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In an appearance before the Senate Economics Legislative Committee last week, the Tax Institute recommended the...
A recent private binding ruling has further highlighted the conditions that need to be met to claim interdependency in...
The ATO is advising SMSF trustees about a change to its SMS alerts that aims to prevent scam and phishing...
It may only be April, but while we are distracted with the upcoming federal budget and the May lodgment date, the end...
It can be difficult but not impossible to prove dealings are consistent with arm’s length terms, as a recent court...
A recent AAT decision confirmed the ATO’s ruling on the timing of concessional contributions for tax purposes, says a...
The SMSF Association said it does not support the introduction of a performance test for...
Buying a property in an SMSF can be a great investment strategy to generate long-term retirement wealth, but it is...
The Financial Advice Association Australia has argued strongly against the implementation of the CSLR, calling the...
While contribution reserving can be used to maximise a tax deduction, it can also be useful for handling work test...
The fund manager has announced a new range of funds that financial advisers can take advantage of gearing for their...
The key super thresholds that will apply for the 2024–25 financial year include a number of changes, as well as some...
Responding to the Senate inquiry on the measures to reduce the tax concessions for super balances above $3 million, CA...
The software firm has announced an integration with Sydney-based wealthtech firm HeirWealth.
Following a two-week delay, the Federal Court has approved the $16 million class action settlement.
The Tax Office says tax and super professionals play a key role in helping address illegal early access to...
An incorrect valuation of fund assets could lead to an incorrect value for pensions, warns a senior adviser.
SMSFs may no longer be prepared to invest in illiquid assets such as start-ups if the super tax legislation is passed...
The importance of supplying a Notice of Intention in relation to cashing out superannuation was highlighted in a recent...
Personal deductible contributions must be made before the age of 67 to avoid the work test, says a technical...
The number of Class accounts has grown 3 per cent, with HUB24 also reporting a boost in adviser numbers.
A recent tribunal decision regarding non-arm’s length income is unlikely to apply to private lending arrangements...
Advisers are bracing for the Compensation Scheme of Last Resort levy while Jones has hit the campaign trail and...
The corporate regulator has announced it will have an interim chief executive amid an executive leadership...
SMSF trustees who want to undertake property development need to be aware of the compliance and tax issues on which the...
ASIC has filed civil proceedings against three blockchain mining companies and their sole...
The asset protection strategy, often referred to as a 'gift and loan back' arrangement (and various iterations of it),...
It’s important advisers consider who qualifies as a spouse early in their client interactions, especially when...
A trust instrument with a variation power that is considered too narrow to achieve wider objectives can be difficult to...
With the NALI/E bill now passed through both houses of Parliament, SMSFs need to take some crucial steps in accounting...
Advisers should be mindful of the non-concessional caps and total super balance threshold changes when recommending...
Loans to unrelated or related parties must satisfy the prudent person test, says an SMSF legal...
Correct pension documentation is equally important as death benefit nomination in an SMSF, says a financial...
Solving the in-house asset (IHA) compliance maze is complex due to the legislation that applies to IHA...
Contribution reserving provides an opportunity for SMSF trustees to optimise their contributions and tax positions,...
In the event of a dispute over the contents of a will, Family Provision Applications involve many ancillary issues and...
A large concessional contribution this year could be useful in dealing with a one-off capital gain or significant...
Calculating the tax payable on a defined benefit fund under the new proposed $3 million super tax will require more...
A senior ombudsman from AFCA has cautioned advisers to “tread with caution” when applying the wholesale test to...
The JAWG has said there is still time to fix the first QAR bill – but the government needs to move...
The recent ATO communication about SMSF valuation compliance should be viewed as a warning that the regulator will be...
Another private binding ruling has been issued, clarifying the distinction between a member benefit and a death...
If an SMSF is notified of penalties for contraventions, it’s best practice to go straight to the ATO’s law...
Australia’s superannuation system has seen a number of significant changes in recent years....
Without a clear change of trustee provisions in a deed, section 6 of the Trustee Act 1925 (NSW) must be relied upon and...
A recent private binding ruling highlighted that if an SMSF member resides overseas for some time, their fund must...
The ATO has reminded SMSF trustees that funds that do not meet their release authority obligations may incur...
The $3 million super tax legislation intends to change the calculation of the total super balance for a defined benefit...
Leaving superannuation in the superannuation environment for as long as possible is likely to produce a more tax...
The Senate Economics Legislation Committee said it is “encouraged” by the overwhelming amount of support garnered...
The recent decision in Kirk as trustee of the Property of Smith (a Bankrupt) v Smith [2024] FCA 240 provides a timely...
There is growing support from the Senate crossbench for the government to rethink its plans to tax unrealised gains in...
There is no relief for SMSFs for specific expenses which will be subject to the usual NALI rules in section 295-550...
A new SMSF investment solution is now available for the growing Islamic community in...
Changes to the Small Business Super Clearing House data integrity standards may impact the ability of some people to...
Regulation 7.04 in the SIS Act is important in determining which members of an SMSF can receive contributions and what...
Nearly 34 per cent of all reported SMSF contraventions indicate trustees may have inappropriately accessed their...
The SMSF Association said the government needs to carefully consider funding arrangements before implementing reforms...
A recent Federal Court ruling has found that the transfer of super from a husband to his wife’s superannuation...
The audit profession is facing major challenges in attracting and retaining qualified staff, according to a new...
The government has introduced a bill to Parliament to legislate the first stream of the QAR reforms.
To access financial hardship provisions, a member must be on financial benefits for at least 26 weeks of the year if...
We are introducing a new feature on our website to ensure we meet the needs of our audience and offer the most...
More than 16,500 SMSFs are being scrutinised by the ATO as they allegedly reported certain classes of assets at the...
A leading auditor suggests that instead of introducing the $3 million super tax, the government has two alternative...
The SMSF Association was working until the final bell gathering support to overhaul the government’s proposed $3...
Although the Centrelink age for a pension is 67, SMSF members can access their super from age 65, says an...
A comprehensive power of variation is one of the most important aspects of any trust deed, says a leading legal...
There are three tests to determine whether non-arm’s length income has been incurred in an SMSF, says a specialist...
Parents of a deceased person may not qualify for interdependency relationship regarding superannuation death benefits...
The SMSF Association said it was disappointing to see the introduction of some statements that perpetuate myths and...
A recent decision of the NSW Civil and Administrative Tribunal (NCAT) shows a “deed of rectification” to vary a...
Younger SMSF members should not “squander” any chances of boosting their superannuation balances before the $3...
It’s that time of the year. Self-managed superannuation fund trustees that are using an accountant, and are not...
The SMSF Association said it is “extremely concerning” that financial advisers are being asked to fund compensation...
The CSLR will hit advisers for almost $1,200 to cover 1 July 2024 to 30 June 2025, but this figure could...
SMSF Adviser is now accepting nominations and submissions from SMSF professionals for this year’s awards, now in its...
ASIC has permanently banned a Queensland-based financial adviser who recommended six SMSF clients invest their super...
More SMSF trustees are seeking financial advice due to the uncertain market conditions of 2023, according to a leading...
As the saying goes: nothing is certain except death and taxes. When it comes to death and the main...
The question is whether to restructure in an attempt to reduce your tax bills or those of your future...
Changes to the Transfer Balance Account Reporting (TBAR) regime are set to take effect on 1 July this year. These...
SuperConcepts releases quarterly SMSF Investment Patterns Survey analysing the investments of over 4,400 funds,...
The demand for quality accounting staff is significantly outstripping supply but, what can we do to facilitate...
Self-managed super funds exist to provide their members with a high degree of control over their retirement savings....
Promoted SuperConcepts
Promoted by SuperConcepts Tight new Director ID changes are now in place and failure to comply could soon result in...
Promoted by SuperConcepts The ATO's ruling on non-arm’s length expenditure has been an area of great debate...
Promoted by SuperConcepts
Promoted by SuperConcepts What happens to your SMSF once you are gone? Death benefit nominations ensure that...
Promoted by SuperConcepts The flexibility of self-managing your superannuation comes with a myriad of key...
Promoted by SuperConcepts Last month, Prime Minister Scott Morrison announced a reshuffle of the cabinet which...
The Administrative Appeals Tribunal has refused an application by the director of an SMSF administration firm to halt...
A recently established fintech company plans to launch a digital advice platform for SMSF advice that is targeted at...
