News : Superannuation

Superannuation

Super and natural disasters

January 23, 2020

Meg Heffron

SMSFs may not provide the type and magnitude of financial assistance victims of the recent bushfires are seeking.

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Superannuation

FSC calls for more super choice

January 22, 2020

Tharshini Ashokan

The Financial Service Council has advocated for legislation to be amended so superannuation choice can be extended to all employees.

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Superannuation

IPA notes end of SG anomaly

January 20, 2020

Darin Tyson-Chan

A major accounting body has reminded all superannuation stakeholders that a loophole in the retirement savings system governing the super guarantee levy has been closed.

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Regulation, Superannuation

Work-test repeal would help gender imbalance

January 16, 2020

Tharshini Ashokan

Removing the superannuation work test and introducing a spousal rollover measure would counteract the disparity in super balances between men and women, the SMSFA has said.

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Regulation, Superannuation

Number of TSB thresholds should be cut

January 14, 2020

Jason Spits

The number of total superannuation balance thresholds in use is confusing for trustees and advisers and should be reduced to two simple benchmarks, according to the SMSF Association.

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ATO, Superannuation

ATO clarifies SG clearing house cut-off

January 14, 2020

Tharshini Ashokan

A recent ATO guideline will benefit employers using the regulator’s Small Business Superannuation Clearing House to pay super contributions.

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Compliance, Superannuation

TBC indexation determined in late January

January 13, 2020

Darin Tyson-Chan

Superannuants will know in late January whether indexation will be applied to the transfer balance cap from 1 July 2020.

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Documentation, Superannuation

Ordinary company not for corporate trustees

January 13, 2020

Jason Spits

Corporate trustees should only be using special purpose company structures and failing to do so may be considered a breach of superannuation regulations.

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ATO, Superannuation

SMSFs recover after wind-up spike

December 19, 2019

Tharshini Ashokan

Growth in the SMSF sector remained strong in the September quarter, despite a dip in the net number of funds established in the previous quarter.

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Regulation, Superannuation

AML rules may exacerbate SFLU problems

December 19, 2019

Jason Spits

SMSFs removed from the Super Fund Lookup (SFLU) may be caught under anti-money laundering (AML) laws impacting the flow of money in and out of the fund.

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