News

ATO, Pensions

TR 2013/5 relief not a free kick

ATO, compliance resources, SMSF, minimum pension payment, Heffron, Leigh Mansell, Taxation Ruling 2013/5, TR 2013/5, payment standards

The ATO’s plans to not review minimum pension payment breaches in the past year should not be viewed as a free kick in regards to other contraventions.

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ASIC

Super rollover firms have assets frozen

Two firms linked to a company that used telemarketers to promote rollovers to SMSFs have had their assets frozen as ASIC investigates their actions.

Two firms linked to a company that used telemarketers to promote rollovers to SMSFs have had their assets frozen as ASIC investigates their actions.

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Pensions

TBC increase not just about pensions

Indexation, general transfer balance cap, superannuation, BT, Michael Tran, total super balance, TSB, co-contributions, spouse contribution, tax offset average weekly ordinary time earnings, AWOTE

The indexation that will be applied to the general transfer balance cap, taking it to $2 million, will also have other non-pension implications.

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Cryptocurrency, ETFs, Investments

Advised funds have more diverse portfolios

SMSF, diversified portfolio, Ausiex, ETF, listed investment companies, listed investment trusts, real estate investment trusts, REITS, Brett Grant, cryptocurrency

New analysis shows advised SMSF investors have a wider variation in portfolio holdings and asset allocation compared with non-advised funds.

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Pensions

Smarter SMSF opens legacy pension hub

Smarter SMSF, legacy pensions, Legacy Pension Hub, commutation, market-linked pensions, lifetime complying pensions, life expectancy complying pensions, reserve allocations, Aaron Dunn, SMSF deed, Tim Miller, market-linked pension, lifetime complying pension, life expectancy complying pension

Smarter SMSF has developed a hub for resources to assist in the commutation of legacy pensions, linking it to the platforms of major administrators.

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Investments

Real estate trusts overlooked

SMSF, real estate investment trusts, REIT, LaSalle Investment Management Securities, Matthew Sgrizzi, income return, interest rates

Real estate investment trusts have been overlooked due to the noise generated by a handful of technology stocks, but the sector is primed for a strong period of returns.

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Contributions, Superannuation, Tax

Contribution can equal forgiven charge

An invoice issued by a trustee to their own SMSF for services but then forgiven can determine the value of the contribution needing to be recorded.

An invoice issued by a trustee to their own SMSF for services but then forgiven can determine the value of the contribution needing to be recorded.

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ATO, Auditing, Compliance

Trustees should be proactive with breaches

Trustees who have a contravention in their fund should be proactive in providing information about the mistake, its rectification and the action they have taken to prevent a reoccurrence.

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ATO, Business News, Compliance, SMSF, Superannuation, Tax

ATO releases auditor priorities

The volume and cost of SMSF auditors’ work will be key areas of focus for the ATO in the coming year, with outliers likely to draw attention.

The volume and cost of SMSF auditors’ work will be key areas of focus for the ATO in the coming year, with outliers likely to draw attention.

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Auditing

Data reflects interesting audit trends

The latest industry statistics recently released by the ATO have uncovered some interesting developments among registered SMSF auditors.

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