News

LRBA

LRBA offsets can create breach

LRBA offset

LRBAs with offset accounts may breach super laws if they create a charge over the fund with caution advised regarding non-bank loans.

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Pensions

Pension tax strategies impact TBC

pension tax TBC

Pension commutation strategies used to minimise tax in the accumulation phase may limit the level of indexation that applies to a personal TBC.

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ETFs, Investments

Global X launches corporate bond ETF

Global X Corporate bond ETF

Global X has launched a US Corporate Bond ETF in Australia, offering investors access to the world’s largest corporate bond market.

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Investments

Five new portfolios on OpenInvest platform

OpenInvest Spark Financial

OpenInvest has forged a new funds management relationship offering consumers access to a suite of five varied investment portfolios.

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SMSF, Superannuation

TSB used to level playing field

Treasury has admitted the use of the TSB to levy a proposed earnings tax was chosen to prevent people moving funds to sidestep the tax.

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ATO, Compliance

ATO gives trustees six months to comply

ATO SMSF rectification

SMSF trustees ordered by the ATO to rectify a contravention will have six months to do so before being hit with a significant administrative penalty.

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Trusts

Judgment has lost trust deed implications

lost deed
&

A recent appeal in family trust matter highlights the need for SMSFs to address gaps in their fund’s deed history before lawyers are involved.

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Death benefits

Fund account not tied to death benefit

Death Benefits accounts

The account that a deceased member held their superannuation balance in has no bearing on how the death benefits of that person can be paid.

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SMSFA, Superannuation, Tax

TSB tax consultation paper released

TSB tax consultation paper

Treasury has opened a consultation on the planned $3 million TSB earnings tax, with the SMSF Association noting the tax is a blunt instrument.

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Superannuation, Tax

Earnings tax calculator highlights inequity

Earnings tax calculator

An online tool comparing the calculation of proposed superannuation earnings tax with other methods reveals it will not be an equitable solution.

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