News : Superannuation

Class enhances TBAR functionality

April 8, 2019

Class has made enhancements to transfer balance account report functionality following the release of a new ATO online service portal.

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Pensions, Superannuation

Contributions measure raises other system questions

April 4, 2019

Darin Tyson-Chan

A technical expert has queried whether other aspects of the superannuation rules will need changing in line with the measure announced in the budget amending contributions for individuals over the age of 65.

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Regulation, Superannuation

Six-member SMSF legislation dropped

April 3, 2019

Darin Tyson-Chan

The government has withdrawn the legislation enabling SMSFs to service a maximum of six members.

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Strategy, Superannuation

Contribution measures get mixed reaction

April 3, 2019

Darin Tyson-Chan

The federal government’s decision to scrap the work test and enable the non-concessional contributions rule for people aged 65 and 66 has been met with a mixed reaction.

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Pensions, Superannuation

SMSF Association welcomes budget inclusions

April 3, 2019

Hrishikesh Joshi

The budget items changing how exempt current pension income can be calculated and the easing of the work test requirement have been applauded by the SMSF Association.

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Pensions, Superannuation

Changes made to ECPI calculation rules

April 2, 2019

Jason Spits & Darin Tyson-Chan

The methodology for calculating ECPI has been changed, allowing trustees in accumulation and retirement phases in one financial year to choose their preferred method of calculation.

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Superannuation

SuperStream start date pushed back to 2021

April 2, 2019

Jason Spits, Darin Tyson-Chan & Hrishikesh Joshi

SMSFs will have wait nearly 18 months more to access the SuperStream system, which will now be introduced in early 2021.

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Superannuation, Tax

Super fund mergers granted permanent tax relief

April 2, 2019

Jason Spits & Hrishikesh Joshi

Super funds looking to merge will be granted tax relief on a permanent basis from the next financial year.

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Investments, Superannuation, Tax

Government super taxes hit by share buy-backs

April 2, 2019

Jason Spits

Taxes collected by the government from superannuation funds are expected to dip as a result of recent off-market share buy-backs.

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ASIC, Education, Superannuation

Super complaints, consumers given funding boost

April 2, 2019

Jason Spits

The government will investigate the creation of an advocacy body for superannuation consumers, while providing funding to deal with unresolved complaints.

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