News : Superannuation

Foreign transfers need clear reporting

November 26, 2020

SMSFs can receive funds from foreign pension schemes, but must ensure they report the transaction correctly at both ends, an SMSF administrator has advised.

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Strategy, Superannuation

Control is driver for fund set-ups

November 25, 2020

Jason Spits

A new survey has confirmed control over retirement income investments is the chief reason for the establishment of SMSFs.

Advice use could inject $600b into economy

November 25, 2020

Jason Spits

Widespread use of professional financial, superannuation, tax and accounting advice could provide billions in economic benefits to the nation, according to new research.

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Administration, Superannuation

SMSF study clears up cost misconceptions

November 24, 2020

Tharshini Ashokan

The latest research into the running costs of SMSFs has cleared up the common misconception SMSFs are an expensive option compared to APRA-regulated funds, a technical expert says.

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ATO, Superannuation

Accounts deadline for ATO only

November 23, 2020

Jason Spits

A proposed deadline for the finalisation of SMSF accounts will only increase the penalties the ATO can apply and do nothing for SMSFs, industry bodies have claimed.

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Superannuation

Small SMSFs develop rapidly

November 23, 2020

Darin Tyson-Chan

The latest industry research has shown SMSFs with low balances grow to levels allowing them to become cost-efficient very quickly.

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Superannuation

SMSFs are cost-competitive

November 23, 2020

Darin Tyson-Chan

SMSFs with balances of $200,000 or more are as cost-effective as public offer funds, new research has shown.

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Superannuation

SG rise not needed with improved efficiency

November 20, 2020

Jason Spits

Greater efficiencies in the retirement income system could allow people to have adequate retirement income without an increase in the superannuation guarantee, a retirement review has claimed.

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Retirement, Superannuation

Retirement objective a community decision

November 20, 2020

Jason Spits

The greater community needs to set the objective for the retirement income system but must avoid vague outcomes that achieve little, the Retirement Income Review has recommended.

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Retirement, Superannuation

Industry bodies highlight specific report areas

November 20, 2020

Darin Tyson-Chan

The financial services industry bodies have highlighted specific areas of the Retirement Incomes Review for specific scrutiny but have all in the main welcomed the report.

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