News

NALI/NALE

NALI/NALE identification an issue

Transactions that could potentially trigger the NALI and NALE provisions are often only being identified by one SMSF source.

Transactions that could potentially trigger the NALI and NALE provisions are often only being identified by one SMSF source.

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Valuations

Inconsistent valuations a flag raiser

The use of a consistent method to value property in an SMSF is unlikely to raise audit concerns, but trustees should be aware changes may attract attention.

The use of a consistent method to value property in an SMSF is unlikely to raise audit concerns, but trustees should be aware of changes may attract attention.

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Contributions

Cents make no sense

Trustees making personal contributions to super need to be aware of how the ATO treats amounts that are not made in whole dollars.

Trustees making personal contributions to super need to be aware of how the ATO treats amounts that are not made in whole dollars.

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Investments

Private credit a risk area for SMSFs

Private credit investments, particularly those in real estate, are an area of heightened risk for SMSFs, with ASIC raising a number of concerns.  

Private credit investments, particularly those in real estate, are an area of heightened risk for SMSFs, with ASIC raising a number of concerns.

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Death benefits, financial advice, Financial Planning, SMSF

Cheap benefit strategies likely to fail

SMSF practitioners who cut corners to save clients time or money may find that strategy fails when disputes arise around benefits.

SMSF practitioners who cut corners to save clients time or money may find that strategy fails when disputes arise around benefits.

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financial advice, Financial Planning, Superannuation

No simple advice definition coming

The government will not be providing a definition of what will be considered simple advice under the Delivering Better Financial Outcomes package.

The government will not be providing a definition of what will be considered simple advice under the Delivering Better Financial Outcomes package.

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Retirement

Longevity risk solution highlighted

Ways to avoid longevity risk-related issues have been mapped out by Accurium in conjunction with a retirement income product provider.

Ways to avoid longevity risk-related issues have been mapped out by Accurium in conjunction with a retirement income product provider.

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Retirement

Australians’ retirement insecurity high

Half of Australians are financially insecure about their retirement, with women, and especially divorced women, even more likely to be concerned.

Half of Australians are financially insecure about their retirement, with women, and especially divorced women, even more likely to be concerned.

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Pensions, Trusts

Automatic pension restart unworkable

Automatically commuting and restarting pensions via a trust deed rule is unlikely to be a valid way to address minimum payment failures.

Automatically commuting and restarting pensions via a trust deed rule is unlikely to be a valid way to address minimum payment failures.

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ATO, Compliance, Regulation, SMSFA

Audit of ATO oversight welcomed

A proposed audit of the ATO’s regulation of SMSFs, the first in nearly 20 years, has been welcomed by the SMSF Association.

A proposed audit of the ATO’s regulation of SMSFs, the first in nearly 20 years, has been welcomed by the SMSF Association.

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