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Business News

Merry Christmas

Merry Christmas

The team at selfmanagedsuper would like to wish all of its readers a very Merry Christmas and a happy, healthy and prosperous New Year. We would also like to take this opportunity to thank all of you for supporting the title throughout 2019. Today’s newsletter marks the final edition for the year, with the publication […]

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ATO, Regulation

NALE not critical issue for ATO

NALE ATO

The tax implications for SMSFs resulting from the new non-arm’s length expense provisions are not being seen by the ATO as a major concern, according to a technical expert.

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ATO, Superannuation

SMSF collectables under scrutiny

ATO SMSFs collectables

The ATO will use its data matching powers to check if SMSFs are using high value assets for personal use in breach of the law.

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ATO, Tax

Excess transfer balance cap excuses rejected

excess transfer balance tax

Trustees have yet to find an acceptable reason to avoid excess transfer balance tax with recent cases proving the onus lay with them to get it right.

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Administration, Documentation

Asset specific corporate trustees optimal

SMSF corporate trustees

‘Asset specificity’ is the key advantage a purpose-built corporate trustee would have over a non-specific, existing company being appointed an SMSF corporate trustee, an SMSF legal expert has said.

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Business News, Financial Planning

Working group to address mental ill-health

mental health financial advisers

A cross-industry working group will be set up to better co-ordinate efforts to identify and manage mental ill-health among financial advisers.

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Auditing

ATO list crucial for SAN integrity

ATO list SMSF auditor

The ATO’s move to send out lists of audited funds annually is an important step in helping auditors prevent further misuse of their SANs, an SMSF auditor says.

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ATO, Investments

ATO investment strategy guidance imminent

SMSF investment strategy guidance

Guidance in clarifying acceptable practices in formulating SMSF investment strategies will soon be released by the ATO.

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Direct Property, Residential Property

SMSF demand drives fragmented property model

SMSF fragmented property

Demand for property investments from SMSFs will create new models to provide access to investments for trustees without large fund balances.

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Superannuation

Super to hit $4.8 trillion in 2034

Superannuation industry assets

The assets held within the superannuation sector will reach $4.8 trillion by 2034, an actuarial consulting firm has forecast.

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