News : SMSFA

Legislation, SMSFA, Superannuation, Tax

$3m soft cap issues ignored

$3m soft cap tax Superannuation earnings tax Division 296 tax SMSF Association

The proposed bill to implement the $3 million soft cap tax has been sent to the Senate without considering its impacts in several critical areas.

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financial advice, Legislation, SMSFA

SMSFA seeking clarity over adviser class

SMSFA Qualified advisers Quality of Advice Review Accountants

An industry body has called for further details regarding the implementation of the final recommendations of the Quality of Advice Review.

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Appointments, SMSFA

SMSF Association board appoints new member

SMSF Association board of directors appointment

Christine Franks is the newest member of the SMSF Association board of directors after her appointment as a governance expert.

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SMSF, SMSFA, Tax

Div 296 tax impact on farms refuted

SMSF Association ASFA farms $3 million superannuation earnings tax

The SMSF Association has rejected claims few farms in SMSFs will be affected by the proposed superannuation earnings tax as the assertion is based on incorrect ATO data.

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Administration, ATO, SMSF, SMSFA

Rollover delinking process extended

ATO SuperStream SMSF rollover wind up Client-to-agent linking service

The ATO has revised its protocols regarding the agent-to-client linking service for SMSFs, adding an extended window for practitioners and trustees to delink in the event of a rollover.

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Crypto Assets, Cryptocurrency, Regulation, SMSFA

Crypto assets must be regulated

Cryptocurrency Digital assets Regulation

The SMSF Association has flagged gaps in ownership information, risk of fraud and inappropriate advice as key reasons the crypto-asset space should be more tightly regulated.

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SMSFA, Superannuation, Tax

Senators should reject super tax bill

Superannuation earnings tax $3m soft cap tax Unrealised capital gains senate crossbench

The SMSF Association is calling on crossbench senators to reject the government’s $3 million super earnings tax bill, which was introduced into parliament today.

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Administration, ATO, Compliance, SMSF, SMSFA

ATO changes agent linking system

ATO online services Client-to-agent linking

The ATO has added an extra security step to its reporting platform for businesses, requiring SMSF trustees to follow it when appointing or changing agents to act on their behalf.

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Legislation, SMSFA, Tax

Simpler tax model presented to govt

SMSF Association Superannuation earnings tax Unrealised gains Treasury $3m soft cap tax

The SMSFA has urged Treasury and the government to re-evaluate the taxation of unrealised capital gains within the $3 million soft cap tax.

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SMSFA, Superannuation, Tax

Consultation for new tax too short

SMSF Association $3 million earnings tax draft bill consultation period

The SMSF Association has expressed its angst over the inadequate consultation period, as well as lack of important details, regarding the draft bill legislating the $3 million soft cap.

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