SMSF
ASIC’s SMSF fact sheet criticised over inconsistencies
The SMSF Association has criticised the corporate regulator’s focus on the risks of SMSFs in its mailout campaign targeting new trustees, saying the data sources used i...
Professional, personal distinction key in NALI changes
Recent changes to non-arm’s length expense rules are an overreach, given the objective the laws are trying to achieve, but are unlikely to affect most trustees providin...
ASIC flags concerns with inappropriate SMSF set-up
ASIC has expressed concern that a growing number of investors are setting up SMSFs when they are inappropriate for their circumstances, with the volume of assets in self-...
ATO marks 20-year milestone
The Australian Taxation Office (ATO) has provided an overview of compliance activities it has embarked on to coincide with its 20-year anniversary as a regulator of sel...
SMSF professionals at risk from investment strategy advice
SMSF professionals, including accountants and auditors, could put themselves at risk if they provide any type of advice around a trustee’s investment strategy without a...
Accountants given transitional relief on general NALI expenses
The ATO has confirmed it will not enforce new rules around trustees providing accounting and other services to their own SMSF until the 2021 financial year.
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ATO clarifies application of NALI changes
The ATO has released a draft companion ruling to further clarify the application of new non-arm’s length expense rules that are soon to become law, revealing that finan...
Self-funding disincentives should be high on retirement probe’s list
A retirement policy advocacy group has highlighted the disincentives that exist in the government’s current system to self-fund a comfortable retirement, suggesting thi...
ATO opens applications for SG exemption
High-income-earning SMSF trustees with multiple employers will be able to apply from mid-October to gain exemptions from super guarantee contributions, according to the A...
Tax Office avoids big stick with lodgement rules
The ATO is going easy on late-lodging SMSFs by suspending their details on Super Fund Lookup rather than the “big stick” approach of a $10,000 penalty, according to A...
SMSF trustees look beyond planners
Increasing numbers of SMSF trustees are looking beyond financial planners for advice around their self-managed fund, according to Investment Trends data.
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Parliament passes new SMSF measures
The government’s further restrictions to non-arm’s length income and LRBAs have passed Parliament, meaning SMSF trustees approaching retirement with an outstanding lo...
