News : Superannuation

Superannuation

Evidence crucial in early super requests

superannuation release evidence ATO

Superannuants need to furnish sufficient evidence to the ATO before successfully applying to have their funds released before retirement.

read more
Legislation, SMSFA, Superannuation, Tax

$3m soft cap issues ignored

$3m soft cap tax Superannuation earnings tax Division 296 tax SMSF Association

The proposed bill to implement the $3 million soft cap tax has been sent to the Senate without considering its impacts in several critical areas.

read more
Pensions, Superannuation

Revisit reserves before new tax starts

SMSF reserves legacy pensions superannuation earnings tax

Reserve and legacy pension allocations inside SMSFs should be revisited before the new earnings tax applies as they may be counted as earnings and not contributions.

read more
Legislation, Superannuation

Industry super objective view clear

Objective of superannuation Treasury Consultation

Consultation on the proposed objective of superannuation showed significant support for what the measure should ultimately achieve.

read more
ATO, Superannuation

ATO mulls access approval

ATO Illegal early access Superannuation Condition of release

In an effort to curb cases of illegal early access, the ATO may introduce an additional compliance requirement before funds can be released from an SMSF.

read more
Legislation, NALI/NALE, Superannuation, Tax

Last chance to alter $3m soft cap bill

Division 296 tax NALE Superannuation earnings tax Senate

A review by a Senate committee will give the SMSF sector a final chance to put forward its case that the proposed superannuation earnings tax is poor policy and should be refined.

read more
Retirement, Superannuation

Govt to examine SMSF retirement income role

Superannuation Retirement

The government will examine how superannuation is being used in retirement and has asked how SMSFs are managing risks and maximising income for members.

read more
SMSFA, Superannuation, Tax

Senators should reject super tax bill

Superannuation earnings tax $3m soft cap tax Unrealised capital gains senate crossbench

The SMSF Association is calling on crossbench senators to reject the government’s $3 million super earnings tax bill, which was introduced into parliament today.

read more
Retirement, Superannuation

Majority unaware of retirement options

Retirement income products 2023 Retirement Income Report

Most Australians lack an understanding of the pension products offered by their superannuation funds to boost their incomes in retirement.

read more
Retirement, Superannuation

Living costs continue to strain retirees

Retirement Retirees ASFA Cost of living

Retirees are experiencing growing challenges in sustaining a comfortable lifestyle due to the rising costs of basic necessities.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.