News

ATO

NALE compliance stance continued

ATO NALE compliance

The ATO will continue its practice of not deploying compliance resources to address non-arm’s length expenditure breaches of a general nature.

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Investments

Sound strategies a guide through volatility

investment strategies volatility

Investment strategies are a useful map through market volatility and prevent rash decisions being made.

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Contributions

Contributions error fixes gone

non-concessional contributions error

The ability to repay non-concessional contributions accepted in error by superannuation fund trustees will be eliminated on 1 July.

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Investments

Focus on assets rather than themes

assets investment themes

Investors should be looking at income-producing assets rather than investment themes to offset the impact of muted economic growth and rising inflation.

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Documentation

Trust deed dictates death benefits

trust deed death benefits

The detail included in an SMSF trust deed requires examination to understand the procedures that need to be followed regarding death benefit payments.

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ETFs

Access to smaller-cap market provided

Vaughan Nelson small cap ETF

Retail investors have been provided with an opportunity to hold the shares of small to medium-cap companies around the world via a new ETF.

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ATO, Investments

Investment strategies satisfactory

ATO investment strategies

Few investment strategies are falling foul of the required standards, but the ATO has recommended trustees not rely on template solutions.

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Technology

Director ID process flawed

director ID application

Advisers are recommending their clients use manual forms to apply for a director ID number due to the troublesome nature of the myGovID app.

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Residential Property

Downturn predicted in residential property

residential property

The first decline in residential property values in nearly two years is predicted to be start of a long-term downward trend driven by rising interest rates and inflation.

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Retirement

Retiree cost of living rises

living cost retirees

The cost of living for retirees has continued to increase off the back of higher prices, but has been in part offset by an age pension boost.

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