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In today’s market, there are numerous options for obtaining legal documents such as SMSF deeds, company and trust...
I’m a huge fan of flexibility and simplicity and I expect many accountants, advisers and SMSF members are the same....
The Better Targeted Superannuation Concessions bill has been re-scheduled for debate on 13 February as the last bill on...
The government’s attempt to coerce crossbenchers to pass the super tax legislation by banning credit card surcharges...
The SMSF Association has called on the government to follow up a review of accountants’ roles in terms of their...
The Institute of Financial Professionals Australia remains steadfast in its opposition to the government’s proposed...
The Better Targeted Superannuation Concessions bill was taken off the Senate debate schedule on Thursday, though it...
SMSF trustees must obtain a clearance certificate and give it to the purchaser when selling or disposing of Australian...
The timing of a binding financial agreement is important to mitigate any potential impact on a relationship, a senior...
The average balance in an SMSF has increased by more than 20 per cent, according to the latest ATO...
With less than 11 months until the transition period to meet the education standards ends for financial advisers, there...
SMSF trustees who have a legacy pension allocated in the asset test exempt area should hold back from making any...
The SMSF Association has called on the government to urgently review Tax Ruling 2013/5A1, saying the commissioner’s...
The government is “backing crossbench senators into a corner” by pairing the Better Targeted Superannuation...
While the increase in the transfer balance cap to $2 million is welcomed by many, not everyone will benefit, a...
One of Australia’s peak accounting bodies has called on the government to scrap the Superannuation (Better Targeted...
The stringent rules applied to the definition of interdependency have again been highlighted in a recent private...
The SMSF Association, as a key contributor to a joint industry submission, has secured an important compliance win for...
The proposed $3 million super tax is “symbolic of everything that is wrong” with the tax debate in Australia, the...
The SMSF Association has said it is “unacceptable” that advisers would be expected to pay for the failures of large...
Lack of proper financial advice is costing hundreds of thousands of retirees in unnecessary taxes, the Super Members...
Property is a particularly Australian obsession – we feel a sense of empowerment when we can see what we own and say,...
Minister Jones has announced a “comprehensive review” of the CSLR following the revelation that the levy estimate...
The ATO needs to provide clarification on a number of issues in the law companion ruling dealing with NALI/E, the joint...
SMSF advice professionals and trustees need to have a thorough understanding of a fund’s balance if they are planning...
ASIC has called on superannuation funds to strengthen anti-scam measures after a review found trustees lacked...
The Financial Services Minister has announced that he will retire from federal politics at the next...
The general transfer balance cap will increase from $1.9 million to $2 million from 1 July following the release of the...
The superannuation sector has responded positively to the government’s announcement to introduce mandatory and...
There has been significant movement in the digital advice space over the past decade. As the industry accelerates its...
The Administrative Review Tribunal has upheld ASIC's decision to disqualify an SMSF auditor for failing to comply with...
No one begrudges Treasury’s advice that Australia should have a fair and equitable superannuation system. However,...
The government’s proposed changes to superannuation are effectively “stealing money” from younger generations, a...
ASIC will continue its surveillance of assessing the quality of financial advice to establish SMSFs as one of its key...
ASIC has made two orders to permanently ban a financial adviser who was convicted of stealing funds from a client’s...
The controversial Better Targeted Superannuation Concessions Bill is expected to be brought before the Senate on 4...
Financial advisers and accountants need to be aware of the rules around treating investors as wholesale clients and how...
Accountants are not required to report breaches where a claim is based solely on hearsay or simple opinions, according...
Following the high-profile decision involving Billabong Surf Clothing co-founder Gordon Merchant’s SMSF, the Tax...
The actions of Dixon Advisory parent company E&P Financial and the lack of action from the regulator can’t be...
Consumer advocacy body Super Consumers Australia has updated its home-owner retirement savings targets, with its...
The SMSF Association has refuted Treasurer Jim Chalmers’ claims that the government undertook “heaps of...
The FSC has called for a holistic and evidence-based review of the tax and super systems, rather than the “piecemeal...
The Coalition would repeal the Division 296 tax if it passes into law before the election.
Both advisers and clients need to understand capacity and ensure it is considered before issues arise, a lawyer has...
While the controversial measures have received little support in the Senate, the think tank has argued Division 296...
The Tax Institute has called for adjustments to the proposed changes around general interest charge deductions.
Class has reported growth in the number of accounts across its portfolio, while HUB24 has also reported a boost in...
The shadow minister said a Coalition government would “act quickly to fix the CSLR”, with advisers “wearing the...
Australia’s super system is “too complicated”, according to the Grattan Institute, which has proposed a reform...
DBA Lawyers has announced the appointment of two senior lawyers as new directors of the firm.
There is no reason accountants couldn’t fill the same role in financial advice as the proposed new class of adviser,...
While Treasury has acknowledged the value of financial advisers having access to the ATO portal, concerns around cyber...
According to the professional body, there has been a rising influx of inquiries and practical issues emerging from the...
Following on from part one of our ‘Insurance through an SMSF’ series, which looked at taxation on permanent...
While there are strict eligibility rules, a “little-known” benefit of an SMSF can lead to a massive life insurance...
The Tax Office has released a draft Practical Compliance Guideline addressing changes to the Income Tax Assessment Act...
Unions have hit back at reports the Coalition is planning to reduce the superannuation guarantee if it wins the next...
Yet another increasing tax in Victoria will only further incentivise SMSF trustees to review their property investments...
The cryptocurrency finished 2024 as the seventh largest global asset by market capitalisation, according to new...
In the first episode of the SMSF Adviser Show for 2025, hosts Keith Ford and Aaron Dunn take a look at the hot topics...
The FAAA said the government’s response to CSLR freedom of information requests was “deeply disappointing”, with...
Understanding a range of compliance areas such as the sole purpose test, NALI provisions and property development...
According to a tax specialist and education provider, a case study in the TPB’s guidance on breach reporting...
The Principals’ Community has told the Dixon Senate inquiry that the existence of the CSLR and the way it has been...
Holistic estate plans are becoming increasingly critical as litigation involving SMSFs and member benefits on death or...
A former Dixon Advisory client has told a Senate inquiry that in-house product promotion allows unscrupulous advisers...
The ATO is reminding trustees that some SMSFs needed to lodge their SMSF annual return (SAR) by 31 October...
The transfer of intergenerational wealth in an SMSF needs to have a family buy-in, an expert adviser has...
Total permanent disability payments received by an SMSF member over 60 are tax-free to the member, a specialist adviser...
One of Australia’s peak superannuation bodies has called for the removal of an outdated law denying most teenagers up...
New legacy pension regulations, applying from 7 December 2024, are now in force. They affect lifetime complying, life...
The FAAA’s Phil Anderson has argued that the insights of former Dixon Advisory clients during the inquiry into its...
SMSF professionals should take note of the wording changes in Law Companion Ruling 2021/2DC, which outline the...
Changes around residency rules, central management and control and the active member test could be on the regulator’s...
The shadow minister says, if elected, he would consider examining how accountants could play a greater role in...
Whenever there is a significant change in a personal relationship, best practice dictates that there be an immediate...
One of the major issues that can impact the SMSF audit process is market valuation, a leading educator has...
Most superannuation funds finished 2024 with double-digit returns, according to a recent...
With the latest ATO statistical data showing younger Australians powering the uptake of SMSFs, it is timely to revisit...
Any market-linked pension that has been commenced in an SMSF and any complying lifetime pension can be commuted under...
To determine if an asset classifies as an in-house asset it is first necessary to determine who or what is a...
Generation X has taken over Baby Boomers regarding property wealth and shares, according to new...
SMSF trustees in Victoria are set to be hit with a raft of new taxes, a legal specialist has...
The Compensation Scheme of Last Resort and the Delivering Better Financial Outcomes packages will continue to be issues...
Trustees must review their investment strategy duty throughout the year to avoid ATO scrutiny at audit time, an audit...
What should trustees be considering in 2025?
What do you think were the biggest wins for the sector in 2024?
Perhaps you don’t have an SMSF, but your parents do. As they age, you might play a more significant role in managing...
Where do you think potential future changes should be targeted?
Do you expect as many changes in the SMSF landscape in 2025 as we saw in 2024?
Do you think the Division 296 tax will be up again in February? If not, will it become a policy issue for the next...
In the first of a six-part Q&A, SMSF Adviser asked its expert contributors what were the biggest events to impact...
This year has highlighted what the power of the people can achieve in a David and Goliath...
APRA’s decision to scrap bank hybrids could further attract SMSF investors to the private credit asset class given...
To call 2024 the SMSFA’s annus mirabilis might be an exaggeration – but only just. As I reflect on the year, the...
A recent case in Western Australia has highlighted the importance of having contingency plans for incapacity and the...
With the new year approaching, it’s a good time to do a superannuation check, the Association of Super Funds of...
The stringent conditions that apply to a death benefit dependent have again been highlighted in a recent private...
The ATO has confirmed the 1 July 2018 start date for general and specific NALE, a leading legal specialist has...
The ATO has issued guidance on the recent changes that will allow individuals to exit certain legacy retirement...
More than half of Australians said that contributing to their super and saving enough money for retirement was a major...
The ATO has released guidelines for individuals wanting to apply for Compassionate Release of Super (CRS) for an...
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Tim Miller, SMSF technical and...
It seems the government is still determined to push through its controversial super tax legislation, according to its...
A recent decision provides further lessons regarding trust instruments with no power or inadequate power to...
It’s important for SMSF trustees and professionals to know the difference between part A and part B qualifications,...
SMSF members currently in receipt of an asset test-exempt income stream will not incur a debt if they choose to commute...
The definition of ‘business real property’ is vital if an SMSF owns primary production property and earns extra...
If an SMSF breaches section 85 of the Superannuation Industry (Supervision) Act, anyone who was involved with the...
The Financial Services and Credit Panel has handed down a written reprimand to an adviser that it said provided...
The FAAA has said the current lack of standardisation on the advice fee consent process has made it an “inefficient...
To prevent delays in the SMSF audit process, accountants need to get financial statements basics basics correct, a...
Rent from an overseas property is not allowed to be deposited into a foreign bank account per the in-house asset rules,...
ASIC is encouraging auditors to self-identify and self-report noncompliance as part of its project focusing on...
As an early Christmas present and unexpected result for the Industry, Treasury Laws Amendment (Legacy Retirement...
Christmas is a time for giving, but providing financial assistance to family or friends should not come at the expense...
The FAAA has taken aim at the corporate regulator in its submission to the Dixon inquiry, calling its investigation...
SMSFs are placing themselves at capital risk by adopting a high-growth strategy that aims for high returns over the...
When it comes to getting the most out of an SMSF, focusing on smart investment opportunities and tax strategies is key....
The new legacy pension regulations are a “game changer” but there are still some elements SMSF trustees need to be...
An ongoing case before the courts has highlighted the issue of “informal wills”, a top legal specialist has said....
SMSFs should first consider whether a property constitutes business real property when buying from a related party, a...
The government’s decision to disentangle legacy pension regulations from the $3 million super tax legislation is a...
Another private binding ruling has consolidated the difference between a member benefit and a death benefit and the...
The Reserve Bank of Australia has announced another rate hold amid stubborn inflation and faltering economic...
SMSFs are vulnerable to manipulation due to their lack of regulatory oversight, according to a report on financial...
The way SMSFs are being singled out as part of the inquiry into the collapse of wealth management companies is not a...
The SMSF victims of Melissa Caddick have reached an in-principle settlement in a class action against the auditors...
A uniform tax on earnings across all accumulation and retirement accounts is one of the reforms suggested by the...
An ATO assistant commissioner has warned that tax agents and SMSF auditors should be aware that a disqualification as...
The demand for financial advice has reached record highs, especially regarding retirement income, according to the...
The ATO has clarified how a contribution can trigger non-arm’s length income in its latest draft taxation ruling on...
The complexity of the proposed payday super (PDS) legislation due to commence from 1 July 2026 could see many small- to...
SMSF trustees looking at investing with the big four banks should be cautious as other credit institutions enter the...
Buried underneath the chaotic legislative whirlwind in the last week of November was updated ATO advice on NALI...
While there has been a generally positive response to the release of the second tranche of DBFO reforms, industry...
The most recent decision in a continuing legal battle has shown the importance of retaining the trust deed of trusts...
Financial advisers should undertake reasonable investigations of investment options to detect underperformance, ASIC...
Following a whirlwind of legislative activity in the last few days of the parliamentary sitting calendar for the year,...
Although the SMSF Association has said the framework outlined in the second tranche of the government’s Delivering...
This article is part of a series on SMSF succession planning. In part 2, we explored the important role of binding...
A motion to split the Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023...
Unlike multi-member funds, single-member funds have three trustee options available, a leading SMSF educator has...
The ATO has reminded trustees that some SMSFs will need to lodge their SMSF annual return (SAR) by 28 February...
A simple test at the end of each financial year can help determine if an SMSF has any disregarded small fund assets, an...
SMSF landholders in Victoria need to be aware of their obligations under the new Short Stay Levy Act 2024, a legal...
New research has revealed that more than half of Australians would forgo making extra superannuation contributions as...
The temporary shelving of the $3 million super tax legislation has been met with cautious optimism from the SMSF...
The passing of the Objective of Superannuation bill last week is about more than enshrining or making sure preservation...
The ATO has issued updated information on the recent amendments to section 295-550 of the Income Tax Assessment Act...
The Federal Court has ordered the director of a property development company that promoted the use of SMSFs for...
Trustees should reconsider every three years whether an SMSF is still the correct retirement strategy for their needs...
Experts have advised that SMSFs looking to invest in cryptocurrencies must ensure the investment aligns with the...
The government’s plan to increase the tax on superannuation balances over $3 million has officially been abandoned,...
Low-cost auditors are putting SMSF trustees at risk, two of the sector’s leading practitioners have...
The CSLR has said 80 per cent of claims so far have related to personal financial advice, with the vast majority...
Assets in the SMSF sector have surpassed the $1 trillion mark for the first time, underscoring the confidence in the...
To borrow and slightly misquote former British Prime Minister Harold Wilson, 24 hours is a long time in politics....
The four conditions of release for insurance policies covering death, total and permanent disability, temporary...
The Senate’s inquiry into the collapse of Dixon Advisory and the minister’s special levy discretion has seen a...
The ATO is reminding SMSF trustees that if they have had transfer balance account events in the last quarter they must...
The controversial $3 million super tax legislation may be off the table for the time being but the industry is not out...
Although it is a principle of Australian superannuation that funds must have liquidity to manage prospective...
More women than men entered into SMSFs in the September quarter, according to the latest ATO...
Although the Better Targeted Superannuation Concessions Bill is again not listed for debate this week in the Senate, it...
Before taking out death benefit insurance in an SMSF, trustees need to consider whether it will ultimately be...
The new pension reforms will see allocations to member accounts from surplus amounts treated as non-concessional...
APRA should release the data it has collected since 2021 on account-based pension investment returns now, says one of...
Most SMSFs pay tax or receive a refund once a year when they lodge their annual return. But some people are charged...
For SMSF clients wanting to claim a larger tax deduction as a result of TD2024/7, there is some urgency if they are...
The IFPA has thrown its support behind a grassroots campaign to educate Australians about the impacts of the proposed...
ASFA has urged the federal government to develop a national retirement income strategy to guide the primary purpose of...
Better retirement products, increased transparency and best practice principles are part of the superannuation reforms...
SMSF trustees can choose to deduct amounts under section 295-470 based on the fund's future liability to pay the...
Acquiring a second limited recourse borrowing arrangement for a property could breach the single acquirable asset...
Treasurer Jim Chalmers has said at a press conference on Monday he will be making an announcement today on...
When establishing a reversionary market-linked pension, SMSF members have the option of setting it up based on the...
There is a continued push to look at reforming the legislated definition of ‘child’ regarding superannuation law,...
***Updated*** The Minister says super funds should already have sufficient liquidity to meet existing or prospective...
A recent court case is a stark reminder for advisers of the importance of maintaining an original documents register, a...
SMSF trustees should be aware of the consequences of using legal documents obtained from non-qualified suppliers, warns...
Most Australian retirees and pre-retirees do not have a strong understanding of Division 296 and its implications for...
Withdrawals and contributions can effectively implement a recontribution strategy if an asset sale is impractical, an...
SMSF investment in a private company can be difficult due to compliance rules but it is possible, a legal specialist...
SMSF Adviser and principal partner Mortgage Choice are proud to announce 30 winners for the annual Women in Finance...
Without fanfare or prior notice, the Albanese Government has initiated legacy pension reform.
The Better Targeted Super Concessions Bill has not been scheduled for debate in the Senate next week, creating doubt as...
A parent who cared for their ill adult child has not been deemed a death benefit dependent in a private binding...
A successor director has more strategic and practical advantages than an alternate director in an SMSF corporate...
The ATO is advising SMSF trustees not to use their funds to buy Christmas presents or pay for...
The importance of correctly allocating monies spent on rental property expenses has been highlighted in a recent...
Deciding on shareholders and the number of shareholders is just as important as appointing directors to protect estate...
There has been a dramatic increase in Australians using their SMSFs to invest in property over the past two to three...
If residential land in Victoria has been or will be vacant for more than six months in a calendar year, the property...
The severe financial risk of the proposed Division 296 tax has been highlighted by one of the sector’s best-known...
A death benefit pension does not have to come from a previous pension interest, says a leading SMSF...
Organisations must go beyond recruiting a diverse workforce and embed a culture of inclusion to reap the benefits,...
Terminal illness insurance payouts will remain unrestricted, non-preserved benefits and will be returned to a normal...
ASIC commissioner Alan Kirkland has cautioned against cold calling and inappropriate super switching, calling it the...
Even with interest rate cuts, the property investment market is likely to track sideways for a period before there is a...
The ATO is targeting SMSF auditors who continue to defy independence rules, a senior technical specialist has warned....
There are four major tools to help SMSF trustees and members resolve internal disputes, a leading legal specialist has...
The ATO has published information on why auditors may issue a qualified audit report when SMSFs use an investment...
This article is part of a series on SMSF succession planning. In Part 1, we explored the key elements of a robust SMSF...
Proposed amendments to the tax promoter penalty laws risk further thinning the line between tax advice and scheme...
A lump sum pension payment can cause an issue with pension payment standards, a specialist consultant has...
A global investment management firm executive has called for standardised promotion policies to close the “gendered...
A new private binding ruling has addressed the nuances that can determine if a withdrawal from a superannuation fund is...
Investment in ETFs is the fastest-growing category for SMSFs, the CEO of one of the sector’s biggest software...
Momentum Media has announced 26 winners across 10 individual and 15 group categories for its brand-new Australian AI...
The Federal Court has ruled against ASIC in its proceedings against Dixon Advisory director Paul Ryan, ordering the...
There is potential for “contradictory signals” regarding the transfer balance cap and the Division 296 tax if the...
A trustee needs to obtain an actuarial certificate if the “proportionate method” is used to exclude all or part of...
SMSF members and trustees could face fines of up to $19,800 for a 60-unit penalty from tomorrow, a legal expert has...
The central bank has served up a disappointment for punters on Melbourne Cup Day.
Comments made last week by Assistant Treasurer Stephen Jones about the proposed new super tax have raised some critical...
An SMSF must have an actuarial certificate to claim exempt current pension income via the proportionate method, says a...
Death benefit complaints to AFCA increased by about 30 per cent over the past year, according to its latest annual...
SMSF trustees need to make sure they're disclosing all rental income and claiming the correct rental deductions to...
Advisers should be aware of the difference between TRIS in pension and TRIS in retirement phase, says a leading...
A notice of intent to claim a deduction for a personal superannuation contribution can be impacted if it is not...
This is part 10 of our series of ‘employee versus contractor’ articles. Part 10 focuses on recently updated...
The importance of having a “commitment to a shared life” to claim interdependency has again been highlighted in a...
The ATO has issued guidance to SMSF trustees on why auditors may issue a qualified audit report when SMSFs use an...
Failure to have a proper estate plan in place may result in a reduction in wealth passed on to beneficiaries,...
SMSFs are an “integral” part of Australia’s retirement choices and the government cannot allow a “preferential...
The level of disability is an important consideration regarding disability insurance payouts in superannuation, says a...
ASIC has suspended the registration of three SMSF auditors connected to an administration provider for one...
This article is the first in a series on SMSF succession planning. In part 1, we examine the key characteristics of a...
One of the most frequent SIS Act breaches is the failure to separate fund assets from members’ personal assets, says...
There are two methods to unwind a limited recourse borrowing arrangement, but both need to be documented and executed...
SMSF industry stalwart Meg Heffron is one of three new members appointed to the SMSF Association...
Assistant Treasurer Stephen Jones has said it is a fairer outcome if the government “modestly” reduces tax...
A reversionary pension must satisfy minimum pension requirements irrespective of whether it was paid to the deceased or...
A trading account can go into a negative balance without breaching the SIS Act, but care must be taken, warns an SMSF...
The SMSF Association has urged the government to take a whole-of-government approach to consider all current and...
Insurance in an SMSF should line up with a fund’s overall investment strategy and be reviewed every 12 months, says...
Advisers need to be wary of clients constructing contrived arrangements about their retirement to gain early access to...
The ATO said it is reviewing and assessing all new SMSFs before they can receive a registered or complying status on...
The non-arm's length income provisions contained in s 295-550 of the Income Tax Assessment Act 1997 continue to be a...
Whether a pension reversion nomination conflicts with a binding death nomination is not “black and white”, says a...
Following the success of a pilot program targeting “high-volume” SMSF auditors, the ATO is preparing to roll out...
Without proposed reforms to financial advice, Australians face a chain reaction of financial uncertainty over...
The latest instalment of the (in)famous SMSF-related series of court decisions involving the Friggers has been...
In this special episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by a pair of experts on...
Inappropriate financial advice linked to SMSFs made up the majority of claims received by the Compensation Scheme of...
A recent NSW court case has questioned whether assets retained via an SMSF are still subject to attack when the estate...
The High Court in Hill v Zuda held that ‘reg 6.17A has no application to an SMSF.’ Accordingly, SMSF deeds have a...
More Australians are planning on working past 65 for either social or financial reasons, according to new research from...
Confusion over SMSF wholesale classification thresholds and advice for low-balance clients to establish SMSFs were...
Failure to create, execute, perform and retain documents for an SMSF can leave a fund and its trustees unable to...
There are still many SMSF trustees and professionals who lack an understanding of how the proposed Division 296 tax...
The SMSF Association said it is concerned about the impact of the proposed amendments to denying deductions for the...
A lump sum withdrawal from a superannuation account shortly before the death of a member but received days after death...
It is more tax effective to leave superannuation to an estate rather than a binding death benefit nomination to...
Financial advisers will be pivotal in ensuring that wealth is passed on efficiently and in a way that aligns with the...
The inheritance of a reversionary pension is a trigger event for the beneficiary’s transfer balance cap if they are...
It’s essential to “read the deed” after a member’s passing, even if a trust deed has been drafted specifically...
The SMSF Association has urged the government to allow a pension reserve to be exited where the recipient had...
Compliance breachesAcquisition of assets from a related party
The interplay between reversionary pensions and binding death benefit nominations regarding which one takes priority is...
Using a spousal contributions strategy to a second spouse can be problematic because money may not naturally flow to...
Building a network of mentors and coaches with varied skill sets could help women achieve their career goals, according...
Timing the sale of assets is critical to take advantage of tax opportunities, especially in the event of the Division...
An attorney can make or renew a superannuation binding death benefit nomination but there are a number of conditions...
The Financial Advice Association Australia said it supports the draft legislation on legacy pensions but has urged the...
The proposed Division 296 tax will see a change in the definition of total superannuation balance, says a leading...
The SMSF Adviser Technical Strategy Day kicked off on Tuesday in Brisbane in front of a room full of advisers,...
Advisers recommending SMSF clients diversify into the private market space need to consider the difference in the...
With Generations X, Z and Millennials in the early stages of a wealth transfer that will place an estimated $3.5...
A leading technical and education specialist has advised that if an SMSF exceeds the 5 per cent in-house asset limit...
Although the retirement income covenant may not be targeted at SMSFs, it is useful for helping advisers assist clients...
Leading cloud-based accounting software provider Class has launched two significant enhancements to make it easier for...
A recent court case has highlighted that SMSF assets can be protected from the trustee’s personal administration...
The term ‘reserve’ has different meanings regarding superannuation law and tax law, says a legal...
SMSFs should consider diversification into private credit, which offers an attractive income stream and capital...
In this six-part series on the decision of In the matter of Gainer Associates Pty Limited [2024] NSWSC 1138, we’ll...
Is near enough good enough when valuing SMSF assets at market value?
The fight to amend the controversial Division 296 tax passed through the lower house on Wednesday is not over, says an...
Assistant Treasurer Stephen Jones has claimed it is “simply not true” that unrealised capital gains are not taxed...
Some assets within an SMSF are “so obscure” that it is difficult to get a valuation, says a leading legal...
The SMSF Association has urged the Senate to reject legislation that would inflict a higher tax rate on the earnings of...
Some SMSF members can use six years of unused concessional caps in the current year, says an industry...
SMSFs should do property title searches each year and obtain an annual market valuation, according to an industry...
The Australian Financial Complaints Authority has launched a consultation on its approach to superannuation death...
The amendment put forward by the SMSF Association regarding the $3 million super tax has been defeated in the lower...
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Julie Steed, senior technical...
The latest ATO quarterly statistics have shown strong growth in the number of SMSFs and growth driven by Generation X...
The complexities surrounding market valuations will mean more onerous obligations and responsibilities for all SMSF...
The SMSF Association stated in a recent submission to the Senate standing committee on economics that SMSF ownership of...
AI is entering the SMSF administration landscape with the launch of a new company founded by an Australian...
A death benefit paid to a charity will be treated as assessable income, according to a recent private binding...
“Good pension paperwork” is essential when electing for a reversionary pension, says a legal...
The Australian government should phase out tax breaks from superannuation and capital gains, according to the latest...
Young Australians are increasingly concerned about retirement security and are turning to SMSFs as a solution,...
There has been a 50 per cent rise in cryptocurrency investment in the SMSF sector, according to a new...
The legacy of the royal commission continues to haunt Australia’s financial services sector, which now faces an...
SMSF members often look to do this by renovating, repairing or making improvements to their SMSF property.
A change in the work test rules has meant that recontribution strategies are easier to use more frequently, says an...
It’s important to distinguish between the rules around legacy pensions and the ability to commute them with the...
Trust in financial advisers is at an all-time high, according to a new report from the Financial Advice Association...
Timing is crucial to maximising exempt current pension income when restructuring investments as fund members approach...
Establishing a superannuation fund for grandchildren is possible in Australia but there are some caveats to be aware...
SMSFs are turning towards gold and other precious metals as a more stable wealth preservation asset than traditional...
All SMSF trustees must appoint an approved auditor to audit the operations of their fund each year. This annual audit...
The passage of the controversial $3 million super tax legislation seems unlikely before the end of the year, says the...
Industry funds are seeing a significant increase in transfers to SMSFs, according to new data....
A technical expert has outlined the benefits and drawbacks of integrating SMSFs into the RIC, suggesting that it may be...
ASIC has taken action against the registration of 13 approved SMSF auditors during the first half of...
Accountants and advisers need to explain to clients with blended families how death benefit payments may be impacted...
Private wealth advisers are under increasing scrutiny by the ATO, says a leading legal...
The shadow treasurer and shadow finance minister have urged their Labor counterparts to formally abandon the...
The definition of arm’s length dealings is not as straightforward as it seems, a technical expert has...
A recent private binding ruling (1052284933968) has again highlighted the ATO’s tough stance on the issue of personal...
Any changes to the negative gearing rules won’t impact the majority of SMSFs, says a leading industry...
The ATO’s June quarterly statistical data on the SMSF sector has been released and has revealed continued...
The Commissioner of Taxation doesn't have the discretion to overlook even a single missed step made in claiming a tax...
Only 1 per cent of SMSFs are using a strategy that creates space in their transfer balance cap and opens up the...
The ATO has released its final determination regarding the tax deductibility of advice...
Both the Treasurer and the Prime Minister have confirmed that Treasury is exploring changes to the contentious...
The government has released a draft amendment clarifying its expectations on how sections 15 and 45 of the...
The second tranche of the Quality of Advice Review will be high on the agenda of the SMSF sector, says an industry...
The tribunal has rejected a taxpayer’s argument that he could choose when to carry forward his unused concessional...
One of Australia’s peak superannuation industry bodies has called for the retirement income sector to work together...
In the decision In the matter of Gainer Associates Pty Limited [2024] NSWSC 1138, the court advised that the SMSF...
There are a lot of big issues to consider for an SMSF looking to invest in a tiny home, says a technical...
A petition has been launched urging the government to amend current SMSF rules to allow members to use their funds to...
ASIC has extended the reportable situations relief and personal advice record-keeping requirements on the same terms...
The central bank has announced its latest rate decision following a month of heightened speculation.
As a lawyer, I do a substantial amount of work advising and representing approved SMSF auditors who are being...
Bigger isn’t always better when it comes to the size of an SMSF, says a specialist...
As retirement approaches, it's essential to strategically reduce debt while maximising wealth growth efficiently to...
A Western Australian woman has been sentenced to three years’ imprisonment for illegally submitting fraudulent...
SMSF advisers are in the running to win one of the coveted Women in Finance Awards...
A superannuation death benefit paid to a deceased estate will not be treated as if it was paid to a death benefit...
In times of market volatility, gold has traditionally been a safe haven for...
The cost-of-living crisis and the change to the work test are impacting non-concessional contributions, according to...
The ATO has updated its publications and online education modules to help trustees navigate the various stages of their...
The ability of beneficiaries to access the records of a discretionary trust is becoming one of the key trust-related...
Data collection and cyber security will become more important as the SMSF sector continues to grow, according to...
The ATO has reminded SMSF trustees that if they have made any transfer balance account events in the last quarter, a...
Perimenopause and menopause training founder and TV journalist Shelly Horton has hit back at calls for businesses to...
The latest episode in Rupert Murdoch’s succession plan has all the expected plot development techniques.
There has been an overwhelmingly positive response from the SMSF sector to the draft regulations for Treasury Laws...
SMSF establishments are expected to exceed 30,000 for FY24 – the first time since the transfer balance cap was...
The recently released exposure draft of Treasury Laws Amendment Instrument 2024 – SMSFs – legacy retirement product...
Big four accounting firms EY, PwC and several other accounting firms have been selected as finalists at the inaugural...
In the decision In the matter of Gainer Associates Pty Limited [2024] NSWSC 1138, the court, among other things,...
Over 70 per cent of SMSFs are not benefiting from access to professional financial advice, according to a new...
A recent case before the NSW Supreme Court has highlighted the importance of transferring all assets to a new trustee...
SMSFs with a small business should check their CGT concessions each year, says an industry...
The number of people taking up downsizer contributions has dropped from a high in the 2021–22 financial year – the...
The government has released the long-awaited draft regulations aimed at giving individuals the option to exit certain...
A common question for members planning multiple pension streams is whether to exceed the transfer balance cap or stay...
When it comes to paying out death benefits, there is no such thing as too much documentation, says a leading SMSF...
A new report has revealed there is a stark disconnect between the income sources pre-retirees expect to rely on and the...
The proposed $3 million super tax legislation was put on hold again last week, and the sector now has to wait until the...
Even a small bank overdraft is considered a breach of section 67 of the Superannuation Industry (Supervision) Act, says...
An inherited residence can attract CGT, highlighting the need for proper estate planning so beneficiaries aren’t...
A recent court decision has examined the role of trustee discretion and death benefit...
Two new courses are now available for advice professionals to meet the legislated requirements to remain in the...
The principal partner of this year’s Women in Finance Summit has said organisations that practise inclusivity are...
In the decision of In the matter of Gainer Associates Pty Limited [2024] NSWSC 1138, the court, among other things,...
The Superannuation (Objective) Bill, which was to be finalised this week in the Senate, was sidelined on Tuesday (10...
Despite the unsuccessful disallowance motion regarding the tax practitioners’ code of conduct in the Senate on...
The new NALI legislation is “unfair” because it lacks any provision that allows the tax commissioner to overlook...
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Peter Johnson, director of...
An SMSF with vacant land cannot claim holding costs, warns a legal...
Asset valuation must be objective, and supportable data should be provided, says a leading audit...
ASIC will, in the coming months, announce the results of its surveillance into how superannuation funds are handling...
The effective use of technology is driving best practices, enabling financial professionals to scale their businesses,...
A motion to disallow the code changes for Tax Agents has failed to succeed in the vote held in the Senate...
The application of regulation 8.02(b) and compliance in relation to the 2025 end-of-year valuations will be the...
The number of SMSF auditors referred by the ATO to ASIC has risen slightly in the 2023–24 financial...
Further consultation is required over ongoing concerns with the Tax Agent Services (Code of Professional Conduct)...
A recent private binding ruling has clarified that if a notice of intent to claim a deduction for contributions has not...
Even if dealing with younger clients, advisers should be asking end-of-life questions to ensure SMSF deeds cover all...
As SMSFs prepare to lodge their returns, it is the perfect time to review the fund’s investment strategy, says an...
Accounting bodies have published an open letter ahead of today’s (6 September) roundtable with the Assistant...
An Australia-based asset management company has joined the conference as a gold...
Former Melbourne financial planner Bradley Grimm was sentenced to 18 months in jail with nine months served for...
The controversial $3 million super tax bill is due to be debated again in Parliament next Thursday (12...
The ATO has released its decision impact statement on Merchant and Commissioner of Taxation [2024] AATA 1102, stating...
A senior SMSF auditing specialist has warned that AI is moving into uncharted territory that will continue to affect...
Ahead of her keynote address at the Women in Finance Summit 2024, Ella Baché CEO Pippa Hallas has outlined how her...
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Matthew Burgess, director of...
There will always be debate about whether it is best for an SMSF to have an individual or a corporate trustee, says an...
It is better to have death benefits paid directly to an intended beneficiary rather than indirectly via the estate of a...
The ATO is reminding trustees to make sure their return is completed in its entirety, including SMSF auditor details;...
Non-arm’s length income (NALI) applies a 45 per cent tax to both ordinary and statutory income of a superannuation...
The latest concessions offered by the Assistant Treasurer in regard to the code changes “are too little too late”,...
An off-the-shelf deed for an SMSF should offer a degree of flexibility, says a legal specialist.
More than a million Australian retirees have been left out of APRA’s quality test of super funds for the fourth year...
Explore why SMSF trustees should consider bullion in this free webcast. Join us for an insightful, free live webcast...
Recent updates in the Practice Statement Law Administration (PS LA) 2021/1 show that the ATO means business when it...
Whether an SMSF should register for GST is generally an easy decision, but there are some instances where it could be a...
The ATO has warned advisers to be aware of recent changes to the promoter penalty laws and the consequences for anyone...
There have been significant changes over the past few decades with respect to female participation in the workforce and...
An SMSF member can have as many pension accounts as they want but only one accumulation account, says a leading...
The way in which a will is drafted can determine whether a recipient will receive a “gift” as intended and can...
Total self-managed super fund assets increased by more than 7 per cent in the 12 months to 30 June 2024, according to...
Anja Pannek has urged organisations to measure their recruitment, retention, and incentive strategies to ensure that...
As the ubiquitously stated trust mantra confirms – it is critical to “read the deed”, particularly where an...
It’s important that trustees and auditors don’t just consider SIS Act compliance but also the professional...
A former Adelaide accountant who worked for an SMSF specialist firm has been sentenced after stealing over $2 million...
The SMSF Association said although losses from scams have more than halved in the first six months of this year,...
A technical expert has urged advisers to consider tax planning strategies aimed at minimising tax obligations for...
Trustees should ensure they maintain accurate and consistent valuation methods in preparation for the Division 296 tax,...
There are four types of non-arm’s length income (NALI), and each has a separate test and operates differently, says a...
Class has launched an enhancement to its trust accounting and administration software cloud solution, Class Trust,...
Former financial adviser and director Ben Jayaweera has been sentenced to 12 years imprisonment for fraud at retrial....
A recent case in the NSW Civil and Administrative Tribunal involving stamp duty exemption and an SMSF has highlighted...
The “commitment to a shared life” has again been highlighted in a Private Binding Ruling regarding the criteria...
The Early Release of Super scheme implemented during the COVID-19 pandemic had little impact on financial resilience or...
Many advisers favour automatically reversionary pensions (ARPs) as a popular strategy for SMSF succession planning....
Capital losses can be used to reduce or eliminate NALI tax exposures in relation to a tainted capital gain, says a...
ASIC has recommitted to conducting surveillance of personal advice provided to retail clients about the establishment...
The SMSF Association (SMSFA) has joined forces with BizCover and insurance brokerage Numerisk to provide SMSFA members...
Transition to retirement income streams are regaining popularity as a way to reduce tax and support retirement, says a...
A petition from October 2022 requesting changes to allow self-managed superannuation funds to make capital improvements...
The ATO is encouraging SMSF trustees to use its voluntary disclosure service to inform it early if a contravention has...
The government would most likely still proceed with its plan to implement the Better Targeted Superannuation...
The case of Dawson v Dawson [2019] NSWSC 826 shows how important estate planning and appropriate deed wordings are,...
SMSF members don’t have to stop work to qualify as retired and access their superannuation legally, says a leading...
The SMSF Association has appointed Keddie Waller as policy manager, strengthening its advocacy and policy work at a...
In this special episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn celebrate the 100th episode of the...
The decision in Slade v Brose [2024] NSWCA 197 provides a stark reminder of where first-order focused advice, or...
If an SMSF member is diagnosed with a terminal illness, it is best not to close out the fund before the insurance has...
An industry expert has urged advisers and their clients to keep pace with the intricacies of Div 296 as it contains...
The ATO is a large bureaucracy and produces a lot of guidance material. Thus it is important that advisers and...
The Joint Associations Working Group (JAWG) has joined the call for amendments to the Treasury Laws Amendment (Better...
The delay in the changes to the Tax Agent Services (Code of Professional Conduct) Determination 2024 (determination)...
An executive at the Institute of Public Accountants has suggested that a discussion around the need for gender quotas...
An SMSF can retain its Australian compliance if a member is overseas for an extended period if an enduring power of...
The portfolio administration and compliance software has added a new bank account verification feature to reduce the...
More female advisers are needed in the private wealth sector to support the inflow of wealth to female clients,...
The SMSF Association CEO says there are “growing concerns” among senators about the unintended consequences of...
Professional bodies have taken aim at comments by the assistant treasurer that practitioners and associations were...
The taxation of unrealised gains and forced sale of illiquid assets are the top concerns that a group of independent...
A technical expert has cited a recent ATO private ruling to highlight the interaction between the timing of an...
In light of recent changes to the professional and ethical obligations of tax practitioners, it is important for...
SMSFs should consider diversification into private credit investments as the cost of living continues to rise, says an...