Huge spike in early super withdrawals for new financial year
Miranda Brownlee
ATO figures indicate that early super withdrawals have seen a $7.1 billion spike since 1 July, and will soon surpass the Treasury’s initia
ATO figures indicate that early super withdrawals have seen a $7.1 billion spike since 1 July, and will soon surpass the Treasury’s initia
Consumers receiving financial advice have reported less detriment to their mental and physical wellbeing through the COVID-19 crisis compare
With the ATO increasing its scrutiny of individuals looking to set up SMSFs in light of the COVID-19 crisis, there have been some processing
A recent decision by the NSW Supreme Court has highlighted the importance of having original executed copies of all constituent trust docume
With the ATO expressing concerns about fraudulent withdrawals being made by SMSFs under the early release of super scheme, an SMSF specialis
While the majority of Australians plan to manage the financial impact of COVID-19 by reducing their spending, over a quarter plan to access
MSF professionals will need to re-determine their clients’ ability to make non-concessional contributions by calculating their total super
In light of ASIC’s concerns about separately managed accounts limiting consumers to cookie-cutter advice, adviser platform WealthO2 has la
With recent statistics indicating that more than half of tax agents in the SMSF sector are servicing fewer than six funds, regulators will n
The ATO has responded to a review by the Inspector-General of Taxation investigating how the administrative strain with handling tax matters
It’s likely the government will delay its response to the Retirement Income Review until the federal budget given the economic impact of
The Reserve Bank Board have has announced its decision on the cash rate for July as the new financial year kicks off.
The Federal Circuit Court of Australia has ordered the wind-up of an SMSF in a family law case involving missing superannuation money and ba
With the second tranche of the early release of super scheme now open, the prudential regulator expects that a high volume of applications w
The investment market falls resulting from COVID-19 are likely to see a greater number of SMSFs with defined benefit pensions experiencing s
The SMSF Association’s head of technical will retire at the end of September after four years in the role and an extensive career in the f
Advisers planning to use the three-month extension for CPD announced by FASEA have been told that record keeping will be vital to avoid hour
The prudential regulator has imposed a new licence condition on Suncorp Portfolio Services Limited and Colonial First State Investments Limi
The ATO has highlighted some of the new measures and changes to be aware of when completing tax returns for clients this year.
With the second round of early release of super payments now available, SMSF professionals have been cautioned that clients will need to rea
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