Opinions

SISFA

Abandoning the equitable retirement contract

Labor’s proposed superannuation tax changes pose a very real danger of a long-term effect on the savings psychology of our society.

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IPA

Residency reforms a matter of urgency

Residency rules are a fundamental building block for determining how an individual will be taxed in Australia that also carry superannuation implications.

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CAANZ

Death is hazardous for SMSFs

Superannuation death benefits are a minefield and arguably in need of simplification and reform.

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SISFA

Will three-yearly audits really save costs?

In its 2018 budget, the federal government announced plans to introduce a three-year audit cycle for compliant SMSFs. Such a change won’t mean only one out of every three years is audited.

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CPA

Professional standards reforms: an opportunity missed?

The new professional standards regime for financial advisers should be a positive and strong step forward for the financial planning community and its clients, with the objective to deliver a robust framework that is equitable, sustainable, recognises the breadth of the sector and, importantly, reflects the expectations of the community.

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SMSFA

ALP’s franking credit proposal will cut deep and wide

Labor’s proposal to remove cash refunds on franking credits has been criticised on many grounds, from its estimates of potential budget revenue to potentially forcing self-funded retirees into riskier investment portfolios in their search for yield to failing to consider the impact of the transfer balance cap.

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SISFA

Are triennial SMSF audits a good idea?

In the May federal budget, one particular paragraph proposing audits of SMSFs every three years caught the eye of many SMSF professionals scanning the budget papers.

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CPA

Can the new SMSF audit cycle be justified?

Hidden among the mountain of budget papers was a proposal to allow SMSFs to move from an annual audit cycle to a three-year cycle from as early as 1 July 2019.

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SMSFA

Six-member SMSFs can work well

The federal government’s decision to increase the number of members allowed in SMSFs from four to six is a positive outcome for the SMSF sector.

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SMSFA

Labor proposal to hurt the thrifty

John Maroney

Let’s call them Phil and Mary. Since Phil retired more than 15 years ago and predominantly invested in a portfolio of fully franked Australian shares, this elderly couple, now in their late 60s, have lived comfortably on the income their $1.1 million SMSF generates.

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