News

Superannuation

Large balance cap punishes compliant funds

balances cap SMSFs

Placing a cap on SMSFs with large balances would punish funds that have and are operating under government-approved superannuation rules.

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Investments

Investment control not leading to more trades

SMSF investments control

SMSFs set up for the purposes of investment control tend to trade at the same rate as those established for other reasons.

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financial advice

Markets drive up value of advice

market value of advice

Financial advice has been a key factor in helping investors handle volatile markets, with advisers considered a source of value by their clients.

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Contributions

NOI requires great care

notice intent contribution

Advisers and trustees need awareness of situations where it may not be possible to amend an NOI regarding a personal deductible contribution.

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Death benefits

Death benefits vary for TBC, TSB

death benefits TBC TSB

Advisers need to be aware of the differing treatment of a death benefit pension with regard to the transfer balance cap and the total super balance.

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Pensions

Limits to pension payments a myth

death benefit pension

Claiming a death benefit cannot be paid as a pension with a reversion in place is a common myth that limits estate planning options.

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Compliance, Documentation

Govt launches director ID campaign

director ID campaign

The government will run an awareness campaign to ensure company directors have applied for a director ID number before the end of next month.

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NALI/NALE

NALE solution may already exist

NALE LCR

The NALE provisions regarding general expenditure may not be as severe as first thought due to details regarding these items in the ATO’s ruling.

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Superannuation, Tax

Pre-election promises important to budget

election promises budget

The peak SMSF industry body is hopeful the Albanese government will stick to its pre-election commitments when it hands the budget down next week.

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Annuity, Pensions

Pension, annuity innovation stalled

Pension annuity innovation

Innovations in retirement savings have focused on the accumulation phase leading retirees to lack confidence in pension and annuity products.

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