News

NALI/NALE, Property

Compliance risks with property developments

NALI property development

SMSFs risk tainting an entire property development project with NALI if they at any point use non-arm’s-length arrangements that give the fund an advantage.

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Regulation, SMSF, Tax

Changes to super will not end

superannuation changes

The size of assets held within superannuation means governments are likely to make ongoing changes such as the proposed $3 million tax.

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LRBA, Property, SMSF

LRBA interest rate pain coming

LRBA interest rate

SMSF trustees using a related-party LRBA and adhering to the PCG 2016/5 safe harbour rules will be facing a significant interest rate hike in 2023/24.

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ATO, Compliance, NALI/NALE, Property

SMSF projects probed for NALI breaches

SMSF property NALI

The ATO has cautioned SMSF trustees and advisers about potential NALI breaches in property development projects and, in an unrelated announcement, disqualified over 200 SMSF trustees.

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Education, financial advice

Adviser exam pass rate static

adviser exam pass rate

The number of advisers passing the most recent mandatory exam overseen by ASIC has remained on par with the previous sitting, with around two-thirds being successful.

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ETFs

VanEck reduces ETF fees

VanEck ETF fees

VanEck has reduced the management fees on two of its popular ETFs by more than half after seeing increasing demand for them.

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Superannuation, Tax

$3m soft cap effect significant

$3 million tax impact

Advisers are expecting the proposed tax to be applied to people with a total super balance over $3 million will affect one-third of their SMSF clients.

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Retirement, SMSF, Superannuation

Longevity risk greater for SMSFs

longevity risk SMSF

SMSF trustees are likely to live longer than superannuants belonging to public offer funds, making them more susceptible to longevity risk.

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ATO, Compliance, NALI/NALE

NALI statutory income guidance pending

NALI statutory income

The ATO is believed to be developing guidance for release this month on the calculation of statutory income that will be viewed as NALI.

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Contributions

Reconsider recontribution strategies

recontribution strategies

SMSF trustees and advisers should carefully consider using recontribution strategies to minimise tax burdens as the approach may offer limited benefits.

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