator.

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Auditing, Compliance, Documentation, Legislation, Regulation

Flag deed chain problems in audit

Auditor obligations to ensure a deed is executed correctly should extend to checking it remains compliant if old or amended.

Auditor obligations to ensure a deed is executed correctly should extend to checking it remains compliant if old or amended.

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