News : Superannuation

ATO, SMSF, Superannuation

Trustee disqualification affirmed

SMSF trustee, disqualification, self managed super, self managed superannuation, Administrative Review Tribunal, ART, ATO, Omibiyi and Commissioner of Taxation, Oladokun Omibiyi, loan to members, SIS Act, contravention

An SMSF trustee who made more than 100 withdrawals from his fund has failed to have his disqualification overturned on appeal.

read more
Legislation, Pensions, SMSF, Superannuation

Legacy pension may force Div 296 strategy

Legacy pension, Division 296 tax, SMSF, self managed super, self managed superannuation, lump sum, $3 million, Heffron, Meg Heffron, complying lifetime pension, complying life expectancy pension, flexi pension, commutation, reserve allocation, total super balance, pension commutation

SMSF members with legacy pensions may need to act before 30 June this year to avoid being caught by the Division 296 tax.

read more
Administration, ATO, SMSF, Superannuation, Trusts

SIS Act main declaration retention guide

ATO, DBA Lawyers, Shaun Backhaus, self managed super, self managed superannuation, SMSF, SIS Act, SMSF trustee declaration, retention, guidance, Auditing and Assurance Standards Board, Guidance Statement 009, ATO QC 63436, declaration form, NAT 71089-06.2021

Official guidance on how long an SMSF trustee declaration should be retained differs from the letter of the law which should be the sole guide on this issue.

read more
ATO, Superannuation

ATO counters false super rule changes

False claims currently being circulated regarding changes to the superannuation drawdown rules have been rebutted by the ATO.

False claims currently being circulated regarding changes to the superannuation drawdown rules have been rebutted by the ATO.

read more
Appointments, Superannuation

SMSF Association welcomes new minister

SMSF Association, SMSFA, Dr Mulino, Anne Aly, Andrew Leigh, Financial Advice Association Australia, CPA Australia and the Financial Services Council, Jim Chalmers, Chartered Accountants ANZ, CAANZ, Ainslie van Onselen, SMSF Association, SMSFA,

The SMSF Association has welcomed the new Financial Services Minister highlighting the significance of size and status of the sector in the industry.

read more
SMSF, Superannuation

CMC safe-harbour needs proactivity

Trustees must be cautious about who will run their fund while they are overseas for an extended period and should act on this before departing.

Trustees must be cautious about who will run their fund while they are overseas for an extended period and should act on this before departing.

read more
Contributions, Regulation, Superannuation

Industry calls for payday super delay

Payday Super, Treasury, submission

A consortium of financial services industry groups have asked Treasury to extend the start date of payday super by two years.

read more
Legislation, SMSF, Superannuation

Fixing CSLR priority number one

CSLR, Financial Advice Association Australia, FAAA, Compensation Scheme of Last Resort, Sarah Abood, sector cap, Dixon Advisory, United Global Capital, CSLR levy, financial advisers, Shield Master Fund, First Guardian

Amending the CSLR has been identified as the most important financial advice-related issue the Labor government must address when parliament restarts.

read more
Superannuation, Tax

Div 296 start not tied to sitting days

The ability of the government to pass the Division 296 tax bill through parliament may have little effect on the date it actually starts, which may be as soon as the new financial year.

The ability of the government to pass the Division 296 tax bill through parliament may have little effect on the date it actually starts, which may be as soon as the new financial year.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.