News : Tax

SMSF, Tax

Div 296 tax just about dead

SMSF Association Peter Burgess Division 296 tax

The Division 296 tax bill is unlikely to progress any further through the Senate, but the government has yet to admit it is permanently stalled.

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NALI/NALE, Regulation, Tax

NALI tax allocation has flexibility

NALI Tax penalty SIS Regulations Accurium Mark Ellem Anthony Cullen

SMSF trustees cannot rely on the SIS Regulations to determine whether a NALI liability has to be allocated to a particular superannuation interest.

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Australian Shares, International Shares, Tax

Share volatility shows Div 296 severity

The Division 296 tax could lead to particularly unfair outcomes in situations where SMSFs hold certain equities that experience significant fluctuations.

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Legislation, Tax

Not right to pay tax on what you’ve never had

SMSF Unrealised capital gains Division 296 tax self-managed superannuation

The proposed policy to tax the unrealised gains of individuals with total super balances over $3 million has significant implications for the economy.

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Legislation, Tax

Govt keeps justifying super tax

Stephen Jones SMSF Division 296 tax Super tax

The Minister for Financial Services has told APRA funds and investment managers its plans to lift taxes on high super balances are fair and part of a wider agenda around equity in the system.

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Legislation, Superannuation, Tax

Lower house passes Div 296 bill

Division 296 tax SMSF Association Bill House of Representatives

The Division 296 or $3 million soft cap bill will progress to the Senate after the government voted down amendments in the lower house.

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SMSF, Tax

Scam loss write-offs possible

Scam Tax deduction Capital Gains Tax CGT

Favourable tax treatment may be available to SMSF members who have been victims of an investment scam in certain circumstances.

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Legislation, SMSF, Tax

MPs raise Div 296 tax worries

Division 296 tax Self-managed superannuation SMSFs Teal Independents Farmers amendments

The teal independents have raised several concerns regarding the proposed Division 296 tax and called for urgent changes to mitigate its impact on SMSFs.

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Legislation, Tax

Coalition will scrap Div 296 tax

Division 296 tax Legislation Parliament SMSF Self-managed superannuation

It has been confirmed the Division 296 tax will be revoked by the federal opposition should the coalition be returned to power at the next election.

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Pensions, Tax

Reversionary pensions impact $3m cap

Pension Non-reversionary pension Death benefit Division 296 tax Total superannuation balance

SMSF members who are death pension recipients can expect to have a reduced Division 296 tax liability if the income stream was non-reversionary.

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