News : SMSF

SMSF, Tax

Market use no relevance for Merchant

The avenue used for the share transaction in the Merchant case would have made no difference as to whether the arrangement was a Part IVA breach.

The avenue used for the share transaction in the Merchant case would have made no difference as to whether the arrangement was a Part IVA breach.

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Compliance, SMSF, Superannuation

More protection needed for SMSF switching

Consumer protections need to be improved for rollovers to SMSFs in the wake of the Shield and First Guardian collapses.

Consumer protections need to be improved for rollovers to SMSFs in the wake of the Shield and First Guardian collapses.

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SMSF, Superannuation

SMSFs ideal for minor children

SMSFs are well placed to reduce the costs of holding the super of minor children engaged in part-time and seasonal work.

SMSFs are well placed to reduce the costs of holding the super of minor children engaged in part-time and seasonal work.

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financial advice, Financial Planning, SMSF

SMSF-related complaints noteworthy

The number SMSF-related issues raised with the Australian Financial Complaints Authority for the September quarter continued to be high.

The number of SMSF-related issues raised with the Australian Financial Complaints Authority for the September quarter continued to be high.

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Division 296, SMSF, Superannuation, Tax

Div 296 will still segregate tax bills

The treatment of capital gains under the Division 296 impost will not change, with individuals unable to offset personal tax with that paid by their fund.

The treatment of capital gains under the Division 296 impost will not change, with individuals unable to offset personal tax with that paid by their fund.

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financial advice, Financial Planning, SMSF

SMSFs classed as risky in new framework

A new framework has been put forward that will simplify the provision of advice, but ranks SMSFs as complex and risky.

A new framework has been put forward that will simplify the provision of advice, but ranks SMSFs as complex and risky.

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Documentation, SMSF

Wind-up documents often forgotten

Advisers and trustees can forget key documents when winding up an SMSF, requiring extra vigilance from auditors with these funds.

Advisers and trustees can forget key documents when winding up an SMSF, requiring extra vigilance from auditors with these funds.

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Documentation, SMSF, Trusts

Add family members on conditional basis

SMSF trustees should admit new members on a conditional basis only to create a built-in mechanism to eject them if necessary.

SMSF trustees should admit new members on a conditional basis only to create a built-in mechanism to eject them if necessary.

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Education, SMSF, Superannuation

Call for SMSF ‘nudge’ in DBFO package

The peak SMSF body has called on the government to extend the member ‘nudge’ rules beyond industry and retail super funds.

The peak SMSF body has called on the government to extend the member ‘nudge’ rules beyond industry and retail super funds.

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financial advice, Financial Planning, SMSF

Advice-related complaints surge

Complaints to AFCA regarding investments and advice jumped in the last financial year, with a significant number relating to the use of SMSFs.

Complaints to AFCA regarding investments and advice jumped in the last financial year, with a significant number relating to the use of SMSFs.

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