News

Investments, Pensions, Tax

ALP franking credit policy doesn’t abandon self-funded retirees

The opposition’s treasury spokesman has described Labor’s plan to scrap franking credit refunds for certain individuals as closing a loophole instead of withdrawing support for self-funded retirees.

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Regulation, Superannuation

Six-member SMSF legislation dropped

The government has withdrawn the legislation enabling SMSFs to service a maximum of six members.

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Strategy, Superannuation

Contribution measures get mixed reaction

The federal government’s decision to scrap the work test and enable the non-concessional contributions rule for people aged 65 and 66 has been met with a mixed reaction.

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Pensions, Superannuation

SMSF Association welcomes budget inclusions

The budget items changing how exempt current pension income can be calculated and the easing of the work test requirement have been applauded by the SMSF Association.

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Pensions, Superannuation

Changes made to ECPI calculation rules

Maths on a blackboard.
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The methodology for calculating ECPI has been changed, allowing trustees in accumulation and retirement phases in one financial year to choose their preferred method of calculation.

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Superannuation

SuperStream start date pushed back to 2021

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SMSFs will have wait nearly 18 months more to access the SuperStream system, which will now be introduced in early 2021.

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Superannuation, Tax

Super fund mergers granted permanent tax relief

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Super funds looking to merge will be granted tax relief on a permanent basis from the next financial year.

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Investments, Superannuation, Tax

Government super taxes hit by share buy-backs

Taxes collected by the government from superannuation funds are expected to dip as a result of recent off-market share buy-backs.

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ASIC, Education, Superannuation

Super complaints, consumers given funding boost

The government will investigate the creation of an advocacy body for superannuation consumers, while providing funding to deal with unresolved complaints.

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Superannuation

Contributions amendments get industry body support

The Financial Services Council (FSC) has strongly supported the changes to the contributions rules announced yesterday aimed at helping Australians nearing retirement boost their superannuation savings. Commenting on the development, FSC chief executive Sally Loane said: “The changes to extend access to the work test exemption, spouse contributions and bring-forward arrangements will provide workers nearing […]

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