News : Superannuation

ATO, Auditing, Compliance, Superannuation

Accurate notices of intent vital

Notices of intent

Notices of intent in relation to personal contributions will not be covered by the audit process this year putting greater onus on SMSF members to ensure they are accurate.

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Retirement, Superannuation, Tax

CGT concessions a super bonus

small business CGT concessions

The small business CGT concessions can be of great benefit for individuals who have not accumulated much super while running their own enterprises.

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Pensions, Regulation, Retirement, Superannuation

Age issue curbs bring-forward rule

NCC bring-forward rules

The non-concessional contribution bring-forward rules can only be used if a person is under 75 during the relevant financial year.

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financial advice, SMSF, Superannuation

SMSF advice a possibility from APRA fund

SMSF advice

Calls to allow APRA-regulated funds to provide advice may mean they also have to consider a member’s SMSF benefits in the circumstances of that advice.

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Business News, fraud, Superannuation

Govt to set up scam prevention hub

Scam prevention

The government will set up a scam prevention centre to detect scams, share data and inform the public about new scams and fraudulent schemes.

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ATO, Superannuation

ATO sets date for personal TBC availability

TBC

Super fund members will gain access to personal TBC details early in the new financial year but should report outstanding information now.

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Superannuation, Tax

Super earnings tax is double taxation

Super earnings double taxation

The earnings tax on superannuation balances above $3 million is a wealth tax and will subject fund members to a form of double taxation.

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SMSF, Superannuation, Tax

Super changes benefit unions, ALP

Superannuation changes unions

Proposed changes to super will benefit union-owned industry funds, which support the government introducing these measures, an SMSF industry veteran has claimed.

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NALI/NALE, Superannuation, Tax

Govt has ignored industry concerns

NALE super tax

The federal government has ignored the superannuation sector in regards to the proposed $3 million super tax and NALE based on its budget announcements.

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Pensions, Regulation, Superannuation

Minimum pension normalcy back

Minimum pensions

Last night’s budget gave the industry a very good indication that minimum pensions will be returning to pre-COVID rates from 1 July 2023.

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