SMSF
Labor’s $75k pension exemption limit flagged as a possibility
Labor’s proposal to cap the pension exemption at $75,000 per year could still be a possibility despite the transfer balance cap now in place, a law firm has warned.
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Tax consequences for SMSFs tipped with budget repair levy
Labor’s plans to reinstate a budget repair levy of 2 per cent could trigger some taxation consequences with SMSFs, warns a law firm.
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Bill containing super measures, SG amnesty lapse as time runs out
With no more sitting days left for the Senate before the election is called, the bill containing the SG amnesty, SG opt-out measure, and amendments to the non-arm’s len...
Super contribution reform measures announced ahead of budget
New superannuation measures which will enable Australians aged 65 and 66 to be able to make voluntary superannuation contributions has been announced by the Treasurer.
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6-member SMSF bill receives Senate committee endorsement
A parliamentary committee has recommended that six member SMSFs be allowed, despite strong opposition to the proposed measure from Labor senators.
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ATO points to market ‘gap’ after accountants exemption ditched
Dumping the accountants exemption has created a hole in the market for Australians who have simple advice needs, the ATO said.
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Industry lawyer warns on expiry of ATO rulings on low-interest loans
SMSF trustees who previously obtained private binding rulings from the ATO for related party borrowings on non-commercial terms have been warned to check what financial y...
Trust slip-ups flagged for private clients
Clients with self-managed superannuation funds should be wary of SIS Act breaches that are crossing the desks of some technical experts.
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Auditors disqualified, suspended in misconduct crackdown
ASIC has disqualified, suspended or added conditions to the registration of a number of SMSF auditors following concerns about audit quality, independence issues and fail...
ATO rolls out campaign to crackdown on SMSF auditor number misuse
The Tax Office will now provide all SMSF auditors with a list of funds that reported their auditor numbers on annual returns in a bid to weed out tax agents and trustees ...
Government called to increase incentives in super
A national accounting network has called on the government to double the current concessional contribution cap and consider introducing pooled thresholds and limits for s...
ATO set to contact SMSF clients over focus areas
With LRBAs and TBAR two of the major focus areas for the ATO this year, the Tax Office has announced plans to contact trustees with high concentration risk in their funds...
