News

Superannuation, Tax

Balance equalisation appeal to rise

balance equalisation strategies

Equalisation strategies may increase in their appeal as a method to counter the proposed new tax on member balances above $3 million.

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Investments, Strategy

Specialist firms launch strategy service

investment strategy service

Two specialist firms have launched a service to assist SMSFs create compliant investment strategies that match the specific aims and goals of a fund.

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Retirement

Cost of living continues to rise for retirees

cost of living

The cost of living for retirees increased by 7.5 per cent over the year, raising the level of super needed to fund a comfortable retirement.

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SMSF

New SMSFs favour fewer members

New SMSFs members

Current statistics have revealed funds servicing fewer members have the most appeal for individuals looking to establish an SMSF.

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Superannuation, Tax

Super will remain best retirement vehicle

superannuation retirement savings

Superannuation will remain the best vehicle to manage retirement savings despite proposals to increase tax on earnings for some fund members.

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Investments

Franked dividend policy misses target

franking credits

The government policy to prevent company share buybacks from including franked dividends will not impact the parties Treasury has targeted.

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SMSF, Tax

Soft cap has member death impact

SMSF member death

The proposed 30 per cent tax on super balances above $3 million would continue to have an effect even after an SMSF member passes away.

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ASIC, Auditing

More ASIC auditor fee action needed

SMSF auditors fee

The fee auditors are charged for cancelling their ASIC registration is set to be reduced, but the SMSF Association wants more to be done.

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Pensions

TBC change offers pension fix opportunity

TBC pensions

The indexation of the transfer balance cap may create an opportunity for SMSF members to restructure pensions to reduce tax paid on those income streams.

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Superannuation

The difference a consultation paper makes

superannuation objective

The government’s proposed objective of superannuation has a number of problems and issues that need to be worked through before it can be legislated.

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