News

ATO, Compliance & Regulation, Superannuation

Early access problems explained

early access SMSF

SMSFs unable to secure early access to their funds are likely to have outstanding returns, according to the ATO.

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Superannuation

SISFA recalibrates trustee offering

SISFA trustees membership

The Self-managed Independent Superannuation Funds Association (SISFA) has enhanced its membership offering for SMSF trustees and will add more services.

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ATO, Pensions

COVID-19 creates pension drawdown headache

low income pension

Trustees drawing pensions based off low-returning assets will still have to draw the minimum amount and cannot sidestep that requirement, the ATO has said.

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Retirement

Self-funded retirees call for govt help

government assist self-funded retirees

A retiree representative group has called on the federal government to assist self-funded retirees adversely affected by the coronavirus pandemic.

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LICs

LIC, LIT stamping fees banned

LIC LIT stamping fees

Listed investment companies (LIC) and trusts (LIT) will no longer be able to charge stamping fees from 1 July 2020 under new government ban.

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Australian Shares, International Shares, Investments

Worst probably over for share markets

share markets COVID-19

The worst seems to be over for stock markets suffering from the economic effects of the COVID-19 pandemic, a global fund manager has forecast.

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Residential Property

Huge jump in residential property vacancies

residential property vacancy rate

The national residential rental vacancy rate significantly increased in April, according to the latest property research.

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Superannuation, Tax

Retaining rent charge not NALI

SMSF rent NALI

An SMSF landlord that does not reduce a tenant’s existing rent expenses will not trigger a breach of the non-arm’s-length income (NALI) rules.

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Commercial Property, Residential Property

ATO flags SMSF property development concerns

ATO SMSF property development

Property development via an SMSF is a legitimate investment, the ATO has said, but it is concerned about schemes moving funds into super or damaging retirement incomes.

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Superannuation

Broadening of early super access unlikely

Early superannuation access

Legislative amendments that would allow more Australians to access their superannuation benefits early as a COVID-19 economic relief measure are unlikely, according to an industry body.

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