News : Tax

SMSF, Tax

Rule out all unrealised gains taxes

Division 296, tax, superannuation, Labor, The Greens, Angus Taylor, SMSF Association, The National Farmers Federation, The Council of Small Business Organisations Australia, COSBOA, The Family Business Association, unrealised gains, paper gains

A coalition of industry associations has called for a clear commitment that the next government will scrap the taxation of unrealised investment gains before it expands across the entire tax system.

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ATO, Tax

Acting on Bendel case unwise

Unpaid present entitlement, UPE, Bendel, Shelley Banton, ATO, auditor,

SMSF trustees have been told to resist acting on a recent court decision with regard to an unpaid present entitlement from a unit trust.

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Contributions, SMSF, Tax

Reserving useful to stymie Div 293

SMSF members facing a Division 293 tax bill should consider a contribution reserving strategy as a method to offset the additional impost.

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Contributions, Superannuation, Tax

Tax impact of withdrawals nuanced

Sound knowledge of the rules regarding super fund drawdowns is a must to determine the level of tax deduction available for a personal contribution.

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Superannuation, Tax

Div 296 lapse shows sector strength

SMSF Association, Division 296, ATO, Legacy pensions, Centrelink, SMSF, Centrelink, Treasury, election,

The failure of the Division 296 tax bill to pass through parliament highlights the work done by the SMSF sector to raise awareness about problems with its structure.

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ATO, Legislation, SMSF, Superannuation, Tax, Trusts

Avoid state trustees in estate plans

Cooper Grace Ward, Sarah Camm, Gainer, Clinton Jackson, Annual Adviser Conference, Brisbane, ATO,

State or public trustees should be avoided as a back-up plan in SMSF estate plans as they often don’t want the job and assigning it to them could breach superannuation laws.

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Legislation, Tax

Up in the air

The fate of the Division 296 tax is facing different challenges and scenarios in the face of the upcoming federal election.

The fate of the Division 296 tax is facing different challenges and scenarios in the face of the upcoming federal election.

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SMSF, SMSFA, Tax

Budget confirms Div 296 still on the table

The federal government will take the Division 296 tax to the election given the budget contained no mention of the status of the proposed impost.

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Investments, Superannuation, Tax

Financial services stability welcomed

The 2025 federal budget has been recognised for providing stability for the financial services industry in anticipation of the impending election.

The 2025 federal budget has been recognised for providing stability for the financial services industry in anticipation of the impending election.

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