News

Pensions, Superannuation, Tax

Trustees still not clear on TBCs

Trustees still not clear on transfer balance caps

The tax implications of TBCs are still not understood by many trustees, an SMSF expert says.

read more
Financial Planning, Retirement

Ex-planner opens equity release advice business

Ex-planner opens equity release advice business

The growth of the equity release sector has prompted a former planner to open an advice and brokerage service for retirees.

read more
Financial Planning

Consumers place little faith in finance industry

Consumers place little faith in financial advice industry

Consumer trust in the financial advice industry remains low, with more people turning to digital self-help advice tools than in previous years, a recent industry report reveals.

read more
Administration, Regulation

Six member funds regarded as franking credits foil

six member franking credits

A leading SMSF administrator has revealed interest among its clients to have more members in their funds has dropped away since the May federal election.

read more
ATO, Superannuation

TBAR should be lodged when pension rolled over

TBAR pension rollover

Advisers assisting clients with a pension rollover to an APRA fund should make a TBAR at same time to avoid an ATO breach notice.

read more
Property

Unlisted property can boost SMSF diversification

Unlisted property can boost SMSF diversification

SMSFs seeking more diverse investments can use unlisted property funds to gain access to a range of property asset classes, a property funds industry body says.

read more
ATO, Superannuation

Non-lodgement on the increase

SMSFs lodge annual return

The most recent ATO data has shown a jump in the number of newly registered SMSFs that have not logged the fund’s initial annual return.

read more
ATO

Move to real-time reporting more likely

real-time reporting transfer balance

Real-time reporting of transfer balance accounts is very likely and the SMSF sector will move away from the periodic reporting concessions currently in use.

read more
Pensions, Superannuation

Transfer balance transactions trap for unwary

transfer balance transactions

Trustees should be aware that not all transactions aimed at reducing a transfer balance will actually do so and can leave a fund open to excess taxes.

read more
ATO, Financial Planning

ATO letters highlight value of advice

ATO letters value of advice

The letters sent by the ATO to SMSFs with a high concentration to a single asset or asset class were a “brutal” approach to compliance, but have highlighted the value of advice, an SMSF expert has claimed.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.