News : Legislation

Budget, Estate Planning, Legislation, Trusts

Feedback sought on trust tax operation

The government has outlined what limits would be placed on the use of testamentary trusts to exclude them from a proposed tax on discretionary trusts.

The government has outlined what limits would be placed on the use of testamentary trusts to exclude them from a proposed tax on discretionary trusts.

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Compliance & Regulation, Legislation, Regulation

Lodgement confirmed as a trustee duty

An SMSF trustee was unsuccessful in an appeal against his failure to lodge fund returns by blaming his accountant for the problem.

An SMSF trustee was unsuccessful in an appeal against his failure to lodge fund returns by blaming his accountant for the problem.

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Compliance & Regulation, Legislation, Payday Super, Superannuation, SuperStream

Prompt ESA action required

SMSFs switching ESAs should act in the coming days to ensure they are not caught out by delays that lead to contribution issues under Payday Super.

SMSFs switching ESAs should act in the coming days to ensure they are not caught out by delays that lead to contribution issues under Payday Super.

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Federal Budget, Legislation, LRBA, Residential Property

Residential property LRBAs banned

The government has decided to ban the use of LRBAs for the purpose of buying residential property in order to secure the Greens’ support for the budget.

The government has decided to ban the use of LRBAs for the purpose of buying residential property in order to secure the Greens’ support for the budget.

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CGT, Compliance & Regulation, Division 296, Legislation, Strategy, Tax

Cost base change right for net gain SMSFs

The decision as to whether to use the Division 296 CGT cost base adjustment should be automatic if an SMSF portfolio is reflecting a net gain.

The decision as to whether to use the Division 296 CGT cost base adjustment should be automatic if an SMSF portfolio is reflecting a net gain.

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Budget, CGT, Legislation

Budget impacts small business CGT

The new CGT calculation methodology contained in the federal budget will have an effect on the small business concessions related to that tax.

The new CGT calculation methodology contained in the federal budget will have an effect on the small business concessions related to that tax.

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Compliance & Regulation, Contributions, Legislation, Payday Super

SMSFs must obey Payday Super deadlines

The status of an SMSF as a related-party fund will not negate the need for SG contributions to be paid to it within seven days under the Payday Super rules.

The status of an SMSF as a related-party fund will not negate the need for SG contributions to be paid to it within seven days under the Payday Super rules.

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Compliance & Regulation, CSLR, Legislation, SMSF, SMSFA

CSLR levy on SMSFs defies consumer law

Requiring SMSFs to pay to access the CSLR is likely to breach consumer laws and blames them for losses caused by other parties.

Requiring SMSFs to pay to access the CSLR is likely to breach consumer laws and blames them for losses caused by other parties.

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Budget, Estate Planning, Legislation, Trusts

New trust tax an estate planning issue

The tax to be applied to discretionary trusts included in this year’s federal budget may have estate planning implications for SMSFs.

The tax to be applied to discretionary trusts included in this year’s federal budget may have estate planning implications for SMSFs.

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Budget, CGT, Division 296, Investments, Legislation, Tax

Div 296 strategies have more clarity

The 2026 federal budget has inadvertently provided SMSF trustees with a clearer direction as to the management of Division 296 tax liabilities.

The 2026 federal budget has inadvertently provided SMSF trustees with a clearer direction as to the management of Division 296 tax liabilities.

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