News

Compliance, Contributions, Regulation, Strategy

Bring-forward rule timing important

Bring-forward arrangement Non-concessional contributions Contributions Contribution caps Indexation SMSF

The higher non-concessional contributions caps coming on 1 July will not be applicable for everyone looking to use the bring-forward rules.

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LRBA, Regulation, SMSF

Beware LRBA interest rate impact

Interest rates LRBA SMSF Loans Related-party

SMSF practitioners should assess their clients’ existing LRBAs and explore opportunities to secure a better interest rate for the loan through a commercial lender.

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Insurance, Investments, SMSF

Guidance doesn’t negate insurance duty

SMSF collectables ATO guidance insurance

ATO guidance on what constitutes a collectable does not remove a trustee’s responsibility under superannuation laws to properly store and protect any asset.

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Legislation, SMSFA

Div 296 tax a flawed, rushed policy

Unrealised capital gains SMSF Association Division 296 tax

Government plans to introduce a superannuation earnings tax for member balances over $3 million have been rushed and remain flawed despite industry feedback calling for change.

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financial advice, Regulation

CSLR adviser levy exceeds $18 million

FAAA Compensation Scheme of Last Resort Levy Funding Financial advisers

The compensation scheme of last resort has unveiled its levy funding estimates, prompting concern from one industry body over the costs imposed on the financial advice sector.

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ATO, Compliance, SMSF

Key illegal access link quantified

ATO Illegal early access SMSF Promoter

Individuals setting up an SMSF are accounting for a significant proportion of the people illegally accessing their retirement savings early.

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Pensions, Superannuation, Tax

MLP valuations under Div 296 still unclear

Market-linked pensions Defined benefit pensions Division 296 tax Valuation Treasury

Guidance on the treatment of market-linked pensions in relation to the Division 296 tax has yet to clearly outline how these interests will be valued under the cap.

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financial advice, Investments, SMSF

Markets spur SMSF advice

Investments SMSF Financial advisers Trading Ausiex

The changing nature of financial markets last year saw an increase in new advised SMSFs across all age demographics, with these funds being active traders.

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Business News, financial advice

New level of IFPA membership on offer

IFPA Membership Pippa McKee

Members of the Institute of Financial Professionals Australia are now able to access a premium level of membership that has just been launched.

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Property, SMSF

Use property as compliance reminder

SMSF advisers can use the purchase of a property by a trustee as a trigger to remind them and other professionals of the ongoing compliance and administration obligations that will need to be met each year after acquisition.

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