News

Contributions, Legislation, Tax

Reserve allocations a $3m cap issue

Reserve allocations Total superannuation balance Contributions $3 million soft cap tax Concessional cap

The treatment of reserve allocations to members for the purpose of the $3 million soft cap is problematic and can have significant adverse outcomes.

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Death benefits, Regulation, Tax

Death benefit payment delay risky

Death benefit Payment Pension Lump sum ECPI

SMSF trustees have been urged to promptly distribute death benefits as doing so is believed to reduce the likelihood of unintended consequences.

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SMSF, Superannuation

SMSFs top member satisfaction again

SMSF Member Satisfaction Roy Morgan

SMSFs were the only part of the superannuation sector to record a positive level of satisfaction in a recent survey of fund members.

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ASIC, financial advice

Exam changes to be implemented

ASIC Financial adviser exam

Changes to the content of the financial adviser exam proposed by the government will go ahead and apply to the next sitting in March.

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ETFs, Investments

VanEck releases private credit ETF

VanEck Private credit ETF

VanEck is set to list its 40th ETF for the Australian market with the release of a global private credit fund.

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Investments, SMSF

Dig deep into related-party concerns

related party investments SMSF

Consistently reviewing the relationships between parties to an investment is the most prudent way to ensure clients do not fall foul of the related-party rules.

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Retirement, SMSF, Superannuation

Definitions key to avoid retirement confusion

Superannuation Retirement definition Financial adviser Accountant Auditor Heffron Leigh Mansell

SMSF practitioners are confusing the definition of retirement for superannuation purposes, but need to be aware there are two ways to view this event taking place.

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financial advice, Retirement

Advice funded by super supported

Retirement Financial advice Superannuation Funding Cost of advice Colonial First State Kelly Power

Australians strongly support the use of a financial adviser and believe retirement savings should be accessible to pay for it.

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Accounting

Clarity sought on aged-care reform bill

Aged care Reform Funding Draft legislation Association of Independent Retirees

A body representing self-funded retirees has called on the government to provide additional detail on the costing and funding contained in the draft Aged Care Bill 2023.

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Accounting, SMSF, Superannuation, Tax

Timeframe limits foreign transfers

Foreign superannuation fund Lump sum payment Timeframe SMSF Superannuation rules

The Australian superannuation rules make lump sums paid from overseas pension schemes attractive but perhaps unachievable.

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