News

ATO

ATO clarifies trustee disqualifications

ATO SMSF trustee disqualification

The circumstances influencing when the ATO looks to disqualify an SMSF trustee have been detailed in a new piece of guidance.

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Contributions

Win for small business owners

superannuation contribution

Changes to the superannuation contribution rules introduced on 1 July will advantage individuals looking to sell their small businesses.

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Pensions

Pension splitting a no go within SMSFs

pension payment splitting

Trustees looking to split a pension payment will find superannuation laws have blocked that path, but commutation planning could resolve the issue.

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Contributions

Changes boost recontribution strategy appeal

recontribution strategy SMSF

The usefulness of a withdrawal and recontribution strategy has increased due to the combination of a number of superannuation changes.

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Documentation, Estate Planning

Special powers reduce attorney risks

power attorney SMSF

A special power of attorney has the ability to reduce risks and conflicts that can arise from the use of an enduring power of attorney.

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Documentation, Strategy

Splitting benefits complicated by SuperStream

Splitting benefits SuperStream

An expert has advised SMSF trustees consider the SuperStream rules before splitting member entitlements to ensure they can be moved out of the fund in the correct manner.

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Technology

SuperConcepts adds Mason Stevens data feed

SuperMate Mason Stevens

Investment platform Mason Stevens has been added to incoming data feeds available to SuperMate users.

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Investments

Gold integrated on admin service

Rush Gold SMSF

SMSF trustees can now access gold using manager Rush Gold in their superannuation portfolios by way of BGL’s administration and investment platforms.

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Retirement

COVID impacts retirement plans

coronavirus retirement planning

The coronavirus has had a significant effect on Australians’ retirement planning, with many believing they will have to stay working for longer.

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Auditing

Increase in auditor engagement

SMSF auditor

More trustees appear to be wanting to meet their SMSF auditor face-to-face to establish a level of comfort over the servicing of their fund.

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