News : Superannuation

Division 296, SMSF, Superannuation, Tax

Div 296 progress unconscionable

Government plans to push on with introducing the Division 296 impost completely disregard the input of key stakeholders and override the rules of equity in tax law.

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Accounting, Division 296, SMSF, Superannuation, Tax

Poll finds mixed support for Div 296

A poll has found around half of Australians are in favour of the Division 296 tax, with many giving it strong support.

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Retirement, Superannuation

SG increase boosts retirement outlook

The increase in the superannuation guarantee has reached a level that will result in younger workers exceeding the comfortable retirement standard.

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ASIC, financial advice, Superannuation

Rollover-linked firm has licence cancelled

ASIC has cancelled the licence of a firm that provided advice regarding the Shield Master Fund and also banned its responsible manager.

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ATO, Regulation, Superannuation, Trusts

High Court can hear Bendel appeal

The High Court has granted leave for the ATO to appeal the Bendel case decision related to the treatment of unpaid present entitlements.

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Division 296, SMSF, Superannuation, Tax

Personal injury a Div 296 escape

Any individual who makes a superannuation contribution stemming from a personal injury insurance payment will not be captured by the Division 296 tax.

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Division 296, SMSF, Superannuation, Tax

Minister meeting confirms no tax changes

The SMSF Association has labelled Division 296 consultations that took place in 2023 as an endorsement process after meeting recently with the new Financial Services Minister.

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Division 296, LRBA, SMSF, Superannuation, Tax

LRBA carve-out inconsistent

Plans to carve out LRBAs from the total super balance figures used to calculate Division 296 tax highlight the irregularities around their inclusion within TSBs.

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Division 296, SMSF, Superannuation, Tax

Half a million may be hurt by new impost

New analysis by the Financial Services Council has calculated the full impact of the proposed superannuation tax under four different scenarios.

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Superannuation

AMP tweaks super to boost pension

AMP has made a change to the operation of its retail super products that may boost age pension payments when its fund members retire.

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