News : Regulation

Compliance, Education, Legislation, Regulation, SMSFA

Education directions need fine-tuning

Proposed education directions for SMSF trustees need improvement to be more useful in directing and guiding behaviour.

Proposed education directions for SMSF trustees need improvement to be more useful in directing and guiding behaviour.

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Compliance, Legislation, Property, Regulation, Residential Property

Property developments treated harshly

A recent trustee experience has demonstrated the ATO does not view SMSF investments in property developments involving a related party favourably.

A recent trustee experience has demonstrated the ATO does not view SMSF investments in property developments involving a related party favourably.

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Compliance, Contributions, Legislation, Regulation, Superannuation

Call for Payday Super relief extension

Seven industry bodies have recommended the ATO extend transitional relief for the Payday Super reforms out to 30 June 2028.

Seven industry bodies have recommended the ATO extend transitional relief for the Payday Super reforms out to 30 June 2028.

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Compliance, Contributions, Legislation, Regulation, Strategy

Likely EOFY retiree contribution issue

A specific interaction between super and tax law means a small group of retirees may face a narrow window of time in which to make contributions.

A specific interaction between super and tax law means a small group of retirees may face a narrow window of time in which to make contributions.

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Compliance, Legislation, Practice Management, Regulation

FAAA launches AML/CTF solution

The FAAA is launching a new digital solution to help its members meet their AML/CTF customer due diligence requirements.

The FAAA is launching a new digital solution to help its members meet their AML/CTF customer due diligence requirements.

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ECPI, Legislation, Pensions, Regulation, Retirement

Record-keeping timeframe now relevant

Practitioners taking on new clients where the 2017 CGT cost base reset is relevant should be mindful of the legal timeframe regarding record-keeping.

Practitioners taking on new clients where the 2017 CGT cost base reset is relevant should be mindful of the legal timeframe regarding record-keeping.

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Compliance, Division 296, Legislation, Regulation, Tax

Avoid Div 296 reduction strategies

The Division 296 tax liabilities are unlikely to be significant enough to justify deliberate efforts to avoid the applicable threshold.

The Division 296 tax liabilities are unlikely to be significant enough to justify deliberate efforts to avoid the applicable threshold.

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Compliance, Regulation, Superannuation

Complex super rules cost thousands

Australians could be retiring with thousands of dollars more if the superannuation system was simplified.

Australians could be retiring with thousands of dollars more if the superannuation system was simplified.

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Compliance, Documentation, Legislation, Pensions, Regulation

Pension documentation flexibility needed

Pension documentation should be drafted in the most flexible manner to allow trustees to manage their minimum pension obligations efficiently.

Pension documentation should be drafted in the most flexible manner to allow trustees to manage their minimum pension obligations efficiently.

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Auditing, Compliance, Cryptocurrency, Investments, Legislation, Regulation

Crypto audit guidelines issued

The ATO has provided auditors with a set of guidelines to assist them in the servicing of SMSFs with allocations to cryptocurrency.

The ATO has provided auditors with a set of guidelines to assist them in the servicing of SMSFs with allocations to cryptocurrency.

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