News : Tax

Compliance, Contributions, SMSF, Strategy, Superannuation, Tax

Deductible recontributions scrutinised

Deductions claimed on withdrawals from super that are quickly recontributed will attract scrutiny from the ATO in regards to tax avoidance.

read more
Death benefits, Division 296, Estate Planning, financial advice, Financial Planning, Regulation, SMSF, Strategy, Superannuation, Tax

Div 296 drives estate planning urgency

SMSF members retaining high balances inside super will need to be proactive in their estate planning to avoid a further post-death tax hit.

read more
Division 296, Pensions, SMSF, Tax

Ditch Div 296 for compulsory cashing

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Division 296, compulsory cashing, Institute of Financial Professionals Australia, IFPA, Economic Reform Roundtable, tax concessions, retirement-phase pension, unrealised gains, Natasha Panagis

IFPA has claimed the reintroduction of compulsory cashing would reduce tax concessions in super and generate revenue for the government.

read more
Division 296, Superannuation, Tax

Retirees express super tax disappointment

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Division 296, Australian Independent Retirees, unrealised capital gains, Wayne Strandquist, non-liquid assets, indexation

The government’s unrelenting position to not make any changes to the proposed Division 296 tax legislation is causing anguish among retirees.

read more
Division 296, Legislation, SMSF, Superannuation, Tax

Raising tax threshold a political risk

Doubt has been cast as to whether a future government would have the political courage to increase a non-indexed Division 296 tax threshold.

read more
Administration, Compliance, Division 296, Legislation, SMSF, Superannuation, Tax

Sector lag for Div 296 assessments

The ATO’s assessment of Division 296 liabilities for SMSF members will hinge on when tax returns are filed and may lead to delays.

read more
Division 296, financial advice, Financial Planning, Insurance, SMSF, Superannuation, Tax

Revisit insurance set-up for Div 296

The treatment of insurance within an SMSF will need to be revisited as to determine the effect of policies on a member’s division 296 tax liability.

read more
Contributions, Division 296, financial advice, Financial Planning, SMSF, Superannuation, Tax

NCCs not a Div 296 earnings element

Non-concessional contributions will not play a role in the calculation of earnings for the Division 296 tax for SMSF members.

read more
Contributions, financial advice, Financial Planning, SMSF, Strategy, Superannuation, Tax

Reserving can’t sidestep Division 293

Combined superannuation contribution strategies will not create a method where SMSF members can avoid paying Division 293 tax.

read more
financial advice, Financial Planning, Strategy, Tax

Some clients require Div 296 urgency

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Division 296, risk, Peter Bobbin, Institute of Financial Professionals Australia, Auditors Institute

While the Division 296 tax is yet to be passed into law advisers may need to have some clients act now to manage the liability of the impost.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.