News : Superannuation

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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Regulation, Superannuation

Treasury releases SMSF SuperStream draft laws

Treasury today released its exposure draft to amend the Superannuation Industry (Supervision) Regulations 1994 (SISR) to extend the operation of SuperStream to capture SMSFs, with the consultation period now open.

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Compliance, Superannuation

No simplification for personal super contributions

Industry expectations that Treasury would simplify the process by which individuals claim a tax deduction for personal superannuation contributions have not come to fruition.

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Estate Planning, Financial Planning, Superannuation

Super reforms effect begins to show

The latest research into the SMSF sector has shown the super reforms handed down in the 2016 federal budget are beginning to have a significant impact on trustees’ financial advice priorities.

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Estate Planning, Superannuation

Downsizer, aged-care strategy go hand-in-hand

SMSF advisers advising clients on downsizer contributions for estate planning purposes should consider the client’s full circumstances and the interaction with aged care, according to Aged Care Steps.

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Retirement, Superannuation

Super catch-up measure starts

The federal government’s catch-up carry-forward super measure began this week, giving those with broken work patterns, particularly women, a better chance to save for retirement.

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Compliance, Superannuation

SMSFs get inactive low-balance account concession

The bill enacting the 2018 federal budget proposal to have all inactive low-balance (under $6000) superannuation accounts transferred to the ATO has taken into account the concerns of SMSFs running deliberate multiple-fund strategies.

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Retirement, Superannuation

Fund manager starts anti-franking ban campaign

Plato Investment Management has started an online petition to help protect the dividend imputation system and ensure positive financial outcomes for retirees in light of the federal opposition’s policy proposal to scrap excess franking credit refunds.

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