News : Superannuation

ATO watching early release claims

June 23, 2020

The ATO has repeated warnings it will act against people abusing the early release scheme and has informed them they are being tracked.

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ATO, Superannuation

Clearer cost data welcomed

June 22, 2020

Darin Tyson-Chan

The latest ATO SMSF statistical overview for the 2018 financial year has been commended by a peak industry body for providing more accurate expense data about the sector.

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ATO, Superannuation

Wind-ups peak but growth continues

June 22, 2020

Jason Spits

New ATO data shows the level of SMSF wind-ups peaked in 2017/18, but the size of the SMSF sector continues to grow steadily.

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Financial Planning, Superannuation

COVID-19 SOA relief to end in October

June 15, 2020

Tharshini Ashokan

ASIC’s COVID-19 relief measures relating to advice around the early release of super, including the use of an SOA, will be repealed in October.

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Superannuation

Building super now a priority

June 15, 2020

Darin Tyson-Chan

Queries about superannuation contribution strategies dominated calls to AMP advisers in May overtaking calls about COVID-19 financial relief.

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ATO, Superannuation, Tax

SMSFA surveys members on ASIC relief impact

June 10, 2020

Tharshini Ashokan

The SMSF Association has asked its members for feedback on relief measures provided by ASIC in response to the coronavirus pandemic.

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Superannuation

SMSFs soft target for relief cash

June 4, 2020

Jason Spits

SMSFs and self-funded retirees are soft targets for tax increases designed to replenish government funds spent on COVID-19 relief.

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ATO, Superannuation

ATO tells SMSFs to ignore off-target letters

June 4, 2020

Jason Spits

SMSFs that have received a letter requiring them to report claims for a contribution deduction should ignore them as they do not apply.

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Superannuation

FSC calls for one-off super boost

June 3, 2020

Jason Spits

The Financial Services Council has called for a special contributions regime for super fund members impacted by COVID-19.

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Regulation, Superannuation

Work test changes to start on 1 July

June 1, 2020

Jason Spits

Changes lifting the ages for the work test and spouse contributions will begin from 1 July 2020 after enabling regulations were registered late last week.

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