News : Superannuation

Estate Planning, Superannuation

Estate planning not formulaic

SMSF estate planning

SMSF practitioners need to be prepared for all situations that could possibly trigger the implementation of estate planning or fund succession strategies.

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Financial Planning, Superannuation

Advice billing rethink required

SMSF advice billing

Practitioners may need to revise their billing for SMSF advice clients from 1 July due to the legislation resulting from findings by the banking royal commission.

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Contributions, Pensions, Strategy, Superannuation, Tax

Year-end client considerations

financial year end

The end of financial year is arriving and planners need to ensure clients are prepared for SMSF financials and tax returns by 30 June.

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LRBA, Superannuation

Sector growth unimpeded by COVID-19

SMSF sector growth

The growth of the SMSF sector has continued into a third successive quarter after taking a small hit at the height of the coronavirus pandemic.

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Superannuation

SMSFs still on top for member satisfaction

SMSFs member satisfaction

SMSF members continue to report very high levels of satisfaction with the performance of their fund, according to rolling research.

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Auditing, Superannuation

Price of audits expected to rise

SMSF audits price

Practitioners have indicated they believe SMSF audit prices will increase after 1 July due to the amendments to APES 110.

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Residential Property, Superannuation

Property developments okay with sole purpose

property development sole purpose

An SMSF running a property development in all reality is unlikely to be in breach of the sole purpose test, according to specialist lawyer.

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ATO, Superannuation

Disputed member exits an issue

member exits SMSF

Protracted member exits are beginning to be treated more severely by the ATO as it becomes a growing issue across the SMSF sector.

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Pensions, Superannuation

Work test, legacy pension details clarified

work test bring forward

The government has clarified how the proposed work test and non-concessional contribution bring-forward rules outlined in the budget will operate.

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Pensions, Superannuation

Govt releases ECPI changes draft legislation

ECPI legislation

Two years after announcing changes to ECPI, the government has released draft legislation for industry consultation on the move.

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