News

ATO

ATO grants SuperStream relief

SMSFs ATO SuperStream

SMSFs struggling to obtain an electronic service address for SuperStream rollovers will be able to use paper forms to action them under temporary relief from the ATO.

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Superannuation

Labor wants bigger super role

Labor superannuation

Superannuation is likely to play a bigger role in the nation’s economy should Labor win the federal election to be held later this year.

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Contributions

Salary sacrifice not a June strategy

salary sacrifice contributions

Contribution strategies involving salary sacrifice arrangements should be set up well before the end of the financial year.

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Contributions

COVID recontributions need approval form

COVID recontributions

Recontributions into superannuation to offset the COVID-19 early release of super can soon start, but the ATO has warned an approved form and process must be used.

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Regulation, Superannuation

Budget super measures unlikely

federal budget superannuation

The 2022 federal budget is not expected to contain any significant announcements for SMSFs, but may clarify measures previously introduced.

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Trusts

Trust distributions can create asset breach

trust distributions in-house asset

SMSFs holding a unit trust may breach the in-house asset rules through the incorrect treatment of trust distributions.

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ETFs

ETF popularity continues to boom

ETF Investor research

Investors continue to flock to the ETF market, with core portfolio allocations increasing and no expectations of a slowdown in interest.

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Superannuation, Tax

Div 293 payment clarity needed

SMSF division 293 tax

SMSFs members looking to pay a division 293 tax from their fund need to be clear as to what part of their benefits will be impacted before making that election.

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Cryptocurrency, Technology

Stake to add cryptocurrency capability

cryptocurrency Stake

The ability to access cryptocurrencies is an additional service digital broking service Stake will be making available for its SMSF clients in 2022.

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Regulation

Govt names independent advice review head

Quality Advice review

The terms of reference for the Quality of Advice Review have been released, with the federal government also announcing Michelle Levy will head up the review.

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