News

Death benefits, Trusts

Unit trust bypass of SMSF unwise

self managed super, self managed superannuation, SMSF, transactions, payments, unit trust, death benefits, Accurium, Lee-Ann Hayes, Mark Ellem, SMSF Professionals Day 2025

Unit trust distributions to SMSFs should be executed in the cleanest way possible, especially when death benefits are involved.

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AFCA, Investments

AFCA holds stance on wholesale investors

self managed super, self managed superannuation, SMSF, retail investor, $10 million, Australian Financial Complaints Authority, AFCA, Shail Singh, Patrick Hartney, wholesale investor, definition, SMSF trustee, financial service

AFCA has reiterated the wholesale investor test will only apply for an SMSF when it has more than $10 million and other assets are not considered.

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Auditing, Technology

Div 296 means auditors need tech

self managed super, self managed superannuation, SMSF, Division 296, auditors, Sharesight, Doug Morris, SMSF portfolio, $3 million threshold

The proposed Division 296 tax will create more work for SMSF auditors, meaning they need to look at how technology can make their lives easier.

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Contributions, Superannuation

Recontribution barred due to glitch

self managed super, self managed superannuation, SMSF, superannuation, recontribution strategy, new financial year, MLC, Scott Quinn, non-concessional contribution, bring-forward, Janet Manzanero-Caruana

A handful of people looking to use a recontribution strategy in the new financial year will be unable to do so under a birth date-related anomaly.

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Division 296, SMSF, Superannuation, Tax

Div 296 progress unconscionable

self managed super, self managed superannuation, SMSF, Division 296, Tax Institute, Julie Abdalla, unrealised gains, alternative model, consultation period

Government plans to push on with introducing the Division 296 impost completely disregard the input of key stakeholders and override the rules of equity in tax law.

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ATO, Pensions

ATO releases legacy pension guidance

self managed super, self managed superannuation, SMSF, ATO, commutation, legacy pensions, reserve allocations, SMSF Association, lifetime pension, life expectancy pension, market-linked pension, amnesty, guidance

New guidance from the ATO on commuting legacy pensions has been welcomed, but the SMSF Association says more detail is required.

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Investments, Technology

Investment platform to enter SMSF sector

self managed super, self managed superannuation, SMSF, investment platform, moomoo, SMSF service, market trading, fund establishment, administration, compliance, Michael McCarthy

A multidimensional facility for SMSFs is set to be launched to provide both investment and administrative services to the sector.

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Education, financial advice, Financial Planning

Technical skills more important than ever

self managed super, self managed superannuation, SMSF, SMSF Association, Technical Summit, Peter Burgess, Louise Biti, Bryce Figot

The SMSF Association is focusing its Technical Summit on helping practitioners deal with difficult real-world scenarios.

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Pensions

Reserve allocations may need actuaries

self managed super, self managed superannuation, SMSF, actuary, legacy pension, commutation, reserve allocation, complying lifetime pension, Smarter SMSF, Tim Miller, SuperGuardian, pension value, amnesty

The allocation of a reserve associated with a legacy pension may require actuarial services if more than one of these income streams exist.

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Accounting, Division 296, SMSF, Superannuation, Tax

Poll finds mixed support for Div 296

Division 296, superannuation, Australia Institute, poll, support, tax concessions, super balances, $3 million, Richard Denniss

A poll has found around half of Australians are in favour of the Division 296 tax, with many giving it strong support.

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