Tax Summary

100 years of educating tax professionals.
Get the centenary edition now.
CPD Pro

The easiest way to meet your yearly CPD requirements.
Tax Agent Program

Looking for a future in tax? Launch your career with our tax agent program.

Super

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

ASIC concerns lead to robo-advice tools being shut down

A Sydney-based AFSL holder has agreed to close some of its digital advisory offerings after ASIC made approaches to it with concerns over the quality of advice distributed by the robo tools. The

[ Read More ]

Super

ATO “heavy focus” on SG obligations starts by targeting small sample of employers

The ATO’s Deputy Commissioner, Superannuation and Employer Obligations, James O’Halloran, has announced in a speech to the Australian Institute of Superannuation Trustees (AIST) that with the

[ Read More ]

Super

LRBA amounts now included in TSB calculation

The calculation of an individual’s total superannuation balance (TSB) will now include, in certain circumstances, the outstanding LRBA amount attributable to each member’s interest where

[ Read More ]

Super

NALI ambiguity dealt with by ATO, with a tightening of “expenditure” treatment

Non-arm’s length income (NALI) determinations from the ATO must crop up now and then in SMSF trustee nightmares, particularly in regard to LRBAs. While the NALI provisions are an accepted

[ Read More ]

Super

SG amnesty idea re-surfaces, but with an extended period of application

Last year’s 24 May announcement of an amnesty for employers who come forward to correct underpayments of their super guarantee obligations has been resurrected in a new bill. The Treasury Laws

[ Read More ]

Super

Contribution paid this year, but trustee wants to allocate to next year? There’s a form for that

The ATO has in place a ruling that can allow a superannuation contribution to an accumulation account made in one financial year to be deemed to “take effect” (that is, allocated to a particular

[ Read More ]

Super

Drawdown rates: Too high, too low, about right?

Once one of your clients starts a pension, there is a legislated minimum amount required to be paid out each year. There is no maximum amount other than the balance of their super account, unless

[ Read More ]

Super

The SMSF sector is growing by $23,200 every minute

The latest statistical report from APRA has been released (here’s a link to download it), which of course mainly focuses on the APRA-regulated superannuation funds in the retail and industry

[ Read More ]

Super

Super downsizer scheme: The take up so far (and some common errors)

The “Reducing Pressure on Housing Affordability Measure” — a bill with a second part that is otherwise known as the super downsizer scheme — started on 1 July 2018 and has allowed older

[ Read More ]

Super

More of us are lining up to retire, despite shrinking savings

A Roy Morgan survey conducted over calendar 2018, and published in the second quarter of 2019, indicates that the number of people intending to retire within a year had increased by 6% on the

[ Read More ]

Super

After TBC indexation (it’s on horizon), members could have a ‘personal’ cap

The ATO’s deputy commissioner, superannuation and employer obligations, James O’Halloran, recently spoke at the Association of Superannuation Funds of Australia’s (ASFA) 2019 National

[ Read More ]

Super

SMSF trustees: Your investment diversification, or otherwise, is coming under scrutiny

The ATO has stated its intention to write to about 18,000 SMSF trustees and their auditors near the end of August where its records indicate that the concerned fund may not be adhering to the

[ Read More ]

Super

Drawdown rates: Too high, too low, about right?

Tax on the Whiteboard: Distributions from foreign trusts

Tradies: Some tax claims pivot on how you operate

SMSF event-based reporting: What needs to be reported, what doesn’t

Tax on the whiteboard: The low and middle income tax offset

From the Blog

ASIC concerns lead to robo-advice tools being shut down

ATO “heavy focus” on SG obligations starts by targeting small sample of employers

LRBA amounts now included in TSB calculation

NALI ambiguity dealt with by ATO, with a tightening of “expenditure” treatment

SG amnesty idea re-surfaces, but with an extended period of application

Contribution paid this year, but trustee wants to allocate to next year? There’s a form for that

Drawdown rates: Too high, too low, about right?

The SMSF sector is growing by $23,200 every minute

Super downsizer scheme: The take up so far (and some common errors)

More of us are lining up to retire, despite shrinking savings

After TBC indexation (it’s on horizon), members could have a ‘personal’ cap

SMSF trustees: Your investment diversification, or otherwise, is coming under scrutiny

STAY UP TO DATE