News : Superannuation

Superannuation

SMSFs would have advantage under ‘open super’

SMSFs stand to benefit from the open banking regime’s likely evolution into open super as the sector’s current systems and ongoing integrations for member data are already at a good level.

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ATO, Retirement, Superannuation

Timing of pension payments has ECPI implications

Advisers and their clients should be aware that the timing of pensions payments made throughout the year can have an effect on the level of exempt current pension income (ECPI) an SMSF can claim in a particular year, a superannuation technical expert has said.

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ATO, Retirement, Superannuation

PC made SMSF findings despite flawed data

Jordan George

The Productivity Commission went ahead and made significant findings regarding SMSF returns and costs despite acknowledging problems with its “fundamentally flawed” data, an industry body has argued.

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Regulation, Superannuation

SMSF analysis restates PC report’s figures

Class has reaffirmed the performance of SMSFs compared to Australian Prudential Regulation Authority (APRA)-regulated funds, following discrepancies in the Productivity Commission’s inquiry into superannuation.

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Estate Planning, Superannuation

Estate planning in the new environment

The introduction of the transfer balance cap (TBC) on 1 July 2017 has had a severe impact on estate plans that include superannuation savings.

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Superannuation

Statistics show SMSFs not just for the rich

The latest data reflecting the current position of the SMSF market has indicated these types of retirement saving structure are not purely the domain of extremely wealthy individuals as is often thought, the SMSF Association has said.

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Financial Planning, Strategy, Superannuation

Deductible contributions top adviser query

During the June quarter, deductible personal super contributions have been the top query coming from financial advisers, following super reforms allowing more Australians to use this strategy and top up their retirement savings, according to BT Financial Advice’s (BTFA) technical team.

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Compliance, Regulation, Superannuation

SuperStream announcement a mixed bag

A superannuation industry technical expert has described the federal government’s proposal to include SMSFs within the SuperStream rollover system as a positive development, but has identified some of the other elements included in the initiative as potentially being problematic.

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Compliance, Superannuation

SMSF SuperStream draft laws get strong backing

The SMSF Association has welcomed the draft regulations that extend the use of SuperStream to rollovers to and from SMSFs.

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Regulation, Superannuation

Treasury releases updated SG draft

Treasury today released an exposure draft of the updated Superannuation Guarantee (Administration) Regulations 2018 as the 1993 iteration is scheduled to sunset on 1 October 2018.

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