News : SMSF

Business News, Legislation, SMSF, Superannuation, Tax

Treasurer’s Div 296 claims rebutted

January 23, 2025

The SMSF Association has rejected the latest justification Treasurer Jim Chalmers has made regarding contentious elements of the Division 296 tax.

Investment strategy approach getting better

The importance accountants and advisers are placing on the SMSF investment strategy and the associated ongoing compliance obligations has improved.

January 23, 2025

Darin Tyson-Chan

The importance accountants and advisers are placing on the SMSF investment strategy and the associated ongoing compliance obligations has improved.

CSLR flaws again highlighted

The FAAA has used its latest submission to the Senate Economics Committee to renew its criticism of how the CSLR has been implemented.

January 23, 2025

Darin Tyson-Chan

The FAAA has used its latest submission to the Senate Economics Committee to renew its criticism of how the CSLR has been implemented.

Early super release review possible

The recent spike in the early release of super benefits on compassionate grounds could lead to a revision of these rules in the near future.

January 22, 2025

Darin Tyson-Chan

The recent spike in the early release of super benefits on compassionate grounds could lead to a revision of these rules in the near future.

Recurrent NALE terminology clarified

The ATO has revised its definition of NALE that occurs in one income year but not the next as part of its new guidance on how it will administer the NALI regime.

January 22, 2025

Jason Spits

The ATO has revised its definition of NALE that occurs in one income year but not the next as part of its new guidance on how it will administer the NALI regime.

Call made to stop super tampering

A pre-election report has called on the future government to reform the tax system as a whole rather than just the superannuation component.

January 22, 2025

Lara Caughey

A pre-election report has called on the future government to reform the tax system as a whole rather than just the superannuation component.

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ATO, Pensions, SMSF, Superannuation, Tax, Trusts

Pension phase negates fee deductions

An SMSF with only a pension phase interest is unlikely to be able to claim a tax deduction for an accounting fee charged to the fund.

January 21, 2025

Darin Tyson-Chan

An SMSF with only a pension phase interest is unlikely to be able to claim a tax deduction for an accounting fee charged to the fund.

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Business News, SMSF, Superannuation, Tax

Coalition reiterates Div 296 opposition

The coalition has confirmed it will scrap the Division 296 tax when it is returned to power if the measure becomes law under the Labor government.

January 21, 2025

Darin Tyson-Chan

The coalition has confirmed it will scrap the Division 296 tax when it is returned to power if the measure becomes law under the Labor government.

Long-short ETF launched

A new ETF will be made available to investors next week that will be the first to utilise a long short strategy to generate returns.

January 21, 2025

Lara Caughey

A new ETF will be made available to investors next week that will be the first to utilise a long short strategy to generate returns.

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ATO, Auditing, SMSF, Superannuation, Tax

Risk reduction for ATO auditor reviews

SMSF auditors should consider a rule of thumb that will be of great benefit should they ever experience a regulator review or investigation.

January 21, 2025

Bryce Figot

SMSF auditors should consider a rule of thumb that will be of great benefit should they ever experience a regulator review or investigation.

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