News : Regulation

ATO, Pensions, Regulation, Superannuation

Commissioner TBC ruling not unconstitutional

Transfer balance cap

The Administrative Appeals Tribunal has upheld a decision by the tax commissioner that commuting an excess over the transfer balance cap was unconstitutional and carried out on unjust terms.

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Administration, Compliance, Regulation, SMSF

Ruling clarifies SMSF director-executor pay

SMSF director executor

A recent court ruling has clarified whether an SMSF is legally required to compensate a director when they are appointed as both a director and executor of an SMSF.

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Compliance, NALI/NALE, Regulation, SMSF, SMSFA

Repeal NALE or fix related issues

NALE

The SMSF Association has called on the government to repeal the NALE provisions or provide solutions to further problems they will create.

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Regulation, SMSF, Tax

Imputation system changes bad for SMSFs

Franking credits

The proposed changes to the franking credits regime could have a significant impact on trustees who rely on the credits to benefit from lower taxation rates offered by their SMSFs.

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financial advice, Regulation, SMSFA

Levy to address SMSFA tech summit

Quality of advice review

The author of the Quality of Advice Review report Michelle Levy will unpack the government’s response to it at this year’s SMSF Association Technical Summit.

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Regulation, SMSF, Tax

Changes to super will not end

superannuation changes

The size of assets held within superannuation means governments are likely to make ongoing changes such as the proposed $3 million tax.

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financial advice, Regulation

QAR accountants exclusion highlighted again

QAR accountants

The Quality of Advice Review recommendations and the government’s acceptance of them have overlooked the role accountants have in providing financial advice.

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Compliance, financial advice, Regulation

Jones accepts majority of QAR proposals

QAR recommendations

The government will accept many of the recommendations of the Quality of Advice Review, but has reserved its position on how some of them will be enacted.

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Compliance, Regulation, SMSFA, Tax

SMSFA supports franking credits review

Franking credits review

The SMSF Association has backed further review of proposed franking credit amendments, expressing concerns over potential impacts on legitimate business operations.

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Compliance, Regulation, Tax

ASA backs franking credits clarification

Franking credits

The Australian Shareholders’ Association believes the proposal to limit franking credits from capital raisings is unnecessary and requires clearer guidance to avoid unintended consequences.

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