ATO updates SuperStream enabling and release authority instructions
Tony Zhang
The ATO has made an update on the need for SMSFs to be SuperStream-enabled, with additional instructions on how to manage release authoritie
The ATO has made an update on the need for SMSFs to be SuperStream-enabled, with additional instructions on how to manage release authoritie
On 22 June 2020, the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 (Cth)) received royal assent, which intr
With the recent release of draft amendments on how contributions will interact with non-arm’s length provisions, there are concerns that t
SMSFs making valuations of private company shares and trusts will need to ensure early preparation to meet any arising difficulties and cost
It's safe to say that the SMSF industry was never going to sanction LCR 2021/2 ("the LCR") in any form. But as it is now law, we have to m
Due to the ongoing impacts of COVID-19, the ATO has extended its compliance support on PAYG instalment variations for SMSFs.
Whilst good records can enable SMSFs to manage contributions in order, unexpected circumstances and timing changes can cause funds to face a
The ATO has recently received a high volume of manual verification requests through the SMSF verification service (SVS) system, which has ca
With BDBNs a significant part of SMSFs death benefit strategy, practitioners will need to consider changing factors impacting the setup of a
The incoming implementation of the director identification number will become an important part of the SMSF landscape as new processes will
When an SMSF pays out a limited recourse borrowing arrangement (LRBA), funds will need to ensure it can take the correct steps in the afterm
Since 1 October 2021, new reporting obligations have been implemented for AFS licensees, which will require advisers to navigate several com
With the new SuperStream requirements in place, SMSFs making rollovers can face challenges to meet the new timeframes when considering repor
The Australian Taxation Office has addressed several technical issues which had emerged close to the SuperStream start date that had previou
With the changes to the number of members allowed in an SMSF, funds considering adding members can consider various structural differences t
SMSFs that plan on making benefit payments through the new SuperStream requirements will need to factor in changes to the timing process to
With the SuperStream requirements now in place, the Australian Taxation Office (ATO) has updated the register, which lists self-managed supe
SMSFs should not completely ignore a retirement income strategy despite being carved out of the new obligations being imposed on superannuat
SMSFs investing in unlisted companies can commonly face traps that aren’t as straightforward compared to standard investments, requiring t
SMSFs that have made an error in personal contributions will need to ensure they can prepare early to avoid unnecessary impacts on the fund
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