News

Superannuation

Death not definitive in lump sum strategy

lump sum payment

A lump sum paid from super will not necessarily be treated as a death benefit even if the relevant member passes away before the payment is made.

read more
Succession Planning, Superannuation

BDBNs not only option for death benefits

BDBN death benefits

While BDBNs are a popular way to allocate death benefits, they can be overturned, so other existing options should also be considered.

read more
Financial Planning

FSC calls for end to safe harbour, SOAs

safe harbour SOA costs

Replacing statements of advice with simpler documents and removing safe harbour steps would reduce advice costs and time by one-third, the FSC has claimed.

read more
Regulation, Retirement

Carve-out a missed opportunity

retirement income carve-out

A chance to address retirement issues extending beyond investment themes may have been missed by excluding SMSFs from the retirement income covenant.

read more
Contributions, Tax

No TSB impact on business CGT contributions

business cgt contributions

The ability for an individual to make a small business capital gains tax contribution is not impacted by their total super balance.

read more
ATO, Superannuation

Independent valuation a cheap insurance policy

Independent asset valuation

SMSFS can avoid expensive asset transfer errors by seeking an independent asset valuation even though it is no longer required in all cases.

read more
Estate Planning

Death benefit conflict needs urgent management

death benefit conflict

SMSF trustees should, before they die, resolve any conflict of interest around death benefits that stem from naming a beneficiary as executor.

read more
Auditing

Decline in auditors not over yet

SMSF auditors number

SMSF auditor numbers are declining and recent changes to independence and fees are likely to drive that trend further.

read more
Estate Planning

Estate planning education still required

superannuation assets death

The treatment of superannuation benefits in the event of a member dying remains an area largely misunderstood by the general public.

read more
Regulation

SMSFA joins effort to expand compo scheme

compensation scheme

The SMSF Association has joined a coalition of industry and consumer groups to push for a wider compensation scheme for consumers.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.