News : Superannuation

Strategy, Superannuation

New rules have impact on SMSF contributions

The average contribution to SMSFs more than doubled in the June quarter after trustees took advantage of new legislation that increased contribution deductibility from July 2017.

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Retirement, Strategy, Superannuation

TRIS now a short-term strategic tool

A transition-to-retirement income stream (TRIS) should be viewed purely as a short-term strategy to enable SMSF members to withdraw money from the accumulation account of the fund, a sector strategist has said.

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Retirement, Superannuation

Australians feel big retirement savings needed

The latest industry research into attitudes on retirement, conducted by Rice Warner and commissioned by ING Australia, has revealed individuals from generations X, Y and Z believe they will need between $1.5 million and $1.75 million in savings to fund their retirement, but do not know how to go about achieving it.

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Superannuation

Diversified super funds weathered GFC

Superannuation members whose assets were diversified across a range of categories had experienced markedly stronger returns in the 10 years since the global financial crisis (GFC) compared to those in a cash option, according to the Association of Superannuation Funds of Australia (ASFA).

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ATO, Superannuation

TSB, TBC details visible in myGov: ATO

The ATO has used a superannuation regulatory update speech to remind individuals who log into the myGov portal can now view details of all their super accounts and balances.

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Auditing, Superannuation

Real cost-saving measures put to Treasury

superannuation; age pension; retirement

A specialist SMSF firm has proposed alternative measures to the federal government’s three-yearly audit proposal to achieve cost savings for the sector.

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Retirement, Strategy, Superannuation

Transfer balance cap catches

If there’s something all laws have in them, it’s unintended consequences. The introduction of the transfer balance cap (TBC) is no exception. It’s got them, just like fleas on a dog’s back.

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Regulation, Superannuation

Implementing PC SMSF findings not a sure thing

The federal government has no immediate plans to apply changes to restrict members with less than $1 million from establishing an SMSF in the wake of the Productivity Commission’s draft report on superannuation.

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Superannuation

Best service providers for 2018 recognised

Research house CoreData and selfmanagedsuper have hosted the sixth annual SMSF Service Provider Awards, with the majority of winners again consolidating their standing among the financial advice community.

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ATO, Superannuation

Proposed regulation to extend SuperStream to all SMSFs

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On 17 July, Treasury released exposure draft legislation that broadly extends the operation of SuperStream to cover SMSFs. Currently, SMSFs only need to be able to receive contributions and rollovers through SuperStream.

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