News : Superannuation

Recent rulings give NALE glimpse

September 18, 2023

Two private binding rulings issued by the ATO in the past six months have hinted at how the NALE rules for general expenses will be applied.

Excess contribution refund needs approval

Excess concessional contributions refund

September 18, 2023

Todd Wills

SMSF trustees who exceed their concessional contribution cap limit should wait for the ATO to issue a release authority before seeking a release of the excess funds.

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Legislation, Retirement, Superannuation

Bills highlight unfair super treatment

superannuation retirement income objective legislation

September 14, 2023

Jason Spits

Superannuation is unfairly treated in the wider retirement income landscape, with recent draft bills highlighting governments regard it as an easy target.

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Regulation, SMSFA, Superannuation

Objective needs clarification

September 14, 2023

Todd Wills

The proposed objective of superannuation requires a more precise definition due to the presence of vague terms in the statement.

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Pensions, SMSF, Superannuation

SMSFs lead pension transition

September 13, 2023

Jason Spits

Far more SMSF members over 65 are in pension phase compared to APRA-regulated fund members, highlighting the different levels of engagement in the two sectors.

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SMSF, Strategy, Superannuation, Tax

Earnings tax creating capital gains confusion

September 13, 2023

Jason Spits

The inclusion of unrealised gains within the proposed $3 million earnings tax is confusing superannuation fund members.

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Superannuation

Objective’s force is in its terms

September 12, 2023

Jason Spits

The proposed objective of superannuation has no enforceable provisions, but its key terms could still be used by governments to push for changes in the system.