News

Retirement

How about stimulus for self-funded retirees?

Coronavirus stimulus

The federal government needs to include self-funded retirees in its coronavirus stimulus measures.

read more
Estate Planning, Pensions

Set model no BDBN tension fix

BDBN priority

A prescribed model on how to deal with binding death benefit nominations and reversionary pensions was unlikely due to a lack of agreement on their operation inside an SMSF.

read more
Accounting

Carry-forward rules a splitting boost

Carry forward contribution splitting

The new rules regarding carry forward concessional contributions can augment contribution splitting strategies from the current financial year onwards.

read more
ATO, LRBA

ATO flags new LRBA reporting in SAR

SAR LRBA

The ATO has highlighted key updates to the 2020 SMSF annual return form, including a change to LRBA reporting requirements.

read more
ATO, Superannuation

Downsizer errors face penalties

ineligible downsizer contributions

Downsizer contributions made by SMSF members who are ineligible to make them could attract an ATO penalty, a technical expert has said.

read more
Estate Planning

Dual funds can prevent estate tensions

super estate planning

Dual superannuation funds can be used to separate assets in a blended family and to ensure benefits go where they are intended, an SMSF specialist has suggested.

read more
ATO, Auditing

ATO issues auditor appointment reminder

appoint SMSF auditor

The ATO has reminded trustees they are legally required to appoint an approved SMSF auditor by 31 March or face the possibility of a large fine.

read more
ATO, Compliance

ATO data lifts need for warnings

ATO investment strategy compliance

New ATO data-checking abilities mean trustees need to comply with investment guidelines and advisers should be promoting this compliance.

read more
ATO, Superannuation

Angst over concessional cap records

concessional contributions

ATO record-keeping with regard to unused contributions caps able to be carried forward is still causing worry among SMSF tax agents.

read more
Business News

Heffron recruits Cavendish founder

Heffron Cavendish

A long-serving and senior figure in the SMSF sector has taken on a new expansion-focused role with Heffron.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.