SMSF industry gears up for federal election result
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With both major parties announcing policies for tax and superannuation, the outcome of the election this weekend will be significant for SMS
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CA ANZ launches campaign against Labor’s tax affairs cap
Chartered Accountants Australia and New Zealand has drafted letter for accountants to distribute to their clients which outlines the major i
SMSF investors told not to panic about election result
While the election result may trigger some short-term volatility, it’s unlikely to cause major disruptions to markets in the long term, sa
SMSFs to be hit with higher admin penalties under Labor
Labor has outlined in its costings that it will increase penalty units from $210 to $300, which would result in SMSF trustees receiving high
ATO figures show jump in starting balances for SMSFs
The ATO’s statistical overview of SMSFs for the 2016–17 financial year indicates that funds that were established that year had assets o
Contribution strategies outlined in lead-up to EOFY
With the end of the financial year now approaching, advisers should be flagging contribution strategies for clients including deductions for
Grandfathering under Labor’s LRBA ban ‘unpredictable’, SMSFs warned
If Labor wins the election and legislates its ban on SMSF loans, it may be difficult to determine which related-party loans will be grandfat
ASIC takes action on 58 licence holders over dual authorisation
Following a review by ASIC, 58 AFS licensees, who were in breach of the law because they were also authorised representatives of other AFS l
BGL adds new SMSF loan application feature
SMSF software firm BGL has announced a new integration that will enable clients to determine their borrowing ability and to electronically
SMSF lodgements at 60% as deadline looms
While the lodgement rate for SMSFs for the 2017–18 financial year has improved from where it was the previous year, recent ATO figures fro
Industry group lobbies for changes to franking credit policy
An industry lobby group has told Labor that if its franking credit policy is intended to apply so that only those with a tax liability recei
IPA tells Labor to come clean on accounting service fees
The figures on accounting fees provided by Labor in justifying its managing tax affairs cap are misleading and only based on a very small sa
Labor’s franking credit, super policies to raise $88bn
Labor estimates that its proposed changes to dividend imputation and superannuation concessions will collectively generate an additional $88
SuperConcepts CEO announces leadership restructure
SuperConcepts chief executive Lara Bourguignon has announced a raft of changes to the SuperConcepts leadership team including a number of ne
ATO urges SMSFs to prepare for ‘protecting your super’ changes
With APRA-regulated funds required to start reporting and transferring inactive low-balance accounts to the ATO by 31 October, SMSF trustees
Leaders clash over contributions for self-employed in final debate
In the final debate before the election, Prime Minister Scott Morrison has questioned Bill Shorten about Labor’s plans to change the polic
Industry super fund pays penalty notice for misleading claims
An industry super fund has paid a $12,600 infringement notice penalty after it allegedly made misleading claims about offering independent a
Election result to impact equity allocations, advice firm predicts
With the two major political parties planning to implement policies across the energy, healthcare, financial and retail sectors, some SMSF i
Accounting industry ‘already subsidised’: Labor defends childcare proposals
Opposition Leader Bill Shorten has defended Labor’s plans to lift the wages of childcare workers through government subsidies, stating tha
PM talks superannuation promises as election draws nearer
Prime Minister Scott Morrison has reaffirmed his party’s promise to not increase taxes in superannuation, and has hit out at Labor’s pol
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