News

ATO

TBAR live data expected in new year

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The ATO has announced it is working towards making data collected from its transfer balance account report (TBAR) regime available to individuals and tax agents in early 2018.

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Business News

SISFA appoints new MD

Michael Lorimer

The Self-managed Independent Superannuation Funds Association (SISFA) has appointed Michael Lorimer as its new managing director.

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Business News

BGL exceeds 100,000 paid SMSFs

BGL Corporate Solutions last week announced it had passed 100,000 in paid SMSFs on Simple Fund 360.

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Regulation

ASIC releases industry funding estimates

The Australian Securities and Investments Commission (ASIC) has published its cost recovery implementation statement (CRIS), outlining the regulator’s forecast for costs and activities for the 2017/18 financial year.

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Business News

SMSFA conference theme revealed

The theme for next year’s SMSF Association National Conference to be held in Sydney has been officially announced as “beyond”.

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Accounting

Valuation process most important

The process behind how assets held in an SMSF have been valued is the most important element and not who actually valued the assets, a senior executive with a large chartered accounting firm has said.

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Superannuation

SMSF trust control determined by positive factors

Positive influencing factors rather than negative ones are the elements advisers and their clients must be cognisant of when determining whether an SMSF has control over a trust in which it is invested and as such potential in-house asset issues, an industry technical expert has said.

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Business News

Expect more super changes

The SMSF industry should not become complacent but instead prepare for more superannuation reforms to be added on top of the current changes practitioners and trustees are already challenged by.

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ATO

ATO could change TBAR frequency outcome

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The ATO has announced it will closely monitor the activity on the transfer balance account report (TBAR) regime frequency, whether monthly or quarterly, in case it needs to be changed in order to be more effective.

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Estate Planning

Pensions in new super world require digging

SMSF practitioners will need to consider clients’ estate planning needs at pension establishment more closely and continue to monitor them, as pensions have an important role within SMSF planning in the new super landscape, a technical expert has said.

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