News : Legislation

financial advice, Legislation, Regulation, SMSF, Superannuation, Trusts

Proof of transaction terms a concern

The procedures of SMSF auditors pertaining to transactions conducted at arm’s length have been recognised as an area of regulatory concern.

The procedures of SMSF auditors pertaining to transactions conducted at arm’s length have been recognised as an area of regulatory concern.

read more
Accounting, Legislation, SMSF, Superannuation, Tax

Board finalises conduct code guidance

Tax agents must adhere to eight new reforms finalised last month by the TPB, which is committed to supporting the transition via education.

Tax agents must adhere to eight new reforms finalised last month by the TPB, which is committed to supporting the transition via education.

read more
Investments, Legislation, SMSF, Superannuation

Proper CSLR process possibly omitted

New information obtained by the FAAA indicates the requirement to perform an analysis of the CSLR before its implementation may have been overlooked.

New information obtained by the FAAA indicates the requirement to perform an analysis of the CSLR before its implementation may have been overlooked.

read more
Legislation, Pensions, SMSF, Superannuation

Safe to act on legacy pensions now

SMSF members can act with confidence that any moves to exit a legacy pension now cannot be undone even if parliament winds back the changes later this year.

read more
Legislation

Crossbencher influence to increase

The influence of crossbenchers in the Senate will continue to be important when parliament resumes in February and is likely to be boosted following the looming federal election.

The influence of crossbenchers in the Senate will continue to be important when parliament resumes in February and is likely to be boosted following the looming federal election.

read more
Legislation, Tax

Slow Div 296 progress may delay start date

The slow progress of the Division 296 bill through parliament has eaten into the time set aside to prepare for its implementation, meaning its possible start date may also be pushed back.

read more
Legislation, Superannuation

Super objective will not reshape Div 296

superannuation, SMSF,

The government is likely to use the objective of super to promote the implementation of the Division 296 tax, stating it is consistent with its role as the defender of the retirement income system.

read more
Legislation, Superannuation

Objective of super enshrined in law

The legislation to enshrine an objective for superannuation has passed through parliament as part of a flurry of bills approved before the Senate ended its business for the year.

read more
Investments, Legislation, Tax

Share volatility exposes Div 296 severity

Division 296 tax Total superannuation balance Equities SMSF Self-managed superannuation Unrealised capital gains

The Division 296 tax could lead to particularly unfair outcomes in situations where SMSFs hold certain equities that experience significant fluctuations.

read more
Administration, Legislation, Pensions

Defining reserves key to pension exit

Reserve Legacy pension Non-concessional contributions cap Concessional contribution cap Commutation

The definition of a reserve is likely to impact the extent to which it can be extinguished under the proposed legacy pension amnesty.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.