News : Tax

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.

read more
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.

read more
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.

read more
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.

read more
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.

read more
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.

read more
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.

read more
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.

read more
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.

read more
Pensions, Tax

New tax to impact pension strategies

super tax pension

Pension strategies dealing with a member’s death could be impacted by the proposed additional tax on super balances above $3 million.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.