News : Superannuation

Administration, Auditing, Practice Management, SMSF, Superannuation, Technology

AI already improving audit process

Artificial intelligence tools are already noticeably improving the SMSF audit process for practitioners and clients alike.

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Administration, Division 296, Documentation, Investments, SMSF, Strategy, Superannuation, Tax, Valuations

Div 296 to change compliance landscape

Compliance procedures applicable to SMSFs will be significantly impacted by the introduction of the proposed Division 296 tax.

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Division 296, Investments, Superannuation, Tax

Div 296 drives investment bond resurgence

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, investment bonds, retirement income, Division 296 tax, estate planning, Generation Life, Vincent Stranges, death benefit taxes

The prospect of the Division 296 tax becoming a reality has spurred interest in investment bonds as superannuants seek other tax friendly options.

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Investments, Superannuation, Tax

Super should fund tech developments

superannuation, Super Members Council, Economic Reform Roundtable, research and development, venture capital, Misha Schubert, private equity, start-ups

Australia’s pool of superannuation savings should be used to invest in new scientific and technology developments to boost returns and innovation.

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Compliance, Regulation, SMSF, Superannuation

Super gatekeeping needs reform

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, superannuation, platforms, ASIC, Joe Longo, Shield Master Fund, First Guardian Master Fund, regulations

The corporate regulator is worried bad actors, sometimes using SMSF structures, could undermine trust in Australia’s superannuation system.

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LRBA, SMSF, Strategy, Superannuation

Maintain LRBA single-asset treatment

Shares purchased under an LRBA should be treated as single asset regardless of what happens to them while they are held by an SMSF investor.

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Compliance, Pensions, Regulation, SMSF, Superannuation

Failed pensions need minimums paid

Pensions linked to the breach of the payment standards cannot be commuted and restarted before this contravention has been rectified.

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ASIC, financial advice, Financial Planning, Investments, Regulation, SMSF, Superannuation

More Shield-linked advisers banned

Two more advisers linked to the Shield Master Fund have been issued with bans from ASIC.

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financial advice, Financial Planning, SMSF, Superannuation

IFPA appoints new chief executive

Ky Wilson has been announced as Institute of Financial Professionals Australia chief executive after several years of service with the organisation.

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Compliance, Contributions, SMSF, Strategy, Superannuation, Tax

Deductible recontributions scrutinised

Deductions claimed on withdrawals from super that are quickly recontributed will attract scrutiny from the ATO in regards to tax avoidance.

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