News : Regulation

Behind the budget – the unwritten stuff

November 16, 2022

The sector will await the next budget to see if the abolition of the active member test is part of moves to relax SMSF residency requirements.

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Regulation, Superannuation

Current-day benefits can be okay

November 3, 2022

Darin Tyson-Chan

SMSF members can enjoy present-day benefits from investments in certain circumstances without breaching the sole purpose test.

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Regulation, Superannuation

No residency rule details as yet

October 26, 2022

Darin Tyson-Chan

The change to the superannuation residency rules is still on the policy agenda, but how it will be implemented is not yet known.

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Compliance, Documentation, Regulation

More timely SMSF data likely

October 6, 2022

Jason Spits

SMSF data reporting will need to be more timely and accurate to enable governments to make better superannuation policy in the future.

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Compliance, Regulation

TBAR change to compress reporting dates

September 8, 2022

Jason Spits

The shift to quarterly transfer balance account reporting will compress a number of annual reporting dates into a single day not related to a fund’s annual return lodgement.

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Pensions, Regulation

SMSFA outlines key changes for govt

September 7, 2022

Jason Spits

A legacy pension amnesty and extension of the temporary absence rule are critical measures the government should introduce.

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Compliance, Regulation

Director ID process user unfriendly

director identification elderly trustees

June 28, 2022

Darin Tyson-Chan

Anecdotal evidence has indicated the application process to obtain a director identification number is proving extremely hard for elderly trustees.

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Regulation

Government urged to enact NALI changes

June 23, 2022

Tia Thomas

The Tax Institute has pointed out to the government key superannuation areas needing attention, including amendments promised prior to the federal election.

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Financial Planning, Regulation

Advice delivers trustee opportunities

June 21, 2022

Darin Tyson-Chan

Specialist financial advice is providing trustees with better regulatory knowledge that can lead to a material benefit for their SMSF.

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Regulation

DDO regime should include carve-out

June 20, 2022

Jason Spits

SMSFs should be exempt from design and distribution obligations as they are not products, but personalised structures used by members to access products.

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