News : Legislation

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.

read more
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.

read more
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.

read more
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.

read more
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.

read more
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.

read more
Legislation, Superannuation, Tax

Simpler Div 296 calculation possible

Division 296 calculation method SMSF Retail superannuation Industry superannuation MLC Julie Steed

The supposed administrative impost that led to the government’s Division 296 calculation method could have been avoided using direct reporting for the non-SMSF members affected.

read more
Legislation, Pensions, SMSF, Tax

Div 296 to worsen legacy pensions

Legacy pensions Division 296 tax Defined benefit pension SMSF Professionals Day 2024

The proposed Division 296 tax should have led to the inclusion of a measure in the 2024 federal budget allowing legacy pensions to be scrapped.

read more
Compliance, Legislation, SMSF, Tax

Div 296 myths already present

Division 296 tax SMSF Myths

Myths regarding the operation of the proposed Division 296 tax are already evident and may cause unnecessary and flawed SMSF strategies.

read more
AAT, ATO, Compliance, Legislation, Regulation

Disqualification overturned despite breaches

AAT ATO Trustee disqualification SMSF Gordon Merchant

The AAT has overturned the disqualification as trustee of the founder of Billabong despite several breaches of superannuation laws.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.