News : Tax

Accounting, Administration, Tax

Advisers need solid ECPI knowledge

Financial advisers need to have a firm grasp on exempt current pension income and segregation rules as they are no longer just the accountant’s domain.

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Superannuation, Tax

Labor policy scraps tax equality

The scrapping of franking credit refunds unfairly targets SMSFs and goes against principles of equity within the taxation system according to the SMSF Association.

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Superannuation, Tax

Franking credits policy won’t weaken sector

The SMSF industry remains buoyant despite the franking credits proposal, indicating short term tax policy changes will not stifle the sector.

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Superannuation, Tax

ALP proposals aimed at boosting industry funds

Proposed changes to superannuation and tax are designed to bolster industry funds, according to I Love SMSF founder Grant Abbott.

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Administration, Tax

Class offers new automated tax statement service

Class has introduced an automated tax statement system that can create individual or bulk statements for directly held securities.

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Tax

ALP’s trust tax leaves SMSFs hanging

SMSFs have been warned they could be affected by Labor’s proposal to charge a 30 per cent tax rate on discretionary trust distributions to those over 18.

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Retirement, Tax

Govt addresses early retirement payment equality

The federal government has moved to make the tax treatment of redundancies and early retirement payments consistent for all individuals.

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Compliance, Tax

TPB cracks down on SMSF non-lodgers

Over 2700 tax practitioners who are also trustees of their own SMSF have outstanding SMSF annual returns, according to the Tax Practitioners Board (TPB).

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Regulation, Tax

Imputation refund policy to soften

The federal opposition’s proposed imputation dividend refund ban is not as significant an issue as it has been made out to be and is likely to be adjusted before being legislated if Labor wins the next election, according to BlackRock.

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Regulation, Superannuation, Tax

Current imputation refund impost not accounted for

The Financial Services Council (FSC) has criticised the premise the Labor Party has used from a government expenditure perspective to justify its proposed policy of banning imputation credit refunds for certain retirees in its submission to the House of Representatives Standing Committee on Economics inquiry on the matter.

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