News : Tax

Investments, Tax

Franking credit inquiry opposes refund changes

Accountant; SMSF; defrauded

The final report from an inquiry into the removal of franking credits to some individuals has opposed the move, despite being split along party lines.

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Investments, Tax

Labor claims franking credit inquiry not valid

The Labor Party has accused the chair of the franking credit inquiry of breaching parliamentary standards and colluding to influence consumers.

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Investments, Tax

FSC supports franking credit report recommendation

The FSC has welcomed a recommendation from a parliamentary inquiry which has opposed the removal of franking credit refunds.

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Investments, Pensions, Tax

ALP franking credit policy doesn’t abandon self-funded retirees

The opposition’s treasury spokesman has described Labor’s plan to scrap franking credit refunds for certain individuals as closing a loophole instead of withdrawing support for self-funded retirees.

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Superannuation, Tax

Super fund mergers granted permanent tax relief

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Super funds looking to merge will be granted tax relief on a permanent basis from the next financial year.

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Investments, Superannuation, Tax

Government super taxes hit by share buy-backs

Taxes collected by the government from superannuation funds are expected to dip as a result of recent off-market share buy-backs.

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Superannuation, Tax

Franking credits refund ban to still begin from 1 July

tax impact; franking credits

The abolition of franking credit refunds would begin from 1 July 2019 under a Labor Government, regardless of whether the required legislation was passed.

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Superannuation, Tax

Franking credit removal will create two SMSF classes

The removal of franking credit refunds will divide SMSFs into two classes based on which funds are able to continue to claim them into the future.

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Tax

Contributions sweeteners predicted for budget

Positive changes to the contributions rules may be contained in this year’s federal budget as an election sweetener, according to SuperConcepts.

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Superannuation, Tax

New CGT concessions book hits the shelves

A just-published book is aimed at acting as a reference guide to the small business capital gains tax concessions and their superannuation implications.

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