News

IFPA calls on senators to reject NALE

October 30, 2023

NALE IFPA Senate Economics Legislation Committee

IFPA has told a senate committee a bill to address NALE is excessive and should be dropped in favour of returning to a previous legislative solution.

SMSF loans still a compliance risk

SMSF loans ATO Related party transactions

October 30, 2023

Todd Wills

The ATO has urged SMSF trustees to carefully examine any borrowing arrangements in place and verify they are in full compliance with essential regulatory requirements.

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ASIC, Compliance, Investments, Pensions

SMSF investment firm’s assets frozen

October 30, 2023

Todd Wills

ASIC has successfully applied to the Federal Court to freeze the assets of a company that provides SMSF investment services after it failed to provide financial statements and auditor reports.

Best openings from older clients

SMSF trustees Pension Strategies Financial advice Inheritance Estate planning

October 26, 2023

Darin Tyson-Chan

Two distinct issues have been identified as areas on which advisers should concentrate in order to provide the greatest value for their SMSF clients.

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Legislation, SMSFA, Tax

Simpler tax model presented to govt

SMSF Association Superannuation earnings tax Unrealised gains Treasury $3m soft cap tax

October 26, 2023

Todd Wills

The SMSFA has urged Treasury and the government to re-evaluate the taxation of unrealised capital gains within the $3 million soft cap tax.

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Business News, Markets, SMSF

Bluestone upgrades SMSF loan offer

October 26, 2023

Jason Spits

Non-bank lender Bluestone has made changes to the liquidity requirements related to loans available to SMSF lenders.

Partial commutations now trickier

TBAR Transfer balance account reports Quarterly reporting Pension payments Partial commutation

October 25, 2023

Darin Tyson-Chan

The move to compulsory TBAR lodgement will make managing pension payments involving partial commutations more challenging.

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Legislation, Superannuation, Tax

ASFA critical of missing $3m tax details

TSB Superannuation earnings tax ASFA total super balance

October 25, 2023

Jason Spits

ASFA has called the proposed super earnings tax an unorthodox way to address high balances noting it is hard to assess without its operational regulations.

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ETFs, Investments, Management