News : SMSF

New tax threshold needs review

April 17, 2023

The consultation process regarding the proposed $3 million soft cap on the superannuation balances of individuals is overlooking a key element.

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ASIC, Auditing, SMSF

More SMSF auditors sanctioned

April 13, 2023

Darin Tyson-Chan

ASIC has taken enforcement action against 11 registered SMSF auditors, including the disqualification of seven practitioners.

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ATO, SMSF

ATO issues two SMSF reminders

April 13, 2023

Darin Tyson-Chan

SMSF trustees have been reminded to check if they have any unclaimed super and if the ATO has their most recent fund bank account details.

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Business News, SMSF, Technology

US fintech firm to enter SMSF admin space

April 12, 2023

Darin Tyson-Chan

A US-based fintech company is looking to enter the SMSF market through the acquisition of a firm with an established fund administration service.

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Auditing, Education, SMSF

Auditors failing key requirements

April 11, 2023

Darin Tyson-Chan

Many SMSF auditors are being issued with ATO education directions for failing one of the most fundamental tasks required of them.

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SMSF, Superannuation, Tax

Clarifying the $3 million soft cap

April 11, 2023

Nicholas Ali

The proposed $3 million soft cap has caused significant angst in SMSF circles, but understanding the facts of the measure to date is important.

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SMSF, Superannuation

TSB used to level playing field

April 4, 2023

Jason Spits

Treasury has admitted the use of the TSB to levy a proposed earnings tax was chosen to prevent people moving funds to sidestep the tax.

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SMSF

New SMSFs favour fewer members

March 20, 2023

Darin Tyson-Chan

Current statistics have revealed funds servicing fewer members have the most appeal for individuals looking to establish an SMSF.

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SMSF, Tax

Soft cap has member death impact

March 16, 2023

Darin Tyson-Chan

The proposed 30 per cent tax on super balances above $3 million would continue to have an effect even after an SMSF member passes away.

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SMSF, Tax

SMSFs to feel tax cap the most

March 1, 2023

Darin Tyson-Chan

While the new $3 million threshold will be applied to super funds across the board, it has been acknowledged it will have the greatest impact on SMSFs.

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