News : Superannuation

Retirement, Superannuation

Super valued, but early access a concern

The role of superannuation is highly valued by consumers, but many see early access as undermining its purposes and outcomes.

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ASIC, financial advice, SMSFA, Superannuation

SMSFA backs ASIC super warning

The SMSF Association has supported ASIC’s warning for people to be on high alert for cold callers encouraging them to switch their super.

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Division 296, Superannuation, Tax

Div 296 can boost advice proposition

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Division 296, tax minimisation, personal tax, Accurium, Mark Ellem, marginal tax rate, total super balance, 30 per cent, 15 per cent, financial advice

The proposed Division 296 measure gives practitioners the opportunity to enhance their advice proposition through tax optimisation strategies.

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Contributions, Death benefits, Superannuation, Tax

Benefits tax a factor in recontributions

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, recontribution strategy, taxable component, MLC, Scott Quinn, adult child, non-tax dependant, death benefit, government co-contribution, spouse contribution

Giving thought to the tax impact of death benefits paid to adult children may be a trigger to engage in a recontribution strategy.

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Investments, Superannuation

ASFA endorses change to US bill

Association of Superannuation Funds of Australia, ASFA, Big Beautiful Bill, section 899, Mary Delahunty, US economy

ASFA has applauded an amendment made to the US government’s ‘big beautiful bill’ that will result in a better outcome for superannuants.

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Documentation, Superannuation

Refund of early withdrawal possible

self managed super, self managed superannuation, SMSF, withdrawal, condition of release, Accurium, Mark Ellem, refund, SMSF Professionals Day 2025, rectification, error

An accidental withdrawal from an SMSF bank account can be redeposited without consequence as long evidence can prove the transaction was an error.

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Death benefits, Division 296, Superannuation, Tax

Div 296 sparking death benefit discussions

self managed super, self managed superannuation, SMSF, death benefit tax, Division 296, Heffron, Meg Heffron, assets outside superannuation, tax

The Division 296 impost has prompted SMSF members looking at retaining assets in super to consider the tax impact of their death on their beneficiaries.

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Contributions, Superannuation, Tax

Deduction claims based on fund receipt

self managed super, self managed superannuation, SMSF, superannuation, contribution, tax deductible, Institute of Financial Professional Australia, Natasha Panagis, ATO, private binding ruling, personal deductible contribution, notice of intent

Tax deductions for a super contribution are based on when a fund receives the money, with the ATO confirming late arrivals will not be considered.

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Contributions, Superannuation

Recontribution barred due to glitch

self managed super, self managed superannuation, SMSF, superannuation, recontribution strategy, new financial year, MLC, Scott Quinn, non-concessional contribution, bring-forward, Janet Manzanero-Caruana

A handful of people looking to use a recontribution strategy in the new financial year will be unable to do so under a birth date-related anomaly.

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