News : Superannuation

Superannuation, Tax

Actions outside SMSF can impose NALI burden

SMSF NALI

SMSFs need to be careful about non-arm’s-length actions outside the fund, which can still create a later NALI burden inside the fund.

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ATO, Superannuation

NCC breaches on ATO radar

Deliberate NCC breaches

Calculated efforts to game the non-concessional contributions (NCC) cap to reduce tax are known to the ATO, which will consider them as tax evasion.

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Strategy, Superannuation

SMSF intergenerational wealth purpose to rise

SMSFs intergenerational wealth

Over the next 10 years, SMSFs will increasingly be used an intergenerational wealth accumulation vehicles, a leading actuary has said.

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Superannuation

Super risks deterring contributions

Superannuation risks deterring contributions

Legislative risks in relation to super may be deterring younger people from topping up their balances during the current low interest rate environment.

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ATO, Superannuation

ATO issues update on new TBC debit

Rules to watch in the months ahead

The ATO has warned trustees that new transfer balance cap (TBC) debit rules might affect them following recent changes to superannuation rules.

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Retirement, Superannuation

Small contribution can shift retirement view

super contributions retirement

A small increase in super contributions can affect how people see their retirement prospects, shifting them from negative to positive.

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Administration, Superannuation

Split contributions to lower TSBs

Splitting contributions

Splitting a previous year’s contributions to a spouse is one of a few effective ways of reducing a TSB at 30 June, an SMSF technical expert says.

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Superannuation

SMSFs drive super system change

SMSF sector

The success of the SMSF sector is driving competition within the wider super industry, a senior government minister has said.

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Administration, Superannuation

SuperConcepts reports sharp asset decline

superconcepts

SuperConcepts has reported a sharp fall in assets under administration after a year of restructuring the SMSF administration business.

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Retirement, Superannuation

Actuaries Institute wants broader SG coverage

Superannuation guarantee cover

A call for the super guarantee to include more Australians regardless of their employment situation has been made by the Actuaries Institute in its submission to the Retirement Income Review.

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