News : Tax

Contributions, Superannuation, Tax

$3m cap shouldn’t stop inflows

Contributions

Trustees should continue to contribute to their superannuation accounts as not doing so would not be a prudent strategy to adjust to the proposed super earnings tax.

read more
SMSF, Superannuation, Tax

Trustees dislike $3m soft cap

SMSF trustees $3 million tax

A recent sector survey has found nearly half of SMSF members believe the proposed $3 million soft cap is a bad policy initiative.

read more
Investments, Regulation, Tax

ASA welcomes franking credit decision

Franking credits

The Australian Shareholders’ Association believes the proposal to limit franking credits from capital raisings is unnecessary and requires clearer guidance to avoid unintended consequences.

read more
Regulation, Superannuation, Tax

Govt adamant about super tax elements

Superannuation earnings tax

The superannuation earnings tax is all but locked in and highly unlikely to change, with officials stating key aspects were non-negotiable.

read more
Superannuation, Tax

Soft cap risks double taxation

Super earnings double taxation

The earnings tax on superannuation balances above $3 million is a wealth tax and will subject fund members to a form of double taxation.

read more
ATO, Superannuation, Tax

Personal TBC data available in July

personal TBC

Super fund members will be able to access their personal TBC details less than two weeks after the start of the new financial year, but should promptly report any outstanding information.

read more
Superannuation, Tax

No new detail on $3m soft cap

$3 million super tax

There has been almost no new detail included in the 2023 federal budget regarding the proposed new tax on total super balances above $3 million.

read more
NALI/NALE, Superannuation, Tax

Budget draws mixed reactions

Budget reactions

The superannuation sector has praised the federal budget in relation to measures to make super fairer, but has called for clarification on certain provisions.

read more
Retirement, Superannuation, Tax

Soft cap bias called out

$3 million discrimination

The government has been accused of showing bias against SMSFs in its proposal to implement a $3 million soft cap on superannuation members.

read more
ATO, Tax

ATO fixes work test irregularity

Work test

An anomaly that arose from the most recent amendment to the work test has been rectified after the release of a new legislative instrument by the ATO.

read more

Our Story

selfmanagedsuper is the definitive publication covering Australia’s SMSF sector. It uniquely offers online content tailored separately for SMSF professionals and individual trustees participating in the fastest growing and largest sector of the superannuation industry. As such, it is a must read for those wanting to stay informed about the latest news, regulatory developments, technical strategies, investments, compliance, legal and administration issues concerning SMSFs.

Copyright © SMS Trustee News 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital