News

ATO, Compliance & Regulation

New compliance guidance imminent

SMSF compliance guidance

New compliance guidance materials are being formulated by the ATO, one of which marks a change in approach with education directions.

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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.

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ETFs, Investments

Asset scrutiny critical to sound ETF selection

ETF assets

Understanding the underlying assets of an ETF is important to allow investors to properly assess the offering in question.

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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.

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Investments

Private credit opening as bond alternative

fixed income alternative

Investors should be looking for new areas of fixed income returns as traditional sources have become too aligned with the share market.

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Pensions, Retirement

Standard minimum pension level returns

Minimum pensions

The recent budget gave the industry a very good indication that minimum pensions will be returning to pre-COVID rates from 1 July 2023.

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Investments, Strategy

Identification of quality of most benefit

Quality stocks

Investors should look to buy quality shares and assess this characteristic in the context of where a particular company is headed in the future.

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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.

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NALI/NALE

Govt amends NALE penalty

NALE penalty

The government has amended its proposed penalty for breaches of the NALE rules, but appears to be pushing ahead with plans to only apply them to the SMSF sector.

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Pensions

Legacy pensions a missed opportunity

legacy pensions budget

Having no reference to the issue of legacy pensions in the 2023 federal budget has been labelled as a missed opportunity given other super measures.

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