News : Tax

Superannuation, Tax

FAAA wants soft cap fine-tuned

Financial Advice Association Australia

The FAAA has called for changes to the threshold and calculation method of the newly proposed $3 million soft cap on superannuation.

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Superannuation, Tax

New super tax doesn’t promote fairness

Superannuation tax

IFPA has rejected claims the new tax on superannuation balances over $3 million will allow the system to achieve greater fairness and equity.

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Auditing, SMSF, Superannuation, Tax

Alternative soft cap method mooted

Net taxable investment earnings

The SMSF Auditors Association of Australia has suggested a different calculation process be used for the proposed tax on super balances over $3 million.

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SMSF, Superannuation, Tax

New tax threshold needs review

$3 million threshold.

The consultation process regarding the proposed $3 million soft cap on the superannuation balances of individuals is overlooking a key element.

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Investments, Regulation, SMSFA, Tax

Imputation system bill problematic

Franking credits bill

The SMSF Association is worried about the impact proposed legislative amendments to the franking credit system will potentially have.

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SMSF, Superannuation, Tax

Clarifying the $3 million soft cap

$3 million superannuation cap

The proposed $3 million soft cap has caused significant angst in SMSF circles, but understanding the facts of the measure to date is important.

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SMSFA, Superannuation, Tax

TSB tax consultation paper released

TSB tax consultation paper

Treasury has opened a consultation on the planned $3 million TSB earnings tax, with the SMSF Association noting the tax is a blunt instrument.

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Superannuation, Tax

Earnings tax calculator highlights inequity

Earnings tax calculator

An online tool comparing the calculation of proposed superannuation earnings tax with other methods reveals it will not be an equitable solution.

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Superannuation, Tax

Actuarial certificates may help with new tax

Actuarial certificates tax

A solution to clarify the earnings tax within an SMSF already exists and could be provided by actuarial certificates.

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Investments, Tax

Soft cap to change SMSF portfolios

tax SMSF strategies

SMSF investment strategies may change significantly should the proposed tax on individuals’ super balances above $3 million be implemented.

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