News : Legislation

Legislation, SMSF, SMSFA, Tax

Unchanged Div 296 bill not certain

SMSF SMSF Association Self-managed superannuation Division 296 tax LRBA Limited recourse borrowing arrangement Peter Burgess Unrealised capital gains SMSF Association Technical Summit

The SMSF Association has predicted there is an even chance the proposed Division 296 tax bill will be amended over concerns relating to its calculation method and unrealised gains.

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Legislation, SMSF, Superannuation, Tax

Withdrawals can eliminate $3m cap liability

SMSF Self-managed superannuation SMSF Association Technical Summit Division 296 tax Liability Withdrawals Total superannuation balance

SMSF drawdowns can allow members to maintain a total super balance of $3 million or less and escape a Division 296 tax liability.

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Legislation, Regulation, SMSF, Tax

Is the Div 296 tax as bad as it’s made out to be?

Division 296 tax Total superannuation balance SMSF Self-managed superannuation $3 million threshold Accurium Anthony Cullen

Having a total super balance below $3 million at 30 June 2026 does not necessarily mean you should ignore the implications of the Division 296 tax.

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Legislation, Regulation, SMSF

Residency rule change may be closer

Residency SMSF Self-managed superannuation Active member test Safe harbour

The proposed changes to the superannuation residency rules first put forward in 2021 may be closer to coming to fruition.

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Legislation, SMSF, Tax

Div 296 tax most impactful change

Super balances Division 296 tax SMSF Self-managed superannuation Super balances Yigit Gunhan Investment trends

Practitioners have nominated the proposed Division 296 tax as the legislative change that will have the greatest impact on clients in the immediate term.

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Legislation, NALI/NALE, SMSFA

NALE law missing key elements

Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2023 SMSF Association NALE Non-arm's-length expenditure

The recently passed law to clarify the NALE rules is an improvement over the previous regime, but several issues of concern remain unaddressed.

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Legislation, SMSF, SMSFA

Early election could delay Division 296 bill

SMSF Association Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) bill SMSF Self-managed superannuation Division 296 tax

The proposed Division 296 tax may not pass through parliament until 2025 if an election is announced in August.

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Legislation, LRBA, SMSFA, Tax

SMSFA staunchly defends LRBAs

SMSF LRBA Division 296 tax SMSF Association Greens

The ability for SMSFs to use limited recourse borrowing arrangements has been defended amid renewed calls from some politicians to ban them.

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Legislation, Regulation, Retirement

Simple retirement contributions reform needed

Retiree Super Members Council Contribution

The government should remove the rule that requires retirees to open a new accumulation-phase super fund for contributions if they decide to engage in part-time work.

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Legislation, NALI/NALE

NALE bill in parliament stalemate

NALE Small business asset write-off Parliament House of Representatives Senate

The bill that will introduce the NALE general expenses provisions is locked up in parliament as the two houses disagree over proposed amendments.

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