News : Superannuation

Regulation, Superannuation

Work-test repeal would help gender imbalance

Superannuation work test

Removing the superannuation work test and introducing a spousal rollover measure would counteract the disparity in super balances between men and women, the SMSFA has said.

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Regulation, Superannuation

Number of TSB thresholds should be cut

total superannuation balance thresholds

The number of total superannuation balance thresholds in use is confusing for trustees and advisers and should be reduced to two simple benchmarks, according to the SMSF Association.

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ATO, Superannuation

ATO clarifies SG clearing house cut-off

Superannuation clearing house

A recent ATO guideline will benefit employers using the regulator’s Small Business Superannuation Clearing House to pay super contributions.

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Compliance, Superannuation

TBC indexation determined in late January

Transfer balance cap indexation

Superannuants will know in late January whether indexation will be applied to the transfer balance cap from 1 July 2020.

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Documentation, Superannuation

Ordinary company not for corporate trustees

ordinary companies corporate trustees

Corporate trustees should only be using special purpose company structures and failing to do so may be considered a breach of superannuation regulations.

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ATO, Superannuation

SMSFs recover after wind-up spike

SMSF sector growth September

Growth in the SMSF sector remained strong in the September quarter, despite a dip in the net number of funds established in the previous quarter.

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Regulation, Superannuation

AML rules may exacerbate SFLU problems

AML SFLU SMSFs

SMSFs removed from the Super Fund Lookup (SFLU) may be caught under anti-money laundering (AML) laws impacting the flow of money in and out of the fund.

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Administration, Superannuation

With contributions, timing is everything

Contributions timing

The timing treatment of contributions when using a clearing house facility differs depending on which service is involved, writes Meg Heffron.

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ATO, Superannuation

SMSF collectables under scrutiny

ATO SMSFs collectables

The ATO will use its data matching powers to check if SMSFs are using high value assets for personal use in breach of the law.

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Superannuation

Super to hit $4.8 trillion in 2034

Superannuation industry assets

The assets held within the superannuation sector will reach $4.8 trillion by 2034, an actuarial consulting firm has forecast.

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