News

financial advice, Retirement, Superannuation

Retirees overpaying taxes

Retirement, Super Members Council, SMC, Misha Schubert, tax, retirement, research

Many pensioners are not moving from accumulation to retirement phase with their superannuation, resulting in them paying higher taxation on their savings.

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Superannuation, Tax

SMSFA provides Div 296 bill update

Division 296 tax SMSF Association Peter Burgess Unrealised capital gains SMSF Self-managed superannuation

The SMSF Association has informed members about the status of the Division 296 tax bill and its views as to what might happen in the coming months.

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ATO, Auditing

ACR threshold under continued review

SMSF Self-managed superannuation ATO Paul Delahunty auditor contravention report ACR Threshold

The ATO has considered the appropriateness of the $30,000 test in relation to the lodgement of an ACR and will continue to do so in the future.

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financial advice, Financial Planning, Retirement

Retirement advice deductions possible

Tax deductions retirement Financial advice Colonial First State Craig Day

Practitioners should make greater use of new tax deductions available to clients where their super and retirement advice relies on applying taxation guidance to specific circumstances.

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Accounting, Business News

Financial reporting framework to be revised

Stephen Jones Australian Accounting Standards Board Auditing and Assurance Standards Board Financial Reporting Council Chartered Accountants ANZ Amir Ghandar

Treasury has released a consultation paper regarding the proposed merger of three Australian financial reporting bodies.

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Legislation, Tax

Treasurer’s Div 296 claims rebutted

The SMSF Association has rejected the latest justification Treasurer Jim Chalmers has made regarding contentious elements of the Division 296 tax.

The SMSF Association has rejected the latest justification Treasurer Jim Chalmers has made regarding contentious elements of the Division 296 tax.

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ATO, Business News, Investments, SMSF, Superannuation

Investment strategy approach getting better

The importance accountants and advisers are placing on the SMSF investment strategy and the associated ongoing compliance obligations has improved.

The importance accountants and advisers are placing on the SMSF investment strategy and the associated ongoing compliance obligations has improved.

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Accounting

Retirement savings required quantified

The latest analysis into superannuation has revealed the extent to which inflation has impacted the amount of savings a person needs in retirement.

The latest analysis into superannuation has revealed the extent to which inflation has impacted the amount of savings a person needs in retirement.

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ATO, financial advice, Regulation, SMSF, Superannuation, Tax

CSLR flaws again highlighted

The FAAA has used its latest submission to the Senate Economics Committee to renew its criticism of how the CSLR has been implemented.

The FAAA has used its latest submission to the Senate Economics Committee to renew its criticism of how the CSLR has been implemented.

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Business News, Legislation, SMSF, Superannuation

Early super release review possible

The recent spike in the early release of super benefits on compassionate grounds could lead to a revision of these rules in the near future.

The recent spike in the early release of super benefits on compassionate grounds could lead to a revision of these rules in the near future.

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