News

AMP-linked advice associations merge

February 12, 2020

Two associations for AMP-linked advisers will merge to continue to promote the best interests of their members to the company, government and consumers.

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Compliance, Regulation

Compo scheme should be broad

February 11, 2020

Tharshini Ashokan

All providers of financial services and products should be part of and contribute to an industry-wide consumer compensation scheme, the SMSF Association has recommended.

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ATO, Superannuation

ATO death benefit ruling raises questions

February 11, 2020

Jason Spits

A private ruling by the ATO on the timing of a member benefit payment has raised questions about whether it is consistent with tax and super law.

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Retirement

Retirement held hostage to election cycle

February 11, 2020

Tharshini Ashokan

The Retirement Income Review is an opportunity to provide much-needed clarity within the retirement income system, an SMSF technical expert says.

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ATO

New ATO facility proving popular

February 11, 2020

Darin Tyson-Chan

A significant number of taxpayers are already using the ATO’s myGovID facility

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ATO, Tax

Tax case law has NALE solution

February 10, 2020

Jason Spits

Established and tested tax case law should inform how the ATO will treat non-arm’s-length expenditure (NALE) within an SMSF, an SMSF lawyer has suggested.

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LRBA

TSB changes likely to hit trustee strategies

February 10, 2020

Tharshini Ashokan

Some trustees with LRBAs may need to rethink their usual strategy in order to comply with the changes to TSB calculations, an SMSF technical expert says.

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Administration, Auditing

Audit and admin business rebrands

February 10, 2020

Darin Tyson-Chan

Superannuation Advisors Australia has undergone a rebrand, with the organisation now operating as Seamless SMSF.

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Retirement

Over-50 super caps too low

February 6, 2020

Tharshini Ashokan

Restrictions on voluntary contributions, as well as the complexities of the retirement income system, are deterring Australians from saving enough for their retirement, the SMSF Association says.

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Superannuation

Impact of contribution change unclear

February 6, 2020

Jason Spits

The government needs to provide more information on its planned change to voluntary contributions after the age of 64 to allow the SMSF sector to factor it into this year’s strategies.

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