News : SMSF

financial advice, Financial Planning, SMSF, Tax

Greater advice tax deductibility for SMSFs

SMSF practitioners have the ability to present their clients with larger tax savings on financial advice due to the ATO’s jurisdiction over the SIS Act.

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SMSF, Tax

Future Div 296 indexation not a lock

Superannuants should not assume any future government will definitely introduce an indexation measure to the Division 296 tax legislation.

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financial advice, Financial Planning, SMSF

Advised SMSFs increase as sector grows

SMSF, self managed super, financial advice, Vanguard, Investment Trends, SMSF trustees, Renae Smith, financial adviser, intergenerational wealth transfers, estate planning, unadvised SMSF, advised SMSF, life insurance

The ongoing growth of the SMSF sector has been matched by the number of funds receiving advice, but a major cohort still does not receive any form of professional help.

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SMSF, Tax

Assistant minister fails basic maths on tax

SMSF, self managed super, Division 296, concessional treatment, superannuation earnings, Accurium, Mark Ellem, Assistant Minister for Treasury, Andrew Leigh, $3 million, SMSF Professionals Day, tax rate, 30 per cent

An SMSF educator has noted errors made by an assistant minister about the Division 296 tax highlight its impact will be greater than first proposed.

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SMSF, Superannuation, Tax

Alternative Div 296 model possible

SMSF, self managed super, Division 296, calculation, unrealised capital gains, calculation, earnings, SMSF Alliance, David Busoli, total super balance, TSB, $3 million threshold, actual income

An alternative Division 296 calculation can used which does tax unrealised capital gains with an SMSF specialist noting it could be built around a model already in the bill.

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Investments, SMSF

Foreign stocks have increased SMSF appeal

SMSF, self managed super, trustees, investments, offshore, international equities, CMC Markets, Andrew Shade, diversification, direct shares, exchange-traded funds, ETF

SMSF trustees are looking to increase their investments in offshore markets to enjoy portfolio benefits from several different perspectives.

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SMSF, Superannuation, Tax

LRBAs off Division 296 table

SMSF, self managed super, Division 296, LRBA, limited recourse borrowing arrangement, Senate, Treasurer, Jim Chalmers, Greens, defined benefit schemes

The Treasurer has ruled out using LRBAs as a bargaining chip in seeking support in the Senate to pass the proposed Division 296 tax bill.

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SMSF, SMSFA

New tax has not quelled growth

SMSF, self managed super, Division 296, SMSF Association, ATO statistics, SMSF quarterly statistical report, new funds, growth

The latest ATO data indicates the growth of the SMSF sector has not been diminished by the proposed Division 296 tax.

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SMSF, Superannuation, Tax

Don’t break laws avoiding super impost

SMSF, self managed super, Division 296, superannuation, withdrawal, McCullough Robertson, Hayley Mitchell, $3 million, condition of release, superannuation balance, asset valuations, legislation

SMSF members reducing their retirement savings balance below $3 million to avoid the Division 296 tax must remain within the super laws and avoid rash moves that breach them.

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SMSF, Tax

Govt again urged to revise Div 296 tax

Division 296 tax, Division 296, SMSF, self-managed super, self-managed superannuation, SMSF Association, calculation, unrealised capital gains, SMSF trustees, Peter Burgess

The government has again been implored to rethink its Division 296 tax policy amid reports it has caused panic selling of assets among SMSFs.

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