Removing dividend imputation credit refunds could result in unintended consequences, including driving a bias to certain asset classes or distorting the system in other ways, according to several industry bodies.

The Federal Court has ordered Perth-based property scheme Superfunded be wound up after an Australian Securities and Investments Commission (ASIC) investigation found it encouraged or promoted the illegal early release of super via the establishment of an SMSF.

The Federal Court handed down a very significant decision for SMSFs in December last year that largely went unnoticed.

The Tax Practitioners Board (TPB) has warned registered tax practitioners that inadequate procedures and policies in relation to their outsourcing or offshoring arrangements could breach its Code of Professional Conduct.

The Australian Securities and Investments Commission (ASIC) has applied to the Federal Court for the appointment of a liquidator to a Perth-based SMSF property scheme business.

The federal government today released exposure draft regulations that support the transfer of the early release of superannuation benefits to the ATO.