News : Superannuation

ATO, Superannuation

ATO counters false super rule changes

False claims currently being circulated regarding changes to the superannuation drawdown rules have been rebutted by the ATO.

False claims currently being circulated regarding changes to the superannuation drawdown rules have been rebutted by the ATO.

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Appointments, Superannuation

SMSF Association welcomes new minister

SMSF Association, SMSFA, Dr Mulino, Anne Aly, Andrew Leigh, Financial Advice Association Australia, CPA Australia and the Financial Services Council, Jim Chalmers, Chartered Accountants ANZ, CAANZ, Ainslie van Onselen, SMSF Association, SMSFA,

The SMSF Association has welcomed the new Financial Services Minister highlighting the significance of size and status of the sector in the industry.

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SMSF, Superannuation

CMC safe-harbour needs proactivity

Trustees must be cautious about who will run their fund while they are overseas for an extended period and should act on this before departing.

Trustees must be cautious about who will run their fund while they are overseas for an extended period and should act on this before departing.

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Contributions, Regulation, Superannuation

Industry calls for payday super delay

Payday Super, Treasury, submission

A consortium of financial services industry groups have asked Treasury to extend the start date of payday super by two years.

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Legislation, SMSF, Superannuation

Fixing CSLR priority number one

CSLR, Financial Advice Association Australia, FAAA, Compensation Scheme of Last Resort, Sarah Abood, sector cap, Dixon Advisory, United Global Capital, CSLR levy, financial advisers, Shield Master Fund, First Guardian

Amending the CSLR has been identified as the most important financial advice-related issue the Labor government must address when parliament restarts.

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Superannuation, Tax

Div 296 start not tied to sitting days

The ability of the government to pass the Division 296 tax bill through parliament may have little effect on the date it actually starts, which may be as soon as the new financial year.

The ability of the government to pass the Division 296 tax bill through parliament may have little effect on the date it actually starts, which may be as soon as the new financial year.

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Superannuation

Scam call warning over benefit balances

An accounting body has alerted practitioners and consumers to avoid engaging with unsolicited callers who are using market volatility to offer reviews of superannuation fees and investments.

An accounting body has alerted practitioners and consumers to avoid engaging with unsolicited callers who are using market volatility to offer reviews of superannuation fees and investments.

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financial advice, Financial Planning, Superannuation, Tax

Calls for reform greet govt return

Industry groups have responded to the re-election of the Albanese government by calling for advice and tax reforms to be introduced during its second term in power. 

Industry groups have responded to the re-election of the Albanese government by calling for advice and tax reforms to be introduced during its second term in power. 

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financial advice, Financial Planning, Superannuation

Collective advice model inequitable

Collective advice, superannuation funds, fee-for-no-service, Institute of Financial Professionals Australia, IFPA, Delivering Better Financial Outcomes, APRA funds, intra-fund advice, fee-for-service

Collectively charging super fund members for advice was unfair to those who did not use it and opened the door for a return of fee-for-no-service arrangements.

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Death benefits, Superannuation

Benefits payable to grandchildren

Cooper Grace Ward, Scott Hay-Bartlem, superannuation death benefit, Grandchildren, Will, SMSF, financial dependant, interdependency relationship

The nature of the relationship between a grandparent and their grandchildren will be the key driver determining if superannuation benefits can be paid to the latter.

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