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Super

Build a strong path to wealth with our superannuation news and insights.

The SMSF sector has been growing by $62,400 every minute

The latest annual statistical report from APRA has been released, covering the 2020 income year but only made public at the end of January 2021. The report of course mainly focuses on

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Super Tax

Tax and SMSF audits on ATO radar, but leniency given

Late last year, the ATO told a parliamentary Senate Select Committee on COVID-19 that its plans were to start tax audits as soon as practical. Time and efforts however were diverted to the

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Super Tools

Payment factors for market linked income streams

The below contains the payment factors for market-linked income streams contained in Schedule 6 “Payments for market-linked income streams” of the Superannuation Industry

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Super

Taking advantage of the SG amnesty, for some employers, has one more hurdle

At the time when the superannuation guarantee amnesty measure ran its course (it expired 7 September 2020), the Assistant Minister for Superannuation Jane Hume reported the amnesty resulted in

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Super

ATO takes aim at ‘you-scratch-my-back’ auditing arrangements

It has long been an accepted standard that the auditor of an SMSF needs to be independent of that fund, and be a third party entity to the SMSF. This requirement is written into the SISR

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Super

ATO says it will not impose penalties for SMSF asset valuations during COVID-19 due to lack of evidence

When SMSF trustees prepare the financial statements and accounts for their fund, they must report the fund assets at market value to comply with regulation 8.02B of the Superannuation Industry

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Press Releases Super

SG Amnesty could have boosted retirement savings for even more

by John Jeffreys Tax & Super Australia (TSA) believes the SG Amnesty would have likely returned even more retirement savings to Australians if it was extended to operate beyond the most

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Super Tools

Some ATO forms that SMSF trustees may need

SMSF trustees may find that occasionally a particular form is needed to be able to complete an administrative task for the ATO. Rather than have you searching the vast labyrinth of the ATO’s

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Super

SG penalty remissions: How not to trip up, post-amnesty

The ATO has published draft law administration practice statement PSLA 2020/D1 – remission of additional superannuation guarantee charge. With the SG amnesty now expired, so too has the ability

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Super

SMSF regulations to allow six members under new legislation

A bill has been introduced, the Treasury Laws Amendment (Self Managed Superannuation Funds) Bill 2020, that partially implements the measure to allow an increase in the maximum number of

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Super

The ATO service SuperMatch was suspended, but now starting again

SuperMatch had been offered by the ATO as a service to connect APRA-fund trustees with information about super fund accounts, including lost member accounts and any ATO-held money belonging to

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Super

Client’s super fund covers insurance needs? With COVID-19, maybe not (even some SMSFs)

As part of its economic response package to the COVID-19 pandemic, the government implemented a new temporary measure to allow individuals affected by COVID-19 to access up to $10,000 of their

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Super

The realities of the cash flow boost

Lost your tax file number? Here’s what to do

JobKeeper: Your questions answered

Client: “Where’s my tax refund?” Explaining timeframes, key terms, and possible reasons for delays

Daily updates: 2-6 November

From the Blog

The SMSF sector has been growing by $62,400 every minute

Tax and SMSF audits on ATO radar, but leniency given

Payment factors for market linked income streams

Taking advantage of the SG amnesty, for some employers, has one more hurdle

ATO takes aim at ‘you-scratch-my-back’ auditing arrangements

ATO says it will not impose penalties for SMSF asset valuations during COVID-19 due to lack of evidence

SG Amnesty could have boosted retirement savings for even more

Some ATO forms that SMSF trustees may need

SG penalty remissions: How not to trip up, post-amnesty

SMSF regulations to allow six members under new legislation

The ATO service SuperMatch was suspended, but now starting again

Client’s super fund covers insurance needs? With COVID-19, maybe not (even some SMSFs)

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