News : Compliance & Regulation

Compliance & Regulation

Govt to take measured LRBA approach

A tightrope walker.

Assistant Treasurer Josh Frydenberg has given a clear indication the government will be addressing the Financial System Inquiry recommendation for a total ban on limited recourse borrowing arrangements within SMSFs in a considered fashion and will not pander to the hysteria surrounding the situation.

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ATO, Compliance & Regulation

ATO better defines residency rules

The ATO has recently clarified its position on residency rules applied to an Australian superannuation fund.

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ATO, Compliance & Regulation

LRBA tax treatment improved

Legislation clarifying and consolidating the tax treatment of limited recourse borrowing arrangements (LRBA) has been introduced into Parliament.

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Compliance & Regulation

DBA Lawyers working on QROPS solution

SMSF legal firm DBA Lawyers is working on a solution to allow SMSF trustees to accept United Kingdom pension fund transfers under the Qualifying Recognised Overseas Pension Scheme (QROPS) rules.

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Compliance & Regulation

New education platform for SMSF trustees

SMSF trustees and advisers now have access to a new education platform aimed at keeping them up to date with the latest developments in the sector.

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Compliance & Regulation

No new taxes on superannuation, for now

Close-up of hands shuffling a pack of cards

The federal government kept its promise that there would be no new taxes on superannuation in this year’s budget, however, the Financial Planning Association (FPA) warned it might not be long before the situation changed.

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Compliance & Regulation

Age pension treatment a budget positive

The 2015 federal budget announcements regarding the age pension and the fairness contained in the initiatives have been applauded by respected quarters of the SMSF sector.

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Compliance & Regulation

Change to early access rules applauded

The federal government’s decision to ease the rules around early access to retirement savings as a result of terminal illness has drawn praise from industry bodies.

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Compliance & Regulation

Watchdog busts free SMSF promoter

ASIC has begun legal action in the Federal Court seeking financial penalties and orders to prevent Superannuation Warehouse Australia (SWA) from flogging free SMSF set-ups.

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Compliance & Regulation

Ungeared trust works as LRBA alternative

Ungeared unit trusts could potentially become a relevant structure again for SMSF trustees should a ban on limited recourse borrowing arrangements (LRBA) go ahead.

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