News : Superannuation

Superannuation

Association lobbying for further relief

Association coronavirus relief

The SMSF Association has asked the government to boost the measures aimed at providing financial relief from the impact of COVID-19.

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Regulation, Superannuation

Work test amendments drafted

work test legislation

Draft legislation has been introduced by the federal government to modify the work test rules associated with superannuation contributions for older Australians.

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ATO, Superannuation

ATO to examine collectables

ATO lifestyle assets

The ATO will use its data matching powers to check if SMSFs are using high value assets for personal use in breach of the law.

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Superannuation

Illegal early access scheme promoter banned

Illegal early access

The Federal Court has imposed a two-pronged penalty on a woman found guilty of promoting and operating a scheme providing illegal early access to superannuation benefits.

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Direct Domestic Shares, Superannuation

Super could push ASX capacity

ASX capacity

The capacity of the Australian Securities Exchange could be seriously challenged by superannuation monies, according to analysis performed by a major accounting firm.

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Superannuation

Illegal early access promoter jailed

Illegal early access superannuation

The operator of a scheme providing illegal early access to superannuation benefits has been given a three-year jail sentence.

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ATO, Investments, Superannuation

ATO to scrutinise investment strategies

ATO SMSFs investment strategy

The ATO will ask some SMSFs to produce detailed investment strategies to justify why their investments are held in single assets.

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ATO, Superannuation

ATO acts on SMSFs with outstanding annual returns

smsf annual tax return

SMSFs that have failed to lodge an annual return or have been involved in illegal early-release efforts have been blocked by the ATO and will not be able to receive funds.

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Superannuation, Tax

Super taxes won’t be reviewed

taxation of retirement benefits

The federal government has indicated the review it will conduct into the superannuation system will not examine the taxation of retirement benefits.

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Investments, Superannuation

Where to now for SMSFs?

With the coming and going of the 2019 federal election, many SMSF trustees will have breathed a huge sigh of relief several Labor Party proposals that may have negatively affected their SMSF are – for now – off the political agenda. The proposal to ban refunds of excess franking credits that would have impacted on […]

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