News : Tax

Superannuation, Tax

Review should examine super tax concessions

retirement tax concessions superannuation

The retirement income review should consider if tax concessions for superannuation are ultimately being used to fund housing in retirement.

read more
Pensions, Superannuation, Tax

Trustees still not clear on TBCs

Trustees still not clear on transfer balance caps

The tax implications of TBCs are still not understood by many trustees, an SMSF expert says.

read more
Tax

Tax incentives remain important

Tax incentives remain important

Tax incentives will still be a significant contributing factor in the bid to encourage people to save enough money to fund their own retirement, according to Treasury.

read more
Superannuation, Tax

Don’t ignore death tax until death bed

SMSF death tax

SMSF advisers need to discuss the reality of death taxes when setting up a fund to avoid difficult conversations at time of a member’s death.

read more
Superannuation, Tax

Success of super may mean inheritance taxes

superannuation inheritance taxes

The large sums of money currently in superannuation that are being passed on to succeeding generations is likely to lead to the introduction of inheritance taxes, a boutique advice firm has predicted.

read more
ATO, Tax

ATO clarifies tax rules for NALI expenditure

ATO ruling NALI expenditure

The ATO has published a new law companion ruling outlining the proposed amendments to non-arm’s length income provisions.

read more
Regulation, Tax

Accountants split on tax advice oversight

Accountants split on planner tax advice oversight

Accounting and tax bodies have taken a number of differing stances on which regulator should oversee tax advice provided by financial planners, with one calling for no regulation at all.

read more
Residential Property, Tax

Jurisdiction will set foreign purchaser tax position

Foreign purchaser duty SMSF

Advisers should pay attention to how the application of foreign purchaser duty to SMSFs differs between jurisdictions, an SMSF legal firm says.

read more
Accounting, Tax

Treasury puts accountants’ exemption back on table

Treasury accountants exemption

A Treasury discussion paper has flagged allowing accountants to provide basic SMSF advice without being licensed and moving financial planners from under the tax licensing regime.

read more
Pensions, Tax

Pension can retain entitlements even when member dies

pension earnings entitlements

Non-reversionary income streams paid out through pensions can retain earnings entitlements and tax exemptions even when a member dies before payout.

read more

Copyright © SMS Magazine 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital