News : Regulation

ATO, Regulation, Superannuation, Trusts

High Court can hear Bendel appeal

self managed super, self managed superannuation, SMSF, ATO, High Court appeal, unpaid present entitlements, UPE, Federal Court, Commissioner of Taxation v Bendel, unit trusts, loans, Division 7A, financial accommodation

The High Court has granted leave for the ATO to appeal the Bendel case decision related to the treatment of unpaid present entitlements.

read more
Compliance, NALI/NALE, Regulation

Law clear on arm’s-length status

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, related-party transactions, non-arm’s-length income, ASF Audits, Shelley Banton, arm’s-length arrangements, section 109, SIS Act, Part 8 associate

How parties can deal with each other on arm’s-length terms is not confusing as super law has clear parameters on what is expected during SMSF transactions.

read more
Pensions, Regulation

Legacy pension debt waiver still pending

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, commutation, legacy pension, asset test exemption, Heffron, Leigh Mansell, amnesty, legislative instrument, debt waiver, Centrelink, age pension entitlements, disallowance period

While SMSF members have been able to commute legacy pensions since late last year, the regulations waiving Centrelink debts are still not operational.

read more
ATO, Compliance, Regulation

Penalties highlight member loan flaw

Smarter SMSF, education, Tim Miller, ATO, The Auditors Institute,

Advisers viewing financial assistance to members as a lesser issue than illegal access should examine the related penalties and cease recommending it.

read more
Contributions, Regulation, Superannuation

Industry calls for payday super delay

Payday Super, Treasury, submission

A consortium of financial services industry groups have asked Treasury to extend the start date of payday super by two years.

read more
financial advice, Financial Planning, Legislation, Regulation

Govt must start advice reform

The FAAA has called on the government to implement a number of key reforms to the advice sector following its return to office in the federal election over the weekend.

The FAAA has called on the government to implement a number of key reforms to the advice sector following its return to office in the federal election over the weekend.

read more
Regulation, Superannuation

Smaller funds bear larger regulatory burden

Reform of the regulatory cost levies charged to APRA-regulated super fund members is needed as those in medium and smaller retirement savings vehicles pay more than those in large ones each year.

Reform of the regulatory cost levies charged to APRA-regulated super fund members is needed as those in medium and smaller retirement savings vehicles pay more than those in large ones each year.

read more
Insurance, Regulation, SMSF, Superannuation

Birth date impacts bring-forward NCCs

Non-concessional contributions, Craig Day, Linda Bruce, Colonial First State, CFS,

The provisions allowing SMSF members to trigger the NCC bring-forward rules in a subsequent financial year are birth-date sensitive.

read more
ATO, Regulation, SMSF, Superannuation

Payday super tweak needed for SMSFs

Institute of Financial Professionals Australia, IFP, Natasha Panagis, ATO, payday superannuation payments, Treasury,

Consideration will need to be given to the status of SMSFs under any payday super regime to ensure employer contributions can go to a fund that is temporarily unable to receive them.

read more
ATO, NALI/NALE, Regulation, SMSF, Superannuation

No ATO guidance to define breaches

ATO guidance, breach, illegal early access, superannuation, SMSF, self managed super, loans to members, ATO, Emma Rosenzweig

The ATO has stipulated illegal early access of super benefits and SMSF loans to members do not warrant guidance as both are compliance breaches.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.