News : Legislation

Compliance, Division 296, Legislation, Tax

Potential Div 296 impact grows

The latest industry research has highlighted a growing number of SMSFs will be impacted by the proposed Division 296 tax.

The latest industry research has highlighted a growing number of SMSFs will be impacted by the proposed Division 296 tax.

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Administration, Legislation, Regulation

Trustee rule breaches have SIS relief

The Superannuation Industry (Supervision) Act provides some relief for SMSF trustees who have breached the rules by which they are bound.

The Superannuation Industry (Supervision) Act provides some relief for SMSF trustees who have breached the rules by which they are bound.

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Compliance, Legislation, Regulation

Member numbers determine trustee rules

The number of members included in an SMSF will be the most important factor in determining the obligations and responsibilities of the fund trustees.

The number of members included in an SMSF will be the most important factor in determining the obligations and responsibilities of the fund trustees.

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Compliance, financial advice, Financial Planning, Legislation, Regulation

CSLR blowout must be shared

The shortfall regarding CSLR funding should be spread across all financial services sectors as well as the government sector.

The funding shortfall regarding the CSLR should be borne by the entire financial services industry as well as the government sector.

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Compliance, Legislation, Regulation, Tax

Avoid family split payment shortcuts

An order issued in the event of a family split must be executed properly without shortcuts to allow the intended outcome to eventuate.

An order issued in the event of a family split must be executed properly without shortcuts to allow the intended outcome to eventuate.

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ATO, Division 296, Legislation, Tax

Taxpayer will get Div 296 notification

The ATO notification regarding a Division 296 tax liability will be sent directly to the taxpayer and will not involve their superannuation fund.

The ATO notification regarding a Division 296 tax liability will be sent directly to the taxpayer and will not involve their superannuation fund.

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Division 296, Legislation, Tax

Super tax timeframe still undetermined

The government has not publicly committed to a date to introduce the Division 296 legislation stating it has until 2026 to do so.

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ASIC, financial advice, Financial Planning, Legislation

Former adviser appears in court

The alleged misappropriation of $4.1 million belonging to clients has seen a former financial adviser front the Perth Magistrates Court.

The alleged misappropriation of $4.1 million belonging to clients has seen a former financial adviser front the Perth Magistrates Court.

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Division 296, Legislation, Regulation, Tax

Old claims can’t justify Div 296 start

Two-year-old arguments from the government are not sufficient justification to implement the proposed Division 296 tax or backdate its commencement.

Two-year-old arguments from the government are not sufficient justification to implement the proposed Division 296 tax or backdate its commencement.

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Division 296, Legislation, Regulation, Tax

Uncertainty over super tax continues

Speculation over the Division 296 tax measure is continuing as to its progression and whether the government will keep pursuing it.

Speculation over the Division 296 tax measure is continuing as to its progression and whether the government will keep pursuing it.

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