News : Tax

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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Tax

CGT, franking credit changes to reduce share gains

Proposed changes to franking credit refunds and capital gains tax will reduce the long-term gains from equities for those already paying high rates of tax.

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Strategy, Tax

Allowance a more solid link to dependency

A sector expert has suggested the payment of an allowance as opposed to specific expenses is a more prudent method of establishing financial dependency and the associated favourable tax treatment in the event of an SMSF death benefit being paid.

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Documentation, Tax

Testamentary discretionary trust death benefit bonus

SMSF death benefits can be better protected from external threats and receive more favourable tax treatment with the use of a testamentary discretionary trust.

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Pensions, Superannuation, Tax

Time to review pension payment rules

There were changes from 1 July 2017 altering which pension payments could be counted towards meeting a client’s minimum payment obligations for the year. It makes sense to review the new rules.

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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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