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Key issues for SMSFs still in need of clarification

Among the superannuation reforms that many SMSF members are still coming to terms with is the introduction of a concept of “total superannuation balance”. On the surface, an individual may simply think that it is the sum of balances of their superannuation interests. However, this is not the case. Commissioner’s guidance on this matter includes

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Can an SMSF invest in property development?

The ATO has been sending some mixed messages about property development involving an SMSF, and has indicated that it is one of the issues on its radar for 2018. So is property development an allowable investment for an SMSF? The short answer yes, but be careful. A longer answer is be very careful — it

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Early release of super savings under review

On 8 December 2017 the government announced that Treasury will conduct a review of the rules governing the early release of superannuation benefits, including for victims of crime compensation. The government says the rules governing early release of superannuation benefits have not changed substantially since 1997. “The superannuation system has come a long way since

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The superannuation clearing house service to join other ATO online services

The Small Business Superannuation Clearing House will join existing ATO online services in mid-to-late February 2018. The ATO says its online services gives access to a range of tax and super services with one logon, including lodging activity statements and updating your business registration details. The current super clearing house service will still be available

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