News : Superannuation

ATO, Regulation, SMSF, Superannuation

Payday super tweak needed for SMSFs

Institute of Financial Professionals Australia, IFP, Natasha Panagis, ATO, payday superannuation payments, Treasury,

Consideration will need to be given to the status of SMSFs under any payday super regime to ensure employer contributions can go to a fund that is temporarily unable to receive them.

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ATO, NALI/NALE, Regulation, SMSF, Superannuation

No ATO guidance to define breaches

ATO guidance, breach, illegal early access, superannuation, SMSF, self managed super, loans to members, ATO, Emma Rosenzweig

The ATO has stipulated illegal early access of super benefits and SMSF loans to members do not warrant guidance as both are compliance breaches.

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Accounting, Regulation, SMSF, Superannuation

Opposition advice commitment welcomed

Compensation Scheme of Last Resort, CSLR, Financial Advice Association Australia, FAAA, Chartered Accountants Australia and New Zealand, CAANZ, Sara Abood, advice levy, Susan Franks, financial advisers, access to financial advice

Opposition plans to reduce the cost of the Compensation Scheme of Last Resort and rebuild the advice sector have been welcomed by advice bodies.

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Contributions, Strategy, Superannuation

TBC rise could unlock NCC bring forward use

transfer balance cap, TBC, SuperGuardian, Tim Miller, Education, SMSF,

A NCC bring forward strategy bogged down by total super balance limits may be unlocked when the general transfer balance cap is indexed on 1 July.

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Retirement, SMSF, Superannuation

Benefit types important for TRIS

TRIS, unrestricted non-preserved benefits, Institute of Financial Professionals Australia, IFPA, Natasha Panagis, IFPA 2025 Conference and Expo,

The make-up of an SMSF member’s benefits should be taken into account before starting a TRIS to achieve the optimal outcome from the action.

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ATO, SMSF, Superannuation

Excess release less work than SG opt-out

Releasing excess concessional contributions is easier than trying to opt out of super guarantee payments that created the surplus in the first place.

Releasing excess concessional contributions is easier than trying to opt out of super guarantee payments that created the surplus in the first place.

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Compliance, Regulation, SMSF, Superannuation

Court orders wind-up of rollover scheme

A managed investment scheme linked to superannuation rollover advice will be wound-up after the Federal Court ordered its closure.

A managed investment scheme linked to superannuation rollover advice will be wound up after the Federal Court ordered its closure.

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financial advice, Legislation, SMSF, Superannuation

CSLR should be future govt priority

The FAAA has called for the next federal government to urgently fix the CSLR and move quickly to advance reforms that will reduce advice costs and open pathways to new advisers.

The FAAA has called for the next federal government to urgently fix the CSLR and move quickly to advance reforms that will reduce advice costs and open pathways to new advisers.

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Contributions, Superannuation, Tax

Tax impact of withdrawals nuanced

Sound knowledge of the rules regarding super fund drawdowns is a must to determine the level of tax deduction available for a personal contribution.

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Auditing, Regulation, SMSF, Superannuation

New stakeholder in ASF Audits

ASF Audits, Fortitude, Nick Miller, Chris Atkins, Casey McGrath, Fortitude Investment Partners, Adelaide,

A private equity firm has taken a large stake in ASF Audits as one of its longest serving staffers announces his departure.

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