News : Superannuation

ATO, Superannuation

ATO tells SMSFs to ignore off-target letters

ATO SMSFs letters

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

FSC COVID-19 superannuation

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

work test changes

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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Superannuation

Early release widening gender super gap

early release gender gap

Analysis of early release super applications shows the relief measure is having a heavier impact on the superannuation balances of women than those of men.

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Financial Planning, Superannuation

COVID-19 changes challenge trustees, advisers

COVID-19 changes trustees

COVID-19-related legislative change has become an area of added concern for SMSF trustees and advisers, who have increased their requests for expert assistance.

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Property, Superannuation

Step carefully before offering rent relief options

SMSF landlords rent relief

SMSF landlords should consider the options available to them before determining rent relief granted to related tenants, SISFA says.

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Compliance, Superannuation

TPB targets tax agents for SAN misuse

TPB SAN misuse

The Tax Practitioners Board (TPB) is reviewing 74 registered tax practitioners believed to have provided false information to the ATO.

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Strategy, Superannuation

Year-end review critical in 2020

SMSF strategies

The importance of reviewing SMSF strategies in the lead-up to the close of the 2020 financial year has taken on new significance due to the COVID-19 economic impact, a mid-tier accounting firm director has said.

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Regulation, Superannuation

Delaying NCC action could bring rewards

bring forward contribution

Members who are eligible but wary about exercising the non-concessional contribution bring-forward provision this year could be rewarded for their patience.

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Auditing, Financial Planning, Superannuation

Auditors on early access notice

auditors early access

Auditors have been called upon to report attempts to rort the early access scheme, while advisers have been warned not to promote services that provide access.

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