News : Regulation

Related-party collectable rules strict

November 14, 2023

SIS Regulations SMSF related party personal use assets collectables

The Superannuation Industry (Supervision) Regulations impose many restrictions on related-party transactions involving personal-use assets of an SMSF.

Draft bill to enact QAR changes released

Quality of Advice Review recommendations Draft legislation

November 14, 2023

Todd Wills

A long-awaited bill to enshrine some of the recommendations of the Quality of Advice Review has been released by Treasury.

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Legislation, Regulation, Superannuation

Super objective remains rejected

Objective of superannuation IFPA Natasha Panagis

October 3, 2023

Darin Tyson-Chan

The objective of superannuation proposed in draft legislation tabled last month has not got Institute of Financial Professionals Australia backing.

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Regulation, Superannuation, Tax

Super funds already differentiated

September 28, 2023

Darin Tyson-Chan

The reasoning behind the calculation of the proposed tax on the $3 million soft cap is at odds with other aspects of the superannuation system.

Super objective scope unclear

September 27, 2023

Todd Wills

Draft legislation to enshrine the objective of superannuation into law does not include any guidance as to whether auxiliary measures would need to align with it.

SMSFA calls for residency reform completion

September 26, 2023

Todd Wills

The SMSF Association has urged the government to fulfil its promise to complete reforms to the SMSF residency rules first put forward by its predecessors two years ago.

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ATO, Regulation, SMSF

Voluntary disclosure needs tenacity

September 21, 2023

Darin Tyson-Chan

Patience and persistence are required when looking to use the ATO’s early engagement and voluntary disclosure scheme to secure a satisfactory outcome.

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Compliance, Regulation, SMSFA