News

ATO, Compliance, Regulation, Tax

A significant compliance overhaul

The updated AML/CTF regulations will significantly change compliance obligations for more professionals including those servicing SMSFs.

The updated AML/CTF regulations will significantly change compliance obligations for more professionals including those servicing SMSFs.

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Compliance, Division 296, Legislation, Regulation, Tax

System neutrality needed for Div 296

System neutrality is the one element the SMSF Association would like to see with regard to the implementation of the proposed Division 296 tax.

System neutrality is the one element the SMSF Association would like to see with regard to the implementation of the proposed Division 296 tax.

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Compliance, Contributions, Legislation, Strategy, Tax

Recontributions should not be excessive

Using a recontribution strategy to wipe large tax components from superannuation savings is likely to be considered tax avoidance.

Using a recontribution strategy to wipe large tax components from superannuation savings is likely to be considered tax avoidance.

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ASIC, Compliance, financial advice, Financial Planning

UGC, Shield-linked adviser banned

ASIC has banned a Melbourne-based adviser for his role in promoting investments deemed not to serve the best interests of his clients.

ASIC has banned a Melbourne-based adviser for his role in promoting investments deemed not to serve the best interests of his clients.

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Regulation, SMSF, Trusts

Investment via unit trust can be flawed

Compliance with superannuation law and regulations is not necessarily made easier for SMSFs through investing in assets via unit trust.

Compliance with superannuation law and regulations is not necessarily made easier for SMSFs through investing in assets via unit trust.

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ATO, Auditing, Compliance

ATO will target worst audit files

ATO actions over the past year have indicated the regulator will focus on worst-case situations when conducting an auditor review.

ATO actions over the past year have indicated the regulator will focus on worst-case situations when conducting an auditor review.

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Regulation, SMSFA, Trusts

Trustee coercion an issue for sector

More work is needed to address potential financial abuse relating to the process of appointing directors of SMSF corporate trustees.

More work is needed to address potential financial abuse relating to the process of appointing directors of SMSF corporate trustees.

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Cryptocurrency, Investments

Crypto to be more mainstream in 2026

The integration of cryptocurrency into the global financial system, assisted by more regulation, is expected to be a key theme for the asset this year.

The integration of cryptocurrency into the global financial system, assisted by more regulation, is expected to be a key theme for the asset this year.

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Division 296, Superannuation, Tax

TSB Div 296 role changed

The assessment of a super fund member’s total super balance has been changed in the Division 296 tax draft legislation released in late December.

The assessment of a super fund member’s total super balance has been changed in the Division 296 tax draft legislation released in late December.

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