News

Latest iteration of SuperMate launched

March 1, 2022

The new-generation SuperMate has been launched by SuperConcepts, which has promised to offer compatibility with previous versions.

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ASIC

Disciplinary panels may address ASIC concerns

March 1, 2022

Jason Spits

ASIC’s adviser-led disciplinary panels may be called upon to review trends in bad advice and provide input into deterrent measures.

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Superannuation

More work needed to close super gap

March 1, 2022

Tia Thomas

Closing the 23 per cent gap between women and men’s superannuation has been too slow, with ASFA calling for committed strategies to reduce inequality.

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Superannuation, Tax

Deed change deductions not equal

February 28, 2022

Jason Spits

Tax deductions for a change to an SMSF trust deed are based on the impact on the operation of the fund and so not applied across the board.

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Contributions

Shift super caps from annual to lifetime

February 28, 2022

Jason Spits

Superannuation contribution caps should be shifted from an annual to lifetime basis to better recognise contribution patterns and reduce costs and complexity.

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Pensions

Accumulation-phase death benefit fix possible

February 28, 2022

Tia Thomas

An SMSF expert has provided solutions to ensure a death benefit paid during the accumulation phase is not excessively impacted by tax.

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ATO, Tax

Deductibility of LRBA costs limited

February 24, 2022

Jason Spits

Limits apply to the tax deductibility of expenses related to setting up an LRBA, with the ATO viewing legal advice as outside the deduction provisions.

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ATO

ATO performance calculation change welcomed

February 24, 2022

Tia Thomas

The ATO’s decision to alter its SMSF investment performance calculation method to align with that used by APRA-regulated funds has been welcomed by the SMSF Association.

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Documentation