News

Contributions

Carry-forward contribution TSB a gateway

Contributions made under the unused concessional cap rules will not hinder the strategy even if the amount means the qualifying TSB is exceeded.

Contributions made under the unused concessional cap rules will not hinder the strategy even if the amount means the qualifying TSB is exceeded.

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Accounting, Division 296, Tax

Division 296 status must be reported

SMSF accountants and tax agents with a full knowledge of a member’s super balances will be obliged to report if they will be assessed for Division 296.

SMSF accountants and tax agents with a full knowledge of a member’s super balances will be obliged to report if they will be assessed for Division 296.

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Payday Super

Payday Super will boost balances

More frequent payments of contributions under Payday Super will boost member balances as those monies gain faster exposure to markets.

More frequent payments of contributions under Payday Super will boost member balances as those monies gain faster exposure to markets.

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Contributions, Tax

CGT contribution strategy marginalised

The federal budget has reduced the effectiveness of making personal deductible contributions to reduce the amount of CGT payable by an individual.

The federal budget has reduced the effectiveness of making personal deductible contributions to reduce the amount of CGT payable by an individual.

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SMSF, Superannuation

SMSFs outpaced in future growth

The SMSF sector will be relatively smaller in 20 years, but will ride the wave of an overall expanding superannuation system.

The SMSF sector will be relatively smaller in 20 years, but will ride the wave of an overall expanding superannuation system.

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LRBA

LRBA ban addresses past problems

A 10-year-old recommendation, which has since been addressed, should not have been the basis for changes to the LRBA rules.

A 10-year-old recommendation, which has since been addressed, should not have been the basis for changes to the LRBA rules.

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ASIC, Compliance, Superannuation

ASIC warns super platform trustees

ASIC has expressed its concerns that platform trustees are failing to appropriately protect Australians' retirement savings.

ASIC has expressed its concerns that platform trustees are failing to appropriately protect Australians’ retirement savings.

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LRBA, SMSFA

Immediate impact of LRBA ban outlined

The peak sector body has recognised the immediate implications of the government’s ban on certain LRBAs for SMSFs with this gearing in place.

The peak sector body has recognised the immediate implications of the government’s ban on certain LRBAs for SMSFs with this gearing in place.

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LRBA

Borrowing change ignores harm source

A ban on LRBAs for residential property does not address the harmful actions of spruikers and lead generators targeting SMSF investors.

A ban on LRBAs for residential property does not address the harmful actions of spruikers and lead generators targeting SMSF investors.

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ASIC

ASIC action against Shield operators

ASIC has started court proceedings against four people linked to the operation of the Shield Master Fund alleging they breached director duties.

ASIC has started court proceedings against four people linked to the operation of the Shield Master Fund alleging they breached director duties.

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