News : Superannuation

Administration, Superannuation

Better SMSF insights to come

SMSF running costs

New research into fund running costs will soon be released by the SMSF Association to coincide with its SMSF week initiative.

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Investments, Superannuation

COVID-19 liquidity risks threaten SMSFs

SMSFs liquidity risks

Liquidity issues within SMSFs have been exposed by COVID-19 and relief measures may not be sufficient to prevent the failure of some investments.

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ATO, Superannuation

Good behaviour will not cancel penalties

good behaviour SMSF penalties

The ATO will look favourably on well-behaved SMSF trustees, but they should not expect to get off scot-free when breaches occur, an SMSF expert has warned.

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ATO, Superannuation

ATO prevents illegal access to $126m

ATO illegal access SMSFs

The ATO’s front-door compliance program for SMSFs prevented illegal access to over $126 million in retirement savings during the 2020 financial year.

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Superannuation

SMSFA optimistic about fund member bill

six member SMSFs

The SMSF Association is confident the bill increasing the maximum number of SMSF members from four to six will be passed.

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Superannuation

Senate committee green-lights expanded funds

six members SMSFs

A Senate committee has recommended SMSFs be allowed to accommodate six members, but dissenting senators called for greater regulation around SMSF advice.

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ATO, Superannuation

SG amnesty impact can be eased

SG amnesty

Super guarantee amnesty payments do not necessarily have to be recognised in the financial year in which they are received, a technical manager has said.

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Superannuation

YourSuper benchmarking measures detrimental

YourSuper benchmarking

The benchmark measures to be used in the YourSuper comparison tool announced as part this year’s federal budget superannuation reforms could be detrimental to long-term fund behaviour.

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Retirement, Superannuation

Fintech tool to overcome early release effect

fintech early release tool

The effect of early release of superannuation on retirement income balances can be mapped according to a fintech firm which claims a new tool can also show how to offset that impact.

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Superannuation

Impersonal super misses target

impersonal superannuation

Single-solution superannuation offerings prevent fund members from finding the best contribution and investment mix for their retirement goals.

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