News : SMSFA

financial advice, SMSFA

Adviser references need specificity

Licensed advisers SMSF Association Unlicensed operators Advisers

A call has been made for financial services stakeholders to properly acknowledge the difference between licensed advisers and illegal operators.

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Legislation, LRBA, SMSFA, Tax

SMSFA staunchly defends LRBAs

SMSF LRBA Division 296 tax SMSF Association Greens

The ability for SMSFs to use limited recourse borrowing arrangements has been defended amid renewed calls from some politicians to ban them.

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AFCA, Regulation, SMSFA

Govt should pay all Dixon claims

SMSF Association Dixon Advisory Compensation Scheme of Last Resort Peter Burgess

The government should recommit to funding all compensation claims related to Dixon Advisory to remove the unfair financial burden they will place on advisers.

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Pensions, SMSF, SMSFA

Legacy pension amnesty missing

Legacy pensions SMSF Association Amnesty

The absence of an announcement declaring the government’s commitment to a legacy pension amnesty has disappointed the sector’s peak body.

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SMSF, SMSFA, Superannuation, Tax

Stance on Div 296 tax disappointing

SMSF Association SMSFA Peter Burgess Senate Economics Legislation Committee Division 296 Better Targeted superannuation Concessions

The SMSF Association has labelled a Senate committee’s support for the proposed Division 296 tax as it stands disappointing.

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Legislation, SMSF, SMSFA, Tax

Div 296 will hit more than 3500 farms

Division 296 tax Farms SMSF Primary production land Indexation

The SMSF Association has presented data to a Senate committee suggesting over 3500 farms will be impacted when the $3 million soft cap is introduced.

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Pensions, SMSFA, Tax

Legacy pension amnesty sought

Division 296 tax Amnesty SMSF Association Family law split Legacy pension Lifetime pension

The government has been asked to provide an amnesty for legacy pensions from the proposed Division 296 tax in this year’s federal budget.

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Legislation, SMSFA, Tax

Div 296 hearing disappointing

SMSF Association Division 296 tax Senate

The SMSF Association has labelled its time at a Senate inquiry into the proposed Division 296 tax as disappointing with limited time to address problems with the draft legislation.

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Investments, SMSF, SMSFA

Little benefit in performance test

Performance test SMSF SMSF Association Investment strategy

Extending a performance test applied to APRA-regulated funds to the SMSF sector would add red tape and increase costs without any benefit.

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Legislation, SMSFA, Tax

Unrealised gains tax a dangerous precedent

SMSF Association Unrealised capital gains Division 296 tax

Taxing unrealised capital gains as part of the Division 296 impost could set a risky precedent, potentially causing significant ripple effects throughout Australia’s tax system.

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