News

Superannuation

Canberra to address financial abuse

The SMSF Association is anticipating a new parliamentary measure to address the issue of financial abuse after the coming federal election.

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ATO, Auditing

Auditors urged to check SAN misuse

SMSF auditors should be checking if their details have been misused with the ATO noting few have accessed its online information service over the past year.

SMSF auditors should be checking if their details have been misused, with the ATO noting few have accessed its online information service over the past year.

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financial advice, SMSF, Superannuation

TSB key to contribution decisions

total super balance, TSB, SuperGuardian, Tim Miller,

The size of someone’s total super balance will be the first factor in determining whether they can deploy a contribution strategy and may limit the options open to them.

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ATO, Regulation, SMSF, Superannuation

Payday super tweak needed for SMSFs

Institute of Financial Professionals Australia, IFP, Natasha Panagis, ATO, payday superannuation payments, Treasury,

Consideration will need to be given to the status of SMSFs under any payday super regime to ensure employer contributions can go to a fund that is temporarily unable to receive them.

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ATO, NALI/NALE, Regulation, SMSF, Superannuation

No ATO guidance to define breaches

Illegal early access, ATO, SMSF Association National Conference 2025, Emma Rosenzweig, NALI, non-arms-length income,

The ATO has stipulated illegal early access of super benefits and SMSF loans to members do not warrant guidance as both are compliance breaches.

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Tax

CGT relief limited in SMSF split

capital gains tax, CGT, DBA Lawyers, William Fettes,

Only one partner in an SMSF will be able to access CGT relief if they move an asset to another fund during a separation, raising the need for carefully structured arrangements.

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SMSF, Tax

Rule out all unrealised gains taxes

A coalition of leading industry associations recommended the government scrap taxing unrealised investment gains before it expanded across the entire tax system.

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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Accounting, Regulation, SMSF, Superannuation

Opposition advice commitment welcomed

Compensation Scheme of Last Resort, CSLR, FAAA, Sara Abood, CAANZ, Chartered Accountants Australia and New Zealand, Labor,

Opposition plans to reduce the cost of the Compensation Scheme of Last Resort and rebuild the advice sector have been welcomed by advice bodies.

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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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Pensions

Legacy pension exit may need two steps

Five-year legacy pension amnesty, Accurium, SMSF education, Mark Ellem,

Commuting certain income streams under the five-year legacy pension amnesty will have to be performed using more than one action.

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