News

Superannuation

SMSF returns on par with APRA funds

SMSF performance

SMSF performance against APRA funds has been skewed by reporting methods and funds with balances above $200,000 perform as well as their non-SMSF counterparts.

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Regulation

Budget super measures become law

superannuation parliament

A number of key measures from the last budget have passed through parliament, while others remain in limbo before the next election.

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Compliance & Regulation

Director ID penalties are severe

director ID penalties

Directors of corporate SMSF trustees have been warned severe penalties can be issued for non-compliance with the new director ID regime.

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Investments

Portfolio diversity not a legal requirement

investment diversity SMSFs

The ATO has made SMSFs aware of the lack of diversity in investment portfolios, but this is not a legal obligation that must be met.

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Business news

LRBA cost deductions limited

LRBA deductions

Limits apply to the tax deductibility of expenses related to setting up an LRBA, with the ATO viewing legal advice as outside the deduction provisions.

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Currency

Cash most popular SMSF asset

SMSF cash

Listed shares have been a popular investment allocation for SMSFs, but cash and term deposits appear in almost every fund.

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Business news

ATO prompts on record-keeping, returns

ATO record returns

The ATO has reminded trustees that good record-keeping and the on-time lodgement of SMSF annual returns are legal requirements.

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Australian Shares, International Shares

Rising rates reshape share considerations 

interest rates share market

Share market investors should consider the risk of holding long-duration shares in their investment portfolios as interest rates are predicted to climb.

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Business news

Super praised for COVID-19 role

superannuation COVID-19

The federal opposition has acknowledged the critical role superannuation was able to play during the height of the COVD-19 pandemic.

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Retirement

Retirement living standard cost rises

Retirees living cost

The cost of living for retirees increased by the highest rate for a decade during 2021 due to price rises on non-discretionary purchases.

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