News : SMSFA

Legislation, SMSFA

AML laws need SMSF sensitivity

Anti-money laundering Counter-terrorism funding SMSF Accountants SMSF Association Professional service providers

An expansion of anti-money laundering laws should not view accountants as the registered address of an SMSF as a cause for concern and exempt the activity from the changes.

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Pensions, SMSFA

Legacy pension amnesty missing

Legacy pension Amnesty SMSF Association Federal budget

The absence of an announcement declaring the government’s commitment to a legacy pension amnesty has disappointed the sector’s peak body.

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Legislation, SMSFA, Tax

Govt funds own Div 296 operation

Division 296 tax Defined benefit interests Federal budget SMSF Association

The government will spend more than $10 million to implement the proposed Division 296 tax on defined benefit interests.

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Legislation, SMSFA, Tax

Div 296 hearing suboptimal

SMSF Association Senate Division 296

The SMSF Association has labelled its time at a Senate inquiry into the proposed Division 296 tax as disappointing with limited time to address problems with the draft legislation.

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Legislation, SMSF, SMSFA, Tax

New tax policy rushed and flawed

Division 296 tax SMSF Association Senate

Government plans to introduce a superannuation earnings tax for total super balances over $3 million have been rushed and remain flawed.

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Legislation, SMSFA, Tax

Indexation change proposed for Div 296

Division 296 Indexation Cap SMSF Association

An amendment to ensure the $3 million threshold for the proposed Division 296 tax will be subject to indexation is likely to be introduced into parliament.

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Investments, SMSF, SMSFA

SMSFs outperform peers

SMSF Performance APRA-regulated funds Research University of Adelaide SMSF Association

New research shows SMSFs outperformed APRA-regulated funds on a rate-of-return basis for the 2022 financial year.

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SMSFA, Superannuation, Tax

Senate implored to reject new tax

SMSF Association $3m soft cap tax superannuation earnings tax unrealised capital gains

The SMSF Association is calling on crossbench senators to reject the government’s $3 million soft cap bill introduced into parliament yesterday.

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Legislation, SMSF, SMSFA

Residency rules need changing now

SMSF residency rules

The SMSF Association has urged the government to complete reforms to the residency rules first put forward by its predecessors two years ago.

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SMSF, SMSFA, Tax

More sectors discuss soft cap issues

$3 million soft cap SMSF Association

The SMSF Association is engaging other industry bodies to help its campaign to have the government change the calculation method for the $3 million soft cap.

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