News

ATO

ATO offers record-keeping assistance

The ATO has notified advisers they can request information from the SMSF regulation body regarding their clients’ total superannuation balance in order to determine compliant contribution strategies in the lead-up to 1 July.

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Business News

Two points key to resolution body success

The effectiveness of the new Australian Financial Complaints Tribunal announced in the 2017 federal budget will depend on the ultimate structure of the organisation, a technical expert in the industry has said.

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Superannuation

LRBAs still have merit

Despite the federal government’s decision to include the outstanding balance of limited recourse borrowing arrangements (LRBA) in a member’s annual total super balance, advisers can still find opportunities for their SMSF clients ahead of the new rules commencing, according to a superannuation and estate planning legal expert.

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Compliance

Specialist advice required immediately

The SMSF Association has urged trustees to seek specialist advice in order to make the most of the super reforms, as well as ensure their funds comply with the new regulations.

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Practice Management

BGL releases super reforms functionality

Specialist SMSF administrative software provider BGL Corporate Solutions has incorporated new functionality to assist practitioners service their clients regarding the capital gains tax (CGT) relief provisions contained in the super reforms set to take effect from 1 July.

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Investments

High returns aren’t always best investment

High returns are always better, right? Unfortunately, SMSF and other investors who focus on average returns while ignoring the volatility of those returns may be setting themselves up for substantial long-term underperformance.

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Investments

SMSFs pursuing high yield on property P2P

Peer-to-peer platform for real estate debt Peer Estate has identified its SMSF users are showing a strong preference for opportunities that offer higher returns.

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Superannuation

Financing for NCCs offered to SMSFs

Gresham Partners has designed a solution that allows superannuants to make a significant contribution to their fund before the 1 July super changes come into force.

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Strategy

First home salary sacrifice sums unclear

The amount of money that can be allocated to the First Home Super Savers Scheme requires clarification to allow proper compliance with and execution of the initiative, an SMSF strategy specialist has said.

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Superannuation

SMSFs significantly ramp up benefit payments

SMSF trustees boosted their benefit payments in the March quarter as a way of taking advantage of the current rules around non-concessional contribution (NCC) caps, the latest SuperConcepts “SMSF Investment Patterns Survey” found.

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