News : Superannuation

AFCA, Financial Advice, Superannuation

AFCA complaints hit new record

Australian Financial Complaints Authority actions hit 100,000 for the third year in a row on the back of cost-of-living challenges.

Australian Financial Complaints Authority actions hit 100,000 for the third year in a row on the back of cost-of-living challenges.

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Division 296, Strategy, Superannuation, Tax

Div 296 strategy not just about tax

Multiple factors apart from tax need to be considered when formulating a client strategy regarding the management of a Division 296 tax liability.

Multiple factors apart from tax need to be considered when formulating a client strategy regarding the management of a Division 296 tax liability.

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Retirement, Superannuation

Benefit access due to retirement limited

Access to super benefits can be limited in situations where the definition of retirement is being used to satisfy a condition of release.

Access to super benefits can be limited in situations where the definition of retirement is being used to satisfy a condition of release.

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Division 296, Superannuation, Tax

Div 296 has marriage breakdown impact

Arrangements to facilitate family law splits upon relationship breakdowns may need reworking in light of the introduction of the Division 296 tax.

Arrangements to facilitate family law splits upon relationship breakdowns may need reworking in light of the introduction of the Division 296 tax.

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Contributions, Superannuation

Contribution splitting now more valuable

The new Division 296 tax has highlighted the benefits of contribution splitting and account equalisation strategies.

The new Division 296 tax has highlighted the benefits of contribution splitting and account equalisation strategies.

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Platforms, Superannuation

SMC refutes switching justification

The Super Members Council has cautioned people to be wary of shifting their super onto a platform, given their overall poorer outcomes for members.

The Super Members Council has cautioned people to be wary of shifting their super onto a platform, given their overall poorer outcomes for members.

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ATO, Superannuation

ATO affirms medical early release rules

The ATO has outlined the extent of its discretion to allow access to super to pay for medical expenses, noting the law is limited in its application.

The ATO has outlined the extent of its discretion to allow access to super to pay for medical expenses, noting the law is limited in its application.

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Condition of release, Retirement, Superannuation

Role change is not retirement

The changing of employment role at the same place of work is unlikely to satisfy the definition of retirement for superannuation purposes.

The changing of employment role at the same place of work is unlikely to satisfy the definition of retirement for superannuation purposes.

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Pensions, Superannuation

Commutations must be in real time

The termination of a pension due to a minimum payment shortfall can only be performed after the compliance breach has been discovered.

The termination of a pension due to a minimum payment shortfall can only be performed after the compliance breach has been discovered.

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SMSF, Superannuation

SMSFs outpaced in future growth

The SMSF sector will be relatively smaller in 20 years, but will ride the wave of an overall expanding superannuation system.

The SMSF sector will be relatively smaller in 20 years, but will ride the wave of an overall expanding superannuation system.

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