News

Financial Planning

Unused concessional cap a reserve elimination tool

Unused concessional cap a reserve elimination tool

A technical expert has advised rules that allow individuals to carry forward their unused concessional contributions cap for five years if their total super balance is below $500,000 can help to get rid of SMSF reserves.

read more
Accounting

CFSGAM renamed as First Sentier

CFSGAM First Sentier

The acquisition of Colonial First State Global Asset Management by Mitsubishi UFJ Trust and Banking Corporation has been reflected in the business being rebranded as First Sentier.

read more
ATO, Auditing

Auditors in frame for SMSF investment strategy

auditors investment strategy ATO

Auditors may be held responsible for the absence of an investment strategy, with recent letters from the ATO showing they had a gatekeeper role.

read more
ATO, Investments

CAANZ makes recommendations re ATO letters

ATO SMSF investment strategies

A major accounting body has made recommendations as to how SMSF auditors, administrators and tax agents can play a role in the ATO’s scrutiny of investment strategies.

read more
ATO, Regulation

ATO unveils plan to stop illegal super access

Illegal access to superannuation

The ATO has implemented a new SMSF registration process and will work with APRA-regulated funds to improve the rollover process as part of its plan to prevent illegal access to super via SMSFs.

read more
Financial Planning

AMP planners receive legal action support

AMP planners legal action

The legal action the AMPFPA has proposed against AMP on behalf of its members has received significant support, increasing its likelihood.

read more
ATO, Residential Property

Funds given push on first home savings scheme

First Home Super Saver

The ATO will contact superannuation funds that have lagged in their efforts to release funds to first home buyer members who have requested their savings.

read more
Administration, ATO

ATO to help track unused contributions

unused contributions carry forward

Administrative assistance being offered by the ATO should make monitoring the amount of a person’s unused concessional contributions cap with a view to using the carry-forward contributions provision much easier.

read more
Pensions

Transaction timing can boost ECPI

transaction timing ECPI

SMSF trustees can boost their exempt current pension income (ECPI) by timing when they make fund transactions, according to an actuarial services provider.

read more
ATO, Superannuation

Illegal early release still area of concern for ATO

SMSFs illegal early release

The ATO has flagged an increase in the number of SMSFs being used for illegal early release of superannuation funds.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.