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The stringent conditions that apply to a death benefit dependent have again been highlighted in a recent private...
The ATO has confirmed the 1 July 2018 start date for general and specific NALE, a leading legal specialist has...
The ATO has issued guidance on the recent changes that will allow individuals to exit certain legacy retirement...
More than half of Australians said that contributing to their super and saving enough money for retirement was a major...
The ATO has released guidelines for individuals wanting to apply for Compassionate Release of Super (CRS) for an...
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Tim Miller, SMSF technical and...
It seems the government is still determined to push through its controversial super tax legislation, according to its...
A recent decision provides further lessons regarding trust instruments with no power or inadequate power to...
It’s important for SMSF trustees and professionals to know the difference between part A and part B qualifications,...
SMSF members currently in receipt of an asset test-exempt income stream will not incur a debt if they choose to commute...
The definition of ‘business real property’ is vital if an SMSF owns primary production property and earns extra...
If an SMSF breaches section 85 of the Superannuation Industry (Supervision) Act, anyone who was involved with the...
The Financial Services and Credit Panel has handed down a written reprimand to an adviser that it said provided...
The FAAA has said the current lack of standardisation on the advice fee consent process has made it an “inefficient...
To prevent delays in the SMSF audit process, accountants need to get financial statements basics basics correct, a...
Rent from an overseas property is not allowed to be deposited into a foreign bank account per the in-house asset rules,...
ASIC is encouraging auditors to self-identify and self-report noncompliance as part of its project focusing on...
As an early Christmas present and unexpected result for the Industry, Treasury Laws Amendment (Legacy Retirement...
Christmas is a time for giving, but providing financial assistance to family or friends should not come at the expense...
The FAAA has taken aim at the corporate regulator in its submission to the Dixon inquiry, calling its investigation...
SMSFs are placing themselves at capital risk by adopting a high-growth strategy that aims for high returns over the...
When it comes to getting the most out of an SMSF, focusing on smart investment opportunities and tax strategies is key....
The new legacy pension regulations are a “game changer” but there are still some elements SMSF trustees need to be...
An ongoing case before the courts has highlighted the issue of “informal wills”, a top legal specialist has said....
SMSFs should first consider whether a property constitutes business real property when buying from a related party, a...
The government’s decision to disentangle legacy pension regulations from the $3 million super tax legislation is a...
Another private binding ruling has consolidated the difference between a member benefit and a death benefit and the...
The Reserve Bank of Australia has announced another rate hold amid stubborn inflation and faltering economic...
SMSFs are vulnerable to manipulation due to their lack of regulatory oversight, according to a report on financial...
The way SMSFs are being singled out as part of the inquiry into the collapse of wealth management companies is not a...
The SMSF victims of Melissa Caddick have reached an in-principle settlement in a class action against the auditors...
A uniform tax on earnings across all accumulation and retirement accounts is one of the reforms suggested by the...
An ATO assistant commissioner has warned that tax agents and SMSF auditors should be aware that a disqualification as...
The demand for financial advice has reached record highs, especially regarding retirement income, according to the...
The ATO has clarified how a contribution can trigger non-arm’s length income in its latest draft taxation ruling on...
The complexity of the proposed payday super (PDS) legislation due to commence from 1 July 2026 could see many small- to...
SMSF trustees looking at investing with the big four banks should be cautious as other credit institutions enter the...
Buried underneath the chaotic legislative whirlwind in the last week of November was updated ATO advice on NALI...
While there has been a generally positive response to the release of the second tranche of DBFO reforms, industry...
The most recent decision in a continuing legal battle has shown the importance of retaining the trust deed of trusts...
Financial advisers should undertake reasonable investigations of investment options to detect underperformance, ASIC...
Following a whirlwind of legislative activity in the last few days of the parliamentary sitting calendar for the year,...
Although the SMSF Association has said the framework outlined in the second tranche of the government’s Delivering...
This article is part of a series on SMSF succession planning. In part 2, we explored the important role of binding...
A motion to split the Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023...
Unlike multi-member funds, single-member funds have three trustee options available, a leading SMSF educator has...
The ATO has reminded trustees that some SMSFs will need to lodge their SMSF annual return (SAR) by 28 February...
A simple test at the end of each financial year can help determine if an SMSF has any disregarded small fund assets, an...
SMSF landholders in Victoria need to be aware of their obligations under the new Short Stay Levy Act 2024, a legal...
New research has revealed that more than half of Australians would forgo making extra superannuation contributions as...
The temporary shelving of the $3 million super tax legislation has been met with cautious optimism from the SMSF...
The passing of the Objective of Superannuation bill last week is about more than enshrining or making sure preservation...
The ATO has issued updated information on the recent amendments to section 295-550 of the Income Tax Assessment Act...
The Federal Court has ordered the director of a property development company that promoted the use of SMSFs for...
Trustees should reconsider every three years whether an SMSF is still the correct retirement strategy for their needs...
Experts have advised that SMSFs looking to invest in cryptocurrencies must ensure the investment aligns with the...
The government’s plan to increase the tax on superannuation balances over $3 million has officially been abandoned,...
Low-cost auditors are putting SMSF trustees at risk, two of the sector’s leading practitioners have...
The CSLR has said 80 per cent of claims so far have related to personal financial advice, with the vast majority...
Assets in the SMSF sector have surpassed the $1 trillion mark for the first time, underscoring the confidence in the...
To borrow and slightly misquote former British Prime Minister Harold Wilson, 24 hours is a long time in politics....
The four conditions of release for insurance policies covering death, total and permanent disability, temporary...
The Senate’s inquiry into the collapse of Dixon Advisory and the minister’s special levy discretion has seen a...
The ATO is reminding SMSF trustees that if they have had transfer balance account events in the last quarter they must...
The controversial $3 million super tax legislation may be off the table for the time being but the industry is not out...
Although it is a principle of Australian superannuation that funds must have liquidity to manage prospective...
More women than men entered into SMSFs in the September quarter, according to the latest ATO...
Although the Better Targeted Superannuation Concessions Bill is again not listed for debate this week in the Senate, it...
Before taking out death benefit insurance in an SMSF, trustees need to consider whether it will ultimately be...
The new pension reforms will see allocations to member accounts from surplus amounts treated as non-concessional...
APRA should release the data it has collected since 2021 on account-based pension investment returns now, says one of...
Most SMSFs pay tax or receive a refund once a year when they lodge their annual return. But some people are charged...
For SMSF clients wanting to claim a larger tax deduction as a result of TD2024/7, there is some urgency if they are...
The IFPA has thrown its support behind a grassroots campaign to educate Australians about the impacts of the proposed...
ASFA has urged the federal government to develop a national retirement income strategy to guide the primary purpose of...
Better retirement products, increased transparency and best practice principles are part of the superannuation reforms...
SMSF trustees can choose to deduct amounts under section 295-470 based on the fund's future liability to pay the...
Acquiring a second limited recourse borrowing arrangement for a property could breach the single acquirable asset...
Treasurer Jim Chalmers has said at a press conference on Monday he will be making an announcement today on...
When establishing a reversionary market-linked pension, SMSF members have the option of setting it up based on the...
There is a continued push to look at reforming the legislated definition of ‘child’ regarding superannuation law,...
***Updated*** The Minister says super funds should already have sufficient liquidity to meet existing or prospective...
A recent court case is a stark reminder for advisers of the importance of maintaining an original documents register, a...
SMSF trustees should be aware of the consequences of using legal documents obtained from non-qualified suppliers, warns...
Most Australian retirees and pre-retirees do not have a strong understanding of Division 296 and its implications for...
Withdrawals and contributions can effectively implement a recontribution strategy if an asset sale is impractical, an...
SMSF investment in a private company can be difficult due to compliance rules but it is possible, a legal specialist...
SMSF Adviser and principal partner Mortgage Choice are proud to announce 30 winners for the annual Women in Finance...
Without fanfare or prior notice, the Albanese Government has initiated legacy pension reform.
The Better Targeted Super Concessions Bill has not been scheduled for debate in the Senate next week, creating doubt as...
A parent who cared for their ill adult child has not been deemed a death benefit dependent in a private binding...
A successor director has more strategic and practical advantages than an alternate director in an SMSF corporate...
The ATO is advising SMSF trustees not to use their funds to buy Christmas presents or pay for...
The importance of correctly allocating monies spent on rental property expenses has been highlighted in a recent...
Deciding on shareholders and the number of shareholders is just as important as appointing directors to protect estate...
There has been a dramatic increase in Australians using their SMSFs to invest in property over the past two to three...
If residential land in Victoria has been or will be vacant for more than six months in a calendar year, the property...
The severe financial risk of the proposed Division 296 tax has been highlighted by one of the sector’s best-known...
A death benefit pension does not have to come from a previous pension interest, says a leading SMSF...
Organisations must go beyond recruiting a diverse workforce and embed a culture of inclusion to reap the benefits,...
Terminal illness insurance payouts will remain unrestricted, non-preserved benefits and will be returned to a normal...
ASIC commissioner Alan Kirkland has cautioned against cold calling and inappropriate super switching, calling it the...
Even with interest rate cuts, the property investment market is likely to track sideways for a period before there is a...
The ATO is targeting SMSF auditors who continue to defy independence rules, a senior technical specialist has warned....
There are four major tools to help SMSF trustees and members resolve internal disputes, a leading legal specialist has...
The ATO has published information on why auditors may issue a qualified audit report when SMSFs use an investment...
This article is part of a series on SMSF succession planning. In Part 1, we explored the key elements of a robust SMSF...
Proposed amendments to the tax promoter penalty laws risk further thinning the line between tax advice and scheme...
A lump sum pension payment can cause an issue with pension payment standards, a specialist consultant has...
A global investment management firm executive has called for standardised promotion policies to close the “gendered...
A new private binding ruling has addressed the nuances that can determine if a withdrawal from a superannuation fund is...
Investment in ETFs is the fastest-growing category for SMSFs, the CEO of one of the sector’s biggest software...
Momentum Media has announced 26 winners across 10 individual and 15 group categories for its brand-new Australian AI...
The Federal Court has ruled against ASIC in its proceedings against Dixon Advisory director Paul Ryan, ordering the...
There is potential for “contradictory signals” regarding the transfer balance cap and the Division 296 tax if the...
A trustee needs to obtain an actuarial certificate if the “proportionate method” is used to exclude all or part of...
SMSF members and trustees could face fines of up to $19,800 for a 60-unit penalty from tomorrow, a legal expert has...
The central bank has served up a disappointment for punters on Melbourne Cup Day.
Comments made last week by Assistant Treasurer Stephen Jones about the proposed new super tax have raised some critical...
An SMSF must have an actuarial certificate to claim exempt current pension income via the proportionate method, says a...
Death benefit complaints to AFCA increased by about 30 per cent over the past year, according to its latest annual...
SMSF trustees need to make sure they're disclosing all rental income and claiming the correct rental deductions to...
Advisers should be aware of the difference between TRIS in pension and TRIS in retirement phase, says a leading...
A notice of intent to claim a deduction for a personal superannuation contribution can be impacted if it is not...
This is part 10 of our series of ‘employee versus contractor’ articles. Part 10 focuses on recently updated...
The importance of having a “commitment to a shared life” to claim interdependency has again been highlighted in a...
The ATO has issued guidance to SMSF trustees on why auditors may issue a qualified audit report when SMSFs use an...
Failure to have a proper estate plan in place may result in a reduction in wealth passed on to beneficiaries,...
SMSFs are an “integral” part of Australia’s retirement choices and the government cannot allow a “preferential...
The level of disability is an important consideration regarding disability insurance payouts in superannuation, says a...
ASIC has suspended the registration of three SMSF auditors connected to an administration provider for one...
This article is the first in a series on SMSF succession planning. In part 1, we examine the key characteristics of a...
One of the most frequent SIS Act breaches is the failure to separate fund assets from members’ personal assets, says...
There are two methods to unwind a limited recourse borrowing arrangement, but both need to be documented and executed...
SMSF industry stalwart Meg Heffron is one of three new members appointed to the SMSF Association...
Assistant Treasurer Stephen Jones has said it is a fairer outcome if the government “modestly” reduces tax...
A reversionary pension must satisfy minimum pension requirements irrespective of whether it was paid to the deceased or...
A trading account can go into a negative balance without breaching the SIS Act, but care must be taken, warns an SMSF...
The SMSF Association has urged the government to take a whole-of-government approach to consider all current and...
Insurance in an SMSF should line up with a fund’s overall investment strategy and be reviewed every 12 months, says...
Advisers need to be wary of clients constructing contrived arrangements about their retirement to gain early access to...
The ATO said it is reviewing and assessing all new SMSFs before they can receive a registered or complying status on...
The non-arm's length income provisions contained in s 295-550 of the Income Tax Assessment Act 1997 continue to be a...
Whether a pension reversion nomination conflicts with a binding death nomination is not “black and white”, says a...
Following the success of a pilot program targeting “high-volume” SMSF auditors, the ATO is preparing to roll out...
Without proposed reforms to financial advice, Australians face a chain reaction of financial uncertainty over...
The latest instalment of the (in)famous SMSF-related series of court decisions involving the Friggers has been...
In this special episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by a pair of experts on...
Inappropriate financial advice linked to SMSFs made up the majority of claims received by the Compensation Scheme of...
A recent NSW court case has questioned whether assets retained via an SMSF are still subject to attack when the estate...
The High Court in Hill v Zuda held that ‘reg 6.17A has no application to an SMSF.’ Accordingly, SMSF deeds have a...
More Australians are planning on working past 65 for either social or financial reasons, according to new research from...
Confusion over SMSF wholesale classification thresholds and advice for low-balance clients to establish SMSFs were...
Failure to create, execute, perform and retain documents for an SMSF can leave a fund and its trustees unable to...
There are still many SMSF trustees and professionals who lack an understanding of how the proposed Division 296 tax...
The SMSF Association said it is concerned about the impact of the proposed amendments to denying deductions for the...
A lump sum withdrawal from a superannuation account shortly before the death of a member but received days after death...
It is more tax effective to leave superannuation to an estate rather than a binding death benefit nomination to...
Financial advisers will be pivotal in ensuring that wealth is passed on efficiently and in a way that aligns with the...
The inheritance of a reversionary pension is a trigger event for the beneficiary’s transfer balance cap if they are...
It’s essential to “read the deed” after a member’s passing, even if a trust deed has been drafted specifically...
The SMSF Association has urged the government to allow a pension reserve to be exited where the recipient had...
Compliance breachesAcquisition of assets from a related party
The interplay between reversionary pensions and binding death benefit nominations regarding which one takes priority is...
Using a spousal contributions strategy to a second spouse can be problematic because money may not naturally flow to...
Building a network of mentors and coaches with varied skill sets could help women achieve their career goals, according...
Timing the sale of assets is critical to take advantage of tax opportunities, especially in the event of the Division...
An attorney can make or renew a superannuation binding death benefit nomination but there are a number of conditions...
The Financial Advice Association Australia said it supports the draft legislation on legacy pensions but has urged the...
The proposed Division 296 tax will see a change in the definition of total superannuation balance, says a leading...
The SMSF Adviser Technical Strategy Day kicked off on Tuesday in Brisbane in front of a room full of advisers,...
Advisers recommending SMSF clients diversify into the private market space need to consider the difference in the...
With Generations X, Z and Millennials in the early stages of a wealth transfer that will place an estimated $3.5...
A leading technical and education specialist has advised that if an SMSF exceeds the 5 per cent in-house asset limit...
Although the retirement income covenant may not be targeted at SMSFs, it is useful for helping advisers assist clients...
Leading cloud-based accounting software provider Class has launched two significant enhancements to make it easier for...
A recent court case has highlighted that SMSF assets can be protected from the trustee’s personal administration...
The term ‘reserve’ has different meanings regarding superannuation law and tax law, says a legal...
SMSFs should consider diversification into private credit, which offers an attractive income stream and capital...
In this six-part series on the decision of In the matter of Gainer Associates Pty Limited [2024] NSWSC 1138, we’ll...
Is near enough good enough when valuing SMSF assets at market value?
The fight to amend the controversial Division 296 tax passed through the lower house on Wednesday is not over, says an...
Assistant Treasurer Stephen Jones has claimed it is “simply not true” that unrealised capital gains are not taxed...
Some assets within an SMSF are “so obscure” that it is difficult to get a valuation, says a leading legal...
The SMSF Association has urged the Senate to reject legislation that would inflict a higher tax rate on the earnings of...
Some SMSF members can use six years of unused concessional caps in the current year, says an industry...
SMSFs should do property title searches each year and obtain an annual market valuation, according to an industry...
The Australian Financial Complaints Authority has launched a consultation on its approach to superannuation death...
The amendment put forward by the SMSF Association regarding the $3 million super tax has been defeated in the lower...
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Julie Steed, senior technical...
The latest ATO quarterly statistics have shown strong growth in the number of SMSFs and growth driven by Generation X...
The complexities surrounding market valuations will mean more onerous obligations and responsibilities for all SMSF...
The SMSF Association stated in a recent submission to the Senate standing committee on economics that SMSF ownership of...
AI is entering the SMSF administration landscape with the launch of a new company founded by an Australian...
A death benefit paid to a charity will be treated as assessable income, according to a recent private binding...
“Good pension paperwork” is essential when electing for a reversionary pension, says a legal...
The Australian government should phase out tax breaks from superannuation and capital gains, according to the latest...
Young Australians are increasingly concerned about retirement security and are turning to SMSFs as a solution,...
There has been a 50 per cent rise in cryptocurrency investment in the SMSF sector, according to a new...
The legacy of the royal commission continues to haunt Australia’s financial services sector, which now faces an...
SMSF members often look to do this by renovating, repairing or making improvements to their SMSF property.
A change in the work test rules has meant that recontribution strategies are easier to use more frequently, says an...
It’s important to distinguish between the rules around legacy pensions and the ability to commute them with the...
Trust in financial advisers is at an all-time high, according to a new report from the Financial Advice Association...
Timing is crucial to maximising exempt current pension income when restructuring investments as fund members approach...
Establishing a superannuation fund for grandchildren is possible in Australia but there are some caveats to be aware...
SMSFs are turning towards gold and other precious metals as a more stable wealth preservation asset than traditional...
All SMSF trustees must appoint an approved auditor to audit the operations of their fund each year. This annual audit...
The passage of the controversial $3 million super tax legislation seems unlikely before the end of the year, says the...
Industry funds are seeing a significant increase in transfers to SMSFs, according to new data....
A technical expert has outlined the benefits and drawbacks of integrating SMSFs into the RIC, suggesting that it may be...
ASIC has taken action against the registration of 13 approved SMSF auditors during the first half of...
Accountants and advisers need to explain to clients with blended families how death benefit payments may be impacted...
Private wealth advisers are under increasing scrutiny by the ATO, says a leading legal...
The shadow treasurer and shadow finance minister have urged their Labor counterparts to formally abandon the...
The definition of arm’s length dealings is not as straightforward as it seems, a technical expert has...
A recent private binding ruling (1052284933968) has again highlighted the ATO’s tough stance on the issue of personal...
Any changes to the negative gearing rules won’t impact the majority of SMSFs, says a leading industry...
The ATO’s June quarterly statistical data on the SMSF sector has been released and has revealed continued...
The Commissioner of Taxation doesn't have the discretion to overlook even a single missed step made in claiming a tax...
Only 1 per cent of SMSFs are using a strategy that creates space in their transfer balance cap and opens up the...
The ATO has released its final determination regarding the tax deductibility of advice...
Both the Treasurer and the Prime Minister have confirmed that Treasury is exploring changes to the contentious...
The government has released a draft amendment clarifying its expectations on how sections 15 and 45 of the...
The second tranche of the Quality of Advice Review will be high on the agenda of the SMSF sector, says an industry...
The tribunal has rejected a taxpayer’s argument that he could choose when to carry forward his unused concessional...
One of Australia’s peak superannuation industry bodies has called for the retirement income sector to work together...
In the decision In the matter of Gainer Associates Pty Limited [2024] NSWSC 1138, the court advised that the SMSF...
There are a lot of big issues to consider for an SMSF looking to invest in a tiny home, says a technical...
A petition has been launched urging the government to amend current SMSF rules to allow members to use their funds to...
ASIC has extended the reportable situations relief and personal advice record-keeping requirements on the same terms...
The central bank has announced its latest rate decision following a month of heightened speculation.
As a lawyer, I do a substantial amount of work advising and representing approved SMSF auditors who are being...
Bigger isn’t always better when it comes to the size of an SMSF, says a specialist...
As retirement approaches, it's essential to strategically reduce debt while maximising wealth growth efficiently to...
A Western Australian woman has been sentenced to three years’ imprisonment for illegally submitting fraudulent...
SMSF advisers are in the running to win one of the coveted Women in Finance Awards...
A superannuation death benefit paid to a deceased estate will not be treated as if it was paid to a death benefit...
In times of market volatility, gold has traditionally been a safe haven for...
The cost-of-living crisis and the change to the work test are impacting non-concessional contributions, according to...
The ATO has updated its publications and online education modules to help trustees navigate the various stages of their...
The ability of beneficiaries to access the records of a discretionary trust is becoming one of the key trust-related...
Data collection and cyber security will become more important as the SMSF sector continues to grow, according to...
The ATO has reminded SMSF trustees that if they have made any transfer balance account events in the last quarter, a...
Perimenopause and menopause training founder and TV journalist Shelly Horton has hit back at calls for businesses to...
The latest episode in Rupert Murdoch’s succession plan has all the expected plot development techniques.
There has been an overwhelmingly positive response from the SMSF sector to the draft regulations for Treasury Laws...
SMSF establishments are expected to exceed 30,000 for FY24 – the first time since the transfer balance cap was...
The recently released exposure draft of Treasury Laws Amendment Instrument 2024 – SMSFs – legacy retirement product...
Big four accounting firms EY, PwC and several other accounting firms have been selected as finalists at the inaugural...
In the decision In the matter of Gainer Associates Pty Limited [2024] NSWSC 1138, the court, among other things,...
Over 70 per cent of SMSFs are not benefiting from access to professional financial advice, according to a new...
A recent case before the NSW Supreme Court has highlighted the importance of transferring all assets to a new trustee...
SMSFs with a small business should check their CGT concessions each year, says an industry...
The number of people taking up downsizer contributions has dropped from a high in the 2021–22 financial year – the...
The government has released the long-awaited draft regulations aimed at giving individuals the option to exit certain...
A common question for members planning multiple pension streams is whether to exceed the transfer balance cap or stay...
When it comes to paying out death benefits, there is no such thing as too much documentation, says a leading SMSF...
A new report has revealed there is a stark disconnect between the income sources pre-retirees expect to rely on and the...
The proposed $3 million super tax legislation was put on hold again last week, and the sector now has to wait until the...
Even a small bank overdraft is considered a breach of section 67 of the Superannuation Industry (Supervision) Act, says...
An inherited residence can attract CGT, highlighting the need for proper estate planning so beneficiaries aren’t...
A recent court decision has examined the role of trustee discretion and death benefit...
Two new courses are now available for advice professionals to meet the legislated requirements to remain in the...
The principal partner of this year’s Women in Finance Summit has said organisations that practise inclusivity are...
In the decision of In the matter of Gainer Associates Pty Limited [2024] NSWSC 1138, the court, among other things,...
The Superannuation (Objective) Bill, which was to be finalised this week in the Senate, was sidelined on Tuesday (10...
Despite the unsuccessful disallowance motion regarding the tax practitioners’ code of conduct in the Senate on...
The new NALI legislation is “unfair” because it lacks any provision that allows the tax commissioner to overlook...
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Peter Johnson, director of...
An SMSF with vacant land cannot claim holding costs, warns a legal...
Asset valuation must be objective, and supportable data should be provided, says a leading audit...
ASIC will, in the coming months, announce the results of its surveillance into how superannuation funds are handling...
The effective use of technology is driving best practices, enabling financial professionals to scale their businesses,...
A motion to disallow the code changes for Tax Agents has failed to succeed in the vote held in the Senate...
The application of regulation 8.02(b) and compliance in relation to the 2025 end-of-year valuations will be the...
The number of SMSF auditors referred by the ATO to ASIC has risen slightly in the 2023–24 financial...
Further consultation is required over ongoing concerns with the Tax Agent Services (Code of Professional Conduct)...
A recent private binding ruling has clarified that if a notice of intent to claim a deduction for contributions has not...
Even if dealing with younger clients, advisers should be asking end-of-life questions to ensure SMSF deeds cover all...
As SMSFs prepare to lodge their returns, it is the perfect time to review the fund’s investment strategy, says an...
Accounting bodies have published an open letter ahead of today’s (6 September) roundtable with the Assistant...
An Australia-based asset management company has joined the conference as a gold...
Former Melbourne financial planner Bradley Grimm was sentenced to 18 months in jail with nine months served for...
The controversial $3 million super tax bill is due to be debated again in Parliament next Thursday (12...
The ATO has released its decision impact statement on Merchant and Commissioner of Taxation [2024] AATA 1102, stating...
A senior SMSF auditing specialist has warned that AI is moving into uncharted territory that will continue to affect...
Ahead of her keynote address at the Women in Finance Summit 2024, Ella Baché CEO Pippa Hallas has outlined how her...
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Matthew Burgess, director of...
There will always be debate about whether it is best for an SMSF to have an individual or a corporate trustee, says an...
It is better to have death benefits paid directly to an intended beneficiary rather than indirectly via the estate of a...
The ATO is reminding trustees to make sure their return is completed in its entirety, including SMSF auditor details;...
Non-arm’s length income (NALI) applies a 45 per cent tax to both ordinary and statutory income of a superannuation...
The latest concessions offered by the Assistant Treasurer in regard to the code changes “are too little too late”,...
An off-the-shelf deed for an SMSF should offer a degree of flexibility, says a legal specialist.
More than a million Australian retirees have been left out of APRA’s quality test of super funds for the fourth year...
Explore why SMSF trustees should consider bullion in this free webcast. Join us for an insightful, free live webcast...
Recent updates in the Practice Statement Law Administration (PS LA) 2021/1 show that the ATO means business when it...
Whether an SMSF should register for GST is generally an easy decision, but there are some instances where it could be a...
The ATO has warned advisers to be aware of recent changes to the promoter penalty laws and the consequences for anyone...
There have been significant changes over the past few decades with respect to female participation in the workforce and...
An SMSF member can have as many pension accounts as they want but only one accumulation account, says a leading...
The way in which a will is drafted can determine whether a recipient will receive a “gift” as intended and can...
Total self-managed super fund assets increased by more than 7 per cent in the 12 months to 30 June 2024, according to...
Anja Pannek has urged organisations to measure their recruitment, retention, and incentive strategies to ensure that...
As the ubiquitously stated trust mantra confirms – it is critical to “read the deed”, particularly where an...
It’s important that trustees and auditors don’t just consider SIS Act compliance but also the professional...
A former Adelaide accountant who worked for an SMSF specialist firm has been sentenced after stealing over $2 million...
The SMSF Association said although losses from scams have more than halved in the first six months of this year,...
A technical expert has urged advisers to consider tax planning strategies aimed at minimising tax obligations for...
Trustees should ensure they maintain accurate and consistent valuation methods in preparation for the Division 296 tax,...
There are four types of non-arm’s length income (NALI), and each has a separate test and operates differently, says a...
Class has launched an enhancement to its trust accounting and administration software cloud solution, Class Trust,...
Former financial adviser and director Ben Jayaweera has been sentenced to 12 years imprisonment for fraud at retrial....
A recent case in the NSW Civil and Administrative Tribunal involving stamp duty exemption and an SMSF has highlighted...
The “commitment to a shared life” has again been highlighted in a Private Binding Ruling regarding the criteria...
The Early Release of Super scheme implemented during the COVID-19 pandemic had little impact on financial resilience or...
Many advisers favour automatically reversionary pensions (ARPs) as a popular strategy for SMSF succession planning....
Capital losses can be used to reduce or eliminate NALI tax exposures in relation to a tainted capital gain, says a...
ASIC has recommitted to conducting surveillance of personal advice provided to retail clients about the establishment...
The SMSF Association (SMSFA) has joined forces with BizCover and insurance brokerage Numerisk to provide SMSFA members...
Transition to retirement income streams are regaining popularity as a way to reduce tax and support retirement, says a...
A petition from October 2022 requesting changes to allow self-managed superannuation funds to make capital improvements...
The ATO is encouraging SMSF trustees to use its voluntary disclosure service to inform it early if a contravention has...
The government would most likely still proceed with its plan to implement the Better Targeted Superannuation...
The case of Dawson v Dawson [2019] NSWSC 826 shows how important estate planning and appropriate deed wordings are,...
SMSF members don’t have to stop work to qualify as retired and access their superannuation legally, says a leading...
The SMSF Association has appointed Keddie Waller as policy manager, strengthening its advocacy and policy work at a...
In this special episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn celebrate the 100th episode of the...
The decision in Slade v Brose [2024] NSWCA 197 provides a stark reminder of where first-order focused advice, or...
If an SMSF member is diagnosed with a terminal illness, it is best not to close out the fund before the insurance has...
An industry expert has urged advisers and their clients to keep pace with the intricacies of Div 296 as it contains...
The ATO is a large bureaucracy and produces a lot of guidance material. Thus it is important that advisers and...
The Joint Associations Working Group (JAWG) has joined the call for amendments to the Treasury Laws Amendment (Better...
The delay in the changes to the Tax Agent Services (Code of Professional Conduct) Determination 2024 (determination)...
An executive at the Institute of Public Accountants has suggested that a discussion around the need for gender quotas...
An SMSF can retain its Australian compliance if a member is overseas for an extended period if an enduring power of...
The portfolio administration and compliance software has added a new bank account verification feature to reduce the...
More female advisers are needed in the private wealth sector to support the inflow of wealth to female clients,...
The SMSF Association CEO says there are “growing concerns” among senators about the unintended consequences of...
Professional bodies have taken aim at comments by the assistant treasurer that practitioners and associations were...
The taxation of unrealised gains and forced sale of illiquid assets are the top concerns that a group of independent...
A technical expert has cited a recent ATO private ruling to highlight the interaction between the timing of an...
In light of recent changes to the professional and ethical obligations of tax practitioners, it is important for...
SMSFs should consider diversification into private credit investments as the cost of living continues to rise, says an...
The SMSF Association has urged the government to further engage with stakeholders over its plans to amend eligibility...
Former federal MP Julia Banks insists that all women can use their personal power to advocate for a more inclusive...
The federal opposition will seek to disallow the government’s code of conduct changes for tax practitioners, which it...
A senior SMSF educator has warned that even if a total super balance is below $3 million on 30 June 2026, the proposed...
After calling for a public inquiry into the Dixon collapse, the FAAA’s Phil Anderson has broken down the role that...
The SMSF Association says its annual Audit Day event will focus on enhancing the quality and integrity of SMSF...
Members may be able to recover mistakenly contributed funds under the Law of Restitution, says an industry...
Revenue generated by the proposed Division 296 tax should be “ring-fenced” to increase the low-income...
An increase in the volume of superannuation fund movement has seen ASIC issue a reminder to financial advisers to...
The change in the preservation age for superannuation to 60 years has brought a raft of considerations regarding...
There are several things to consider if a client decides to make a deathbed withdrawal, says an industry...
SMSF provider SuperConcepts and The Principals’ Community have joined forces to provide 122 member firms and around...
Just as there are conditions of release regarding accessing retirement funds, there are also conditions of release...
If a family member loses capacity and doesn’t have a power or attorney, an application to a state tribunal may need...
If legislated in their current form, the new Division 296 tax rules (the extra tax for those with more than $3 million...
A more traditional option of wealth building is coming back into play as SMSF trustees consider the impact of the...
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Chris Hill, co-founder –...
Accountants working on an SMSF will now need to complete a trust income schedule and lodge it with the fund’s 2024...
There are three principal differences between a reversion of a pension to the spouse of a deceased member and the issue...
The conference is returning for the 11th year in 2024 to arm SMSF professionals with the knowledge and insights on...
The importance of correctly executing a will was highlighted in the culmination of a high-profile court...
Changes to the work test mean that advisers must ensure clients over the age of 67 understand that there is no ability...
It’s important to consider whether the trustee of an SMSF is using their “discretion” in line with the trust deed...
The consequences of failing to meet pension standards are significant following a recent amendment to a tax ruling,...
Not all criminal records will disqualify a person from being an SMSF...
The Australian Financial Complaints Authority is concerned about a rise in sophisticated scam activity in the...
With the Division 296 tax looming it is important to think strategically about restructuring investments regarding...
Practitioners and professional bodies have vowed to keep the pressure on authorities to fix broad provisions around...
As a lawyer, I do a lot of work advising and representing approved SMSF auditors who are being audited/reviewed by the...
Financial advisers have experienced substantial client attrition due to recent fee increases, according to a new...
The new financial year has started, so it is time to collect and collate your SMSF records. This can be a more onerous...
A recent private binding ruling has stated that financial dependency can be achieved even if the beneficiary became so...
After a successful inaugural event last year, the Women in Finance Summit is returning in 2024 with more business...
ASIC has banned a former adviser for 10 years after it found representatives from his company recommended prospective...
The Coalition would reverse the proposed Division 296 tax if it won the next election, says shadow assistant treasurer...
There are a number of assumptions that are included in obtaining “market value” for an asset inside an SMSF, says a...
Superannuation cannot be dealt with under a will so it is vital that a comprehensive estate plan is written including...
A Melbourne accountant was fined $20,000 and sentenced to a 70-hour community correction order for falsifying the...
One of the most significant advantages of holding insurance policies inside superannuation is the tax deduction for...
As the incidence of blended families continues to rise, the issue of stepchildren and superannuation benefits is also...
There is an urgent need for cost-effective, trusted financial advice, especially for young people, who are increasingly...
Withdrawing assets from an SMSF to help minimise Division 296 liability can incur costs, but there is a way to do it...
Auditors should insist upon a written agreement for transactions with related parties, says a leading industry...
Financial planning professionals should be having conversations with their clients as soon as possible about their aged...
The regulator has banned a financial adviser for five years and cancelled his firm’s...
The SMSF Association is hoping a meeting with Greens senators in late June will help pave the way for amendments being...
An SMSF trustee and accountant who tried to leverage the decision of the recent case against Billabong Surf Clothing...
SMSF Adviser is now accepting nominations and submissions for the Women in Finance Awards, to be held in November...
A key challenge for financial advisers when servicing their SMSF clients relates to difficulties encountered with the...
A recent private binding ruling has stated that the payment of a superannuation death benefit to the trustee of a...
Historically, deeds were required to be written on paper (or parchment or vellum), as well as being signed, sealed and...
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Craig Day, head of technical...
The taxing of capital gains in relation to the NALI bill is the new frontline in the ongoing battle for the SMSF...
A death benefit guardian is a way to add flexibility around paying death benefits, says an industry...
Safe harbour provisions cannot be applied to units purchased in an unlisted unit trust through an LRBA arrangement,...
BGL has announced an integration with Digital Rapport, an AI-driven reporting platform revolutionising SMSF financial...
Liquidators in the Vestey Trust case of Australian Competition and Consumer Commission v Master Wealth Control Pty Ltd...
The ATO has released two new education courses for trustees to build their knowledge on setting up and winding up an...
It’s time to rethink the traditional view of the home as a “nest egg” and start thinking about it as a key...
The proposed Division 296 tax will be highly reliant on accurate valuations as part of the methodology used to...
SMSF accountants, auditors and advisers are at risk of cyber crime and should take precautions to secure their...
The shadow assistant treasurer has demanded the urgent withdrawal of new rules he says are unrealistic and rife with...
There are plenty of complexities and potential challenges to be navigated when investing overseas. Trustees will...
SMSF auditors should “slavishly” follow the relevant ATO webpages and monitor changes in wording, says a legal...
Despite cryptocurrency having a low correlation with traditional SMSF investments, it can give a fund a generous return...
SuperMate has announced an integration with Macquarie Bank’s Cash Management Account (CMA) that will streamline the...
Two recent court cases highlight the need to adopt a holistic approach in relation tax and estate planning,...
While we all know that rising interest rates is good news for term deposits savers, there are other investments that...
With ASIC increasing its regulatory scrutiny in relation to registering new companies, it is imperative for advisers...
Accounting giant BDO has partnered with SuperConcepts to deploy its newly upgraded SuperMate SMSF software...
A recent case in the NSW Supreme Court highlights how deathbed withdrawals can be problematic, says an expert legal...
SMSF trustees considering investing in cryptocurrency should remember the asset class has been designed to fit into...
The ATO has now registered the Income Tax Assessment Amendment (Superannuation) Regulations 2024 with a commencement...
There will be additional reporting requirements for SMSFs when the new $3 million super tax legislation comes into...
Boosting superannuation contributions with extra funds from the newly introduced stage 3 cuts needs to be considered...
Leaving superannuation to charity has been problematic but there is a renewed push from various lobby groups to amend...
The SMSF Association said it “firmly opposes” the new Tax Agent Services (Code of Professional Conduct)...
SMFS auditors and trustees who received a letter from the ATO earlier in the year regarding its focus on asset...
After more than 10 years, the ATO has finalised the updated tax ruling on pensions commencing and...
Whilst the focus was on end-of-financial-year matters, the ATO released the final updated version of its pension ruling...
Related party transactions continue to be regularly caught up in ATO decision impact statements despite a longtime lack...
ASIC has told the profession to stay on top of updating systems and processes as required after the Treasury Laws...
AFCA has released the final number of complaints made against Dixon Advisory, with the amount reaching 2,773 at the...
The case of Merchant v Commissioner of Taxation [2024] AATA 1102 and the eventual overturning of the Commissioner’s...
An industry stalwart has questioned how significant the application of the NALI changes will be now they have finally...
Submissions and nominations have opened for the inaugural Momentum Media Australian AI Awards 2024, which champions the...
In this special episode, hosts Keith Ford and Aaron Dunn discuss the flurry of activity happening on the regulatory...
Grandparent carers are becoming an increasingly more common scenario and there is the possibility that this situation...
The SMSF Association has urged the federal government to implement a key recommendation in the Senate Economics...
Given the role a binding death benefit nomination plays in estate planning, it could be argued that the capacity to...
How SMSF trust deeds are drafted can reduce or increase the risk of disputes over a member’s benefits when they die,...
A fund’s status has changed to “regulation details removed” on Super Fund Lookup. Why has this occurred and what...
Rushing to lodge a tax return could have implications for claiming personal deductible superannuation contributions,...
The question of how non-arm’s length income can apply to an SMSF in receipt of fully franked dividends has been...
The ATO has issued guidelines about how the new non-arm's length income (NALI) legislation may impact...
Speculation is growing that the government may be rethinking its approach to the controversial $3 million super tax...
The committee has recommended separating ASIC into two bodies and lightening the load on small businesses by...
After passing the Senate on Thursday afternoon, the first Delivering Better Financial Outcomes bill has passed the...
With the House of Representatives due to debate the $3 million super tax tomorrow, SMSF Association CEO Peter Burgess...
SMSF trustees have to use SuperStream in rolling over funds or they will be breaching regulation 6.17, says a leading...
The Association of Superannuation Funds of Australia said the latest ‘Pulse check on retirement income...
The timing and definition of what constitutes the official ending of a relationship can be problematic and can impact...
To classify as having an interdependency relationship, there has to be more than a close relationship and rather...
If a member of an SMSF has received a Division 293 assessment, several steps have to be taken before any payments can...
After last week's further postponement of the third reading of the proposed $3 million super tax in the House of...
How the industry manages risk around SMSFs is important but equally so is the role professional advisers play going...
A recent Federal Court decision demonstrates the circumstances where contributions into a super fund will not protect...
Before making a tax claim or entering into a more novel transaction, SMSF trustees should be prudent and prepare a...
A tax ruling on superannuation contributions is still to be finalised and is causing concern for SMSF trustees, a...
SMSFs would likely benefit if there were an increase in the diversity and quality of investment opportunities on the...
The contribution caps change from 1 July 2024. In particular, the annual non-concessional cap goes from $110,000 to...
The impending Division 296 tax is leading SMSF trustees and advisers to think about whether investing all their savings...
The safe harbour interest rate for related party limited recourse borrowing has changed for...
The decreasing number of qualified financial advisers could be forcing people wishing to establish an SMSF to seek help...
Fraudulent illegal early access schemes can leave SMSF trustees open to not only ramifications from the ATO but also...
There are a number of hurdles and potential tax penalties that may apply if an SMSF elects to have their family...
In this episode of the SMSF Adviser Show, Adrian Fisher, head of distribution and product at RedZed, joins host Maja...
There will now be certainty around the NALI/E provisions with the passing yesterday of the Treasury Laws Amendment...
Now that the 2023–24 financial year is coming to a close, it will be necessary for individuals receiving pensions...
The termination of a relationship requires more than a text message, as has been highlighted in the Federal Court case...
Any income derived by an SMSF as a beneficiary of a trust can be subject to penalty tax, warns a legal...
The ATO has updated its SMSF independent auditor’s report.
The SMSF Association is continuing to push its case against the new $3 million super legislation due to be debated in...
Starting a pension on or after 1 June can be strategic from a tax perspective leading up to the end of the financial...
A tax agent who appealed deregistration by the Tax Practitioners Board to the Federal Court for incorrectly lodging the...
Trustees are reminded that as the new financial year approaches it is time to make sure investment valuations are done,...
SMSF Association CEO Peter Burgess has reiterated his call for a more united front in the financial services sector in...
People nearing retirement often want to know how much they can earn before it affects their pension, and now there is a...
The economics legislation committee has released its findings on the DBFO bill and its controversial section...
If you use trusts as part of your business or personal investment structure, there are some important considerations...
The introduction of the Division 296 tax may see a change in investment appetites for more exotic property purchases,...
A recent ruling in the NSW Supreme Court has highlighted the importance of timing in nominating beneficiaries as well...
Accountants, auditors, bookkeepers, and rising stars were among those declared winners at this year’s...
The impact of identity theft and its threat to superannuation savings was highlighted in a case that went before the...
A recent private binding ruling has highlighted how stringent the ATO is on the definition of interdependency in...
One-third of Australians expect they will still be paying off their mortgage in retirement, according to new...
Draft legislation that includes the non-arm’s length expense changes is stuck in Parliament after almost five years...
The ATO is “cracking down” on family trust elections, warns a leading legal...
Many grey areas need to be addressed in the wholesale versus retail investor classifications, says the head of policy...
The central bank has announced its latest rate decision amid sticky inflation and ongoing geopolitical tension,...
As the value of superannuation increases it is important to understand how to make complying death benefit nominations,...
The CEO of the Super Members Council says her remarks were “not intended to be generalised to all financial...
Liberal senator Andrew Bragg raised concerns over whether ASIC's involvement in the legislative process has impacted...
There are a number of critical issues surrounding deathbed benefit withdrawals, including whether the member has a...
Almost 300 finalists are set to battle it out for the trophies at this year’s prestigious...
The proposed new breach reporting provisions will present several challenges for registered tax agents (RTA) when...
As the end of the financial year draws to a close, we must ensure that trustees draw their minimum pension. Failure to...
There are two conditions for a company to qualify as a special purpose superannuation trustee company, says a legal...
The ATO has issued a warning on cryptocurrency scams for SMSFs and reminded trustees that it will use a data-matching...
While separation of assets remains one of the most reported contraventions by SMSF auditors, the question is: does a...
An SMSF doesn’t need to have an empty balance sheet during the winding-up process, says a technical...
There are three key areas within limited recourse borrowing arrangements that the ATO has indicated it will focus on...
New research has recommended that superannuation tax concessions should be ended or at least...
In this episode of the SMSF Adviser Show, host Keith Ford is joined by Tracey Scotchbrook, head of policy and advocacy...
Grandchildren challenging estates is becoming a growth area that shows no signs of slowing down, says a legal...
The SMSF Association is calling on the government to amend the legislation governing the GST treatment of adviser fees...
Growth in house prices in Australian capital cities could accelerate in the second half of 2024 and in 2025, with the...
The controversial CSLR has made its first payments to four claimants who suffered from financial services misconduct,...
With the $3 million super tax entering its final stages in Parliament, new research has shown that “tax bunching”...
The SMSF Association said it is concerned by the number of measures being introduced as a “response to PwC” and...
There are some important things to consider when choosing a name for your SMSF, says the...
A unit trust is often an attractive investment vehicle for SMSFs as it can offer many similar benefits to a corporate...
Advisers are coming together to protest the government’s handling of key legislative and regulatory matters...
The ATO has released instructions on what SMSF trustees should do and mistakes to avoid when preparing their annual...
SMSF trustees need to be aware that there are situations where a notice of intent may not be valid, which could impact...
Before 30 June, SMSF trustees need to check the level of any in-house assets to ensure they haven't exceeded the 5 per...
The introduction of the $3 million super tax has sparked a fresh debate about limited recourse borrowing arrangements,...
This checklist includes some items that aren’t exclusively end of financial year or SMSF-related but might be...
There is increasing uncertainty and fear among SMSFs with the further postponement of the passing of the NALI/E...
The introduction of the Division 296 tax should be used as an opportunity to open conversations with clients around...
The Super Members Council is urging the government to slash red tape on super accounts in retirement to save tens of...
SMSF trustees that invest in qualifying use property in Victoria from 1 July 2024 will need to be aware of how the new...
SMSFs have a little more flexibility when it comes to making contributions and deductions in time for the end of the...
The SMSF Association has called for the government to take the burden off financial advisers and cover the cost of all...
This is part 8 of our series of ‘employee versus contractor’ articles. Part 8 focuses the ATO’s decision impact...
It has already been revealed that there will be some superannuation members who will be excluded from Division 296, but...
When making direct death benefit payments, whether as a lump sum or as a pension, there are specific legal limitations...
The Global Multi-Strategy Fund (GMF) from Victor Smorgon Partners has been added to the HUB24 investment platform,...
Discover the potential of cryptocurrency to diversify and enhance your SMSF by joining us for this free, live...
Although the proposed Division 296 tax legislation is the headline issue in the new superannuation legislation, there...
The repayment of a limited recourse borrowing arrangement presents an opportunity to consider changes to the...
An improved professional registers search from ASIC will help SMSF trustees search for approved SMSF...
A recent Victorian court decision has provided a stark reminder of the interplay of superannuation entitlements and...
A recent private binding ruling has once more consolidated that payments from a foreign pension scheme will be taxed as...
Increasing medical costs and insurance premiums are driving up the cost of a comfortable retirement, according to the...
As the end of the financial year (EOFY) approaches, it is crucial to ensure your SMSF is in order....
Many Australians close to retiring won’t have nearly enough super to live on during their golden years and may need...
When contemplating an SMSF being an investor in a related unit trust structure, many advisers and SMSF trustees focus...
There are three big ethical issues the SMSF sector will face in the coming years, says an industry...
The total assets in SMSFs grew nearly 9 per cent in the March 2024 quarter, according to the latest statistics from the...
Three Queensland women who illegally attempted to access superannuation payments under a federal government COVID-19...
The court has upheld a decision by the AAT and Tax Practitioners Board to terminate an agent’s registration after she...
If a deemed contribution is sourced from an entity or individual other than a member or spouse, it will count towards...
The corporate regulator has permanently banned a former Queensland-based financial adviser after he was convicted of...
A super rollover can affect a range of financial planning strategies, says a superannuation technical...
Advisers need to ensure that clients currently in pension phase have met their minimum pension requirements in the...
Chris Holloway, senior tax manager for Equity Trustees, an independent specialist trustee company, said while...
With the expansion of the downsizer contribution, the timing of when it is used can affect how to use non-concessional...
The SMSF Association has called on the government to exclude an individual’s principal place of residence from the...
More SMSFs are investing in ETFs as a younger demographic continues to enter the sector, according to the latest...
A resounding yes. Let's explore why.
Unless carefully managed, unpaid present entitlements (UPEs) and beneficiary accounts in family/discretionary trusts...
It is important for advisers to be aware of the key issues the ATO will consider when assessing the tax treatment of...
A government pension or allowance was still the main source of personal income at retirement, according to the latest...
With the stage three tax cuts set to be implemented in around six weeks, opportunities for tax-saving strategies should...
SMSF trustees are less concerned than the general population about outliving their retirement savings, especially if...
To access the experienced pathway, financial advisers need to make a written declaration and give a copy to their...
The latest ATO quarterly SMSF statistics show the sector continues to grow, led by younger members and women.
A recent court decision has highlighted that there are nuances in any case that can determine whether breaches of an...
The absence of any mention of the Objective of Superannuation legislation in last week’s budget could be an...
As the transfer of inherited assets continues to grow, advisers will need to leverage digital channels to help...
The ATO’s additional guidance on trust distributions shows this is an area it is likely to check closely, says a...
Providing life interest or life estate is becoming an increasingly common way to protect the inheritance of children in...
The complex nature of limited recourse borrowing arrangements means it is necessary for SMFS to carefully consider...
Exemptions under the in-house asset rules can help SMSFs regarding investments in unit trusts, says a superannuation...
If an SMSF has lost documentation regarding limited recourse borrowing arrangements, paying out the loan can be one way...
Failing to follow the specific requirements of a trust instrument when appointing a beneficiary can potentially leave a...
The SMSF Association CEO said it was encouraging to see a number of independent and Coalition politicians voice their...
When buying a business real property, such as a commercial property, an important first step is confirming what assets...
The National Farmers’ Federation has reiterated significant concerns over the federal government’s proposed tax...
More than 12 independent and Coalition senators spoke out against the new $3 million super tax legislation in the Lower...
Although there was a notable absence of any major superannuation announcements in Tuesday’s federal budget, there...
All transactions regarding SMSFs need to be completed by 28 June to avoid compliance issues and...
With recent increases in property values and ongoing changes to the land tax rules, more property owners may wish to...
The government found room for a sweet potato levy reduction in the federal budget, yet financial advice didn’t rate a...
In this special budget episode, hosts Keith Ford, Maja Garaca Djurdjevic, and Aaron Dunn discuss the outlook for...
Superannuation was a no show in the federal budget last night but whether that means good news or bad news is...
Superannuation may still be viable beyond a $3 million balance but doing some financial analysis and seeking...
The corporate regulator has permanently banned a financial adviser who “dishonestly attempted to induce clients to...
Treasurer Jim Chalmers delivered the Albanese government’s third federal budget on Tuesday evening, 14 May, touting a...
While an amnesty on legacy pensions is top of the budget wishlist of the SMSF Association, there is also concern about...
The SMSF Association said it is bitterly disappointed the Senate Economics Legislation Committee recommended that the...
The FAAA's budget wish list includes a fairer ASIC funding levy, improved tax deductibility for financial advice, and...
SMSF trustees are required to have lodged their SAR by tomorrow (15 May) or risk losing their compliance...
Superannuation will no doubt become a political football ahead of the next federal election with the Senate...
The final draft of the $3 million super tax legislation remains unchanged and will include the taxing of unrealised...
The FAAA says new AFCA figures will cost every adviser an additional $4,165 on top of what has already been...
The fight isn’t over for amendments to the $3 million super legislation, SMSF Association CEO Peter Burgess has...
Primary producers and small businesses with SMSFs are beginning to sell their assets in anticipation of the $3 million...
Shadow finance minister Jane Hume launched a scathing attack on the Labor government’s economic policies on...
The corporate regulator has commenced “urgent” Federal Court proceedings against a Brisbane-based financial...
The transfer balance cap looks set to increase to $2 million in 2025 as inflation continues to remain high, says an...
A new SMSF specialist adviser course has been added to the stable of...
There were 25 winners at the first-ever Australian Wealth Management Awards, held in Sydney...
Managing SMSF expenses with diligence and care is the first step to avoiding general expense...
The SMSF Association has made a last-minute submission to the Senate economics committee voicing its concern over three...
SMSF Association CEO Peter Burgess “encouraged” the government to cease the progress of the Better Targeted...
The central bank has announced its latest rate decision amid stubborn inflation and increasing geopolitical...
Despite the proposed legislation to introduce an additional impost on high-balance super accounts being referred to the...
ASIC has warned consumers to be wary of cold-calling operators offering inappropriate super-switching...
A recent AAT case has offered some valuable insights into how tax residency can be determined if clients move overseas,...
ASF Audits has joined forces with Acumentis, a provider of residential and commercial property valuations....
The ATO has issued a reminder to financial advisers and accounting professionals to ensure their readiness for year-end...
A legal expert has warned that using a standard bank account for an SMSF can carry a risk, especially if it becomes...
The ATO has issued a draft decision impact statement on the recent Administrative Appeals Tribunal decision of BPFN and...
The corporate regulator has shared some “disappointing” findings upon reviewing the public communications of more...
The SMSF Association has asked for clarification on two points in the amendments to the draft legislation on successor...
The increasing engagement of women investing and SMSFs suggests things are moving in the right direction regarding...
In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Tony Negline, superannuation...
Before making a distribution from a discretionary trust it’s important to check that the person, company, trust or...
Certain legislative amendments from 2022 allow for some legacy pensions to be commuted and converted into new...
The Association of Superannuation Funds of Australia (ASFA) said it is “disappointed” to see Australia’s...
This is part 7 of our series of ‘employee versus contractor’ articles. Part 7 focuses on recent changes by the...
In this episode of the SMSF Show, host Maja Garaca Djurdjevic is joined by shadow treasurer Angus Taylor to discuss the...
It doesn’t matter how late a non-concessional contribution is made before starting the pension phase as long as there...
SMSF expenses have to pass the “smell test” if trustees don’t want auditors to start digging for evidence, says a...
The Financial Services Minister defended the CSLR funding model, adding that to “sustainably” solve the problem,...
With the concessional contributions threshold about to increase, it’s a good time to revisit strategies to avoid...
Appropriately structured and administered trusts can provide significant protection in the event of a spousal...
The Actuaries Institute is calling for the annual Superannuation Performance Test to transition to a two-metric test,...
A specialist adviser recommends considering whether to hold or sell assets held in an SMSF before winding up the...
It’s not ideal to personally pay a deposit for property bought in the name of an SMSF, warns an...
Even if a home is owned by only one spouse, the other may make a downsizer contribution if they meet all other...
The release of regulations around the proposed Division 296 tax was “deliberate” after backlash from the Australian...
The Joint Associations Working Group (JAWG) has put forward “core principles” to improve the pathways for new...
SMSF trustees are being warned to be on the lookout for crypto investment...
The SMSF Association is urging Treasury to prioritise an amnesty for legacy pensions in the upcoming Federal Budget on...
For more than a decade, our mission has been empowering investors with unexplored and intelligent solutions. Our ETFs...
In an appearance before the Senate Economics Legislative Committee last week, the Tax Institute recommended the...
A recent private binding ruling has further highlighted the conditions that need to be met to claim interdependency in...
The ATO is advising SMSF trustees about a change to its SMS alerts that aims to prevent scam and phishing...
It may only be April, but while we are distracted with the upcoming federal budget and the May lodgment date, the end...
It can be difficult but not impossible to prove dealings are consistent with arm’s length terms, as a recent court...
A recent AAT decision confirmed the ATO’s ruling on the timing of concessional contributions for tax purposes, says a...
The SMSF Association said it does not support the introduction of a performance test for...
Buying a property in an SMSF can be a great investment strategy to generate long-term retirement wealth, but it is...
The interaction between the IHA rules and Part 8 of SIS underscores the legislation’s holistic approach to SMSF...
The Financial Advice Association Australia has argued strongly against the implementation of the CSLR, calling the...
While contribution reserving can be used to maximise a tax deduction, it can also be useful for handling work test...
The fund manager has announced a new range of funds that financial advisers can take advantage of gearing for their...
The key super thresholds that will apply for the 2024–25 financial year include a number of changes, as well as some...
Responding to the Senate inquiry on the measures to reduce the tax concessions for super balances above $3 million, CA...
The software firm has announced an integration with Sydney-based wealthtech firm HeirWealth.
Following a two-week delay, the Federal Court has approved the $16 million class action settlement.
The Tax Office says tax and super professionals play a key role in helping address illegal early access to...
An incorrect valuation of fund assets could lead to an incorrect value for pensions, warns a senior adviser.
SMSFs may no longer be prepared to invest in illiquid assets such as start-ups if the super tax legislation is passed...
The importance of supplying a Notice of Intention in relation to cashing out superannuation was highlighted in a recent...
Personal deductible contributions must be made before the age of 67 to avoid the work test, says a technical...
The number of Class accounts has grown 3 per cent, with HUB24 also reporting a boost in adviser numbers.
A recent tribunal decision regarding non-arm’s length income is unlikely to apply to private lending arrangements...
Advisers are bracing for the Compensation Scheme of Last Resort levy while Jones has hit the campaign trail and...
The corporate regulator has announced it will have an interim chief executive amid an executive leadership...
SMSF trustees who want to undertake property development need to be aware of the compliance and tax issues on which the...
ASIC has filed civil proceedings against three blockchain mining companies and their sole...
The asset protection strategy, often referred to as a 'gift and loan back' arrangement (and various iterations of it),...
It’s important advisers consider who qualifies as a spouse early in their client interactions, especially when...
A trust instrument with a variation power that is considered too narrow to achieve wider objectives can be difficult to...
With the NALI/E bill now passed through both houses of Parliament, SMSFs need to take some crucial steps in accounting...
Advisers should be mindful of the non-concessional caps and total super balance threshold changes when recommending...
Loans to unrelated or related parties must satisfy the prudent person test, says an SMSF legal...
Correct pension documentation is equally important as death benefit nomination in an SMSF, says a financial...
Solving the in-house asset (IHA) compliance maze is complex due to the legislation that applies to IHA...
Contribution reserving provides an opportunity for SMSF trustees to optimise their contributions and tax positions,...
In the event of a dispute over the contents of a will, Family Provision Applications involve many ancillary issues and...
A large concessional contribution this year could be useful in dealing with a one-off capital gain or significant...
Calculating the tax payable on a defined benefit fund under the new proposed $3 million super tax will require more...
A senior ombudsman from AFCA has cautioned advisers to “tread with caution” when applying the wholesale test to...
The JAWG has said there is still time to fix the first QAR bill – but the government needs to move...
The recent ATO communication about SMSF valuation compliance should be viewed as a warning that the regulator will be...
Another private binding ruling has been issued, clarifying the distinction between a member benefit and a death...
If an SMSF is notified of penalties for contraventions, it’s best practice to go straight to the ATO’s law...
Australia’s superannuation system has seen a number of significant changes in recent years....
Without a clear change of trustee provisions in a deed, section 6 of the Trustee Act 1925 (NSW) must be relied upon and...
A recent private binding ruling highlighted that if an SMSF member resides overseas for some time, their fund must...
The ATO has reminded SMSF trustees that funds that do not meet their release authority obligations may incur...
The $3 million super tax legislation intends to change the calculation of the total super balance for a defined benefit...
Leaving superannuation in the superannuation environment for as long as possible is likely to produce a more tax...
The Senate Economics Legislation Committee said it is “encouraged” by the overwhelming amount of support garnered...
The recent decision in Kirk as trustee of the Property of Smith (a Bankrupt) v Smith [2024] FCA 240 provides a timely...
There is growing support from the Senate crossbench for the government to rethink its plans to tax unrealised gains in...
There is no relief for SMSFs for specific expenses which will be subject to the usual NALI rules in section 295-550...
A new SMSF investment solution is now available for the growing Islamic community in...
Changes to the Small Business Super Clearing House data integrity standards may impact the ability of some people to...
Regulation 7.04 in the SIS Act is important in determining which members of an SMSF can receive contributions and what...
Nearly 34 per cent of all reported SMSF contraventions indicate trustees may have inappropriately accessed their...
The SMSF Association said the government needs to carefully consider funding arrangements before implementing reforms...
A recent Federal Court ruling has found that the transfer of super from a husband to his wife’s superannuation...
The audit profession is facing major challenges in attracting and retaining qualified staff, according to a new...
The government has introduced a bill to Parliament to legislate the first stream of the QAR reforms.
To access financial hardship provisions, a member must be on financial benefits for at least 26 weeks of the year if...
We are introducing a new feature on our website to ensure we meet the needs of our audience and offer the most...
More than 16,500 SMSFs are being scrutinised by the ATO as they allegedly reported certain classes of assets at the...
A leading auditor suggests that instead of introducing the $3 million super tax, the government has two alternative...
The SMSF Association was working until the final bell gathering support to overhaul the government’s proposed $3...
Although the Centrelink age for a pension is 67, SMSF members can access their super from age 65, says an...
A comprehensive power of variation is one of the most important aspects of any trust deed, says a leading legal...
There are three tests to determine whether non-arm’s length income has been incurred in an SMSF, says a specialist...
Parents of a deceased person may not qualify for interdependency relationship regarding superannuation death benefits...
The SMSF Association said it was disappointing to see the introduction of some statements that perpetuate myths and...
A recent decision of the NSW Civil and Administrative Tribunal (NCAT) shows a “deed of rectification” to vary a...
Younger SMSF members should not “squander” any chances of boosting their superannuation balances before the $3...
It’s that time of the year. Self-managed superannuation fund trustees that are using an accountant, and are not...
The SMSF Association said it is “extremely concerning” that financial advisers are being asked to fund compensation...
The CSLR will hit advisers for almost $1,200 to cover 1 July 2024 to 30 June 2025, but this figure could...
SMSF Adviser is now accepting nominations and submissions from SMSF professionals for this year’s awards, now in its...
ASIC has permanently banned a Queensland-based financial adviser who recommended six SMSF clients invest their super...
More SMSF trustees are seeking financial advice due to the uncertain market conditions of 2023, according to a leading...
As the saying goes: nothing is certain except death and taxes. When it comes to death and the main...
The question is whether to restructure in an attempt to reduce your tax bills or those of your future...
The government has announced an increase in the standard concessional and non-concessional contribution caps.
We are thrilled to invite you to a momentous event that promises to set new standards in celebrating excellence in the...
Changes to the Transfer Balance Account Reporting (TBAR) regime are set to take effect on 1 July this year. These...
SuperConcepts releases quarterly SMSF Investment Patterns Survey analysing the investments of over 4,400 funds,...
Documentation and education provider LightYear Group has appointed a chief executive officer and announced changes to...
The demand for quality accounting staff is significantly outstripping supply but, what can we do to facilitate...
Self-managed super funds exist to provide their members with a high degree of control over their retirement savings....
Promoted SuperConcepts
Promoted by SuperConcepts Tight new Director ID changes are now in place and failure to comply could soon result in...
Promoted by SuperConcepts The ATO's ruling on non-arm’s length expenditure has been an area of great debate...
Promoted by SuperConcepts
Promoted by SuperConcepts What happens to your SMSF once you are gone? Death benefit nominations ensure that...
Promoted by SuperConcepts The flexibility of self-managing your superannuation comes with a myriad of key...
Promoted by SuperConcepts Last month, Prime Minister Scott Morrison announced a reshuffle of the cabinet which...
With any reforms to stamp duty unlikely to extend landholder duty, SMSF professionals should be careful not to...
The Administrative Appeals Tribunal has refused an application by the director of an SMSF administration firm to halt...
A recently established fintech company plans to launch a digital advice platform for SMSF advice that is targeted at...
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