News

Salary sacrifice arrangements need revisiting

July 5, 2021

Salary sacrifice arrangements used in SMSFs may not be consistent with new concessional contribution caps and should be revisited.

read more

ATO, Contributions

Don’t abuse excess charge removal

July 1, 2021

Jason Spits

The removal of a charge on excess concessional contributions should be seen as a favour to super fund members and not an opportunity to exploit its absence.

read more

ATO, Superannuation

ATO offers interim six-member solution

July 1, 2021

Tia Thomas

The ATO has been forced to introduce a temporary registration system for six-member funds and has advised SMSFs to expect potential delays when registering.

read more

Strategy, Superannuation

Trust deed must include certain items

July 1, 2021

Darin Tyson-Chan

An SMSF trust deed must have a series of non-negotiable items in it, such as rules allowing the use of a contribution suspense account.

read more

Pensions, Superannuation

Drawdown relief for all pensions

June 30, 2021

Darin Tyson-Chan

The reduced minimum pension that will now apply for the 2022 financial year is not restricted to account-based pensions.

read more

ATO, Auditing

Figures show SAN misuse not rife

June 30, 2021

Jason Spits

SMSF auditor number misuse remains an area of concern, but ATO figures indicate it is not a widespread problem.

read more

Contributions

Missed contributions not end of the road

June 30, 2021

Jason Spits

Missed opportunities to make bring-forward contributions may open up the possibility for larger contributions under other new rules in the coming financial year.

read more

ASIC, Cryptocurrency

ASIC seeking best practice in crypto offerings

June 30, 2021

Tia Thomas

ASIC has raised concerns about how ETPs and other investment products provide access to crypto-assets for retail investors.

read more

Retirement, Superannuation

Intergen Report positive for SMSFs

June 29, 2021

Darin Tyson-Chan

The findings of the 2021 Intergenerational Report are very positive sign of the future for the SMSF sector for the coming decades.

read more

ASIC, Auditing

Auditor disqualified for independence breach

June 29, 2021

Jason Spits

ASIC has disqualified the SMSF auditor registration of a Sydney-based practitioner who was found to be lacking independence and failed to obtain evidence when required to do so.

read more