Smsf

Government backflips on major elements of the proposed superannuation tax reforms

The announcement today by the Government on the tempering of superannuation changes has delivered mixed news for Australian taxpayers.Government backflips on major elements of the proposed tax reforms Tax & Super Australia CEO Moti Kshirsagar says he fully supports the abandonment of the proposed $500,000 retrospective cap, as well as the corralling of $1.6 million

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$500,000 cap scrapped — and other superannuation “changes” announced

First of all, one wonders what has stayed the same in the rolling circus of superannuation reforms. $500,000 cap scrapped — and other superannuation “changes” announced The government has just announced what it terms “improvements” to the superannuation announcements that it made in the 2016-17 federal budget. In a media statement, Kelly O’Dwyer, Minister for

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A well-provided retirement? Rely on investment returns, not contributions

The contentious area of contribution caps is something that many SMSF trustees grapple with, but a new report may re-cast this as an overdone concern, especially regarding the eventual level of retirement savings that members end up with. A related factor (about which many may have already pondered) is how much of one’s eventual total

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Is breaking up harder for couple members of an SMSF?

Breaking up a marriage or relationship is hard on many levels, and the money put aside in superannuation is another (often substantial) asset that needs to be dealt with when couples have to consider dividing possessions in the event of a split. Naturally there are regulations drafted to deal with dividing super fund interests, however

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SMSFs win gold in retirement savings race

Our Olympian contingent arrived back home from Rio with a collective 29 medals, eight of them gold, securing Australia 10th place overall. But our Olympic champions can take extra comfort in knowing that they are back in a country where self managed superannuation funds are consistently taking 1st place and standing on the highest podium

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Proposed non-concessional cap reform a drag on ATO resources

In a speech given to a national SMSF conference, ATO deputy commissioner for superannuation James O’Halloran admitted that the government’s budget superannuation changes, even though these are yet to pass Parliament, are already having a significant impact on the ATO’s capacity to cope. “We have already seen some examples of these increased expectations emerging with

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Myth busted: Retirees tend to not run down super savings quickly

A report released by the Actuaries Institute last week on retirement income showed that drawdown behaviour of retirees are similar across the board, regardless of the size or type of retirement savings accounts. Retirees super savings quickly The Actuaries Institute’s Retirement Income Market Report, which it labelled as “the most comprehensive study of Australian superannuation

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Super schemes: If in doubt, check it out

The ATO says about super schemes, if in doubt, check it out. The ATO says it has seen an increase in aggressive tax planning schemes targeting retirement savings, at a time when more than one third of Australians are approaching retirement and are looking at ways to maximise their retirement assets and income. Super schemes doubt

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Taxpayers Australia becomes Tax & Super Australia

Keeping up with the rapidly changing tax and super landscape To reflect our changing focus over time, Taxpayers Australia Ltd is now Tax & Super Australia. We are more dedicated than ever in our efforts to support and empower tax and super professionals. After an extensive re-branding exercise, we’ve developed a new visual identity. The

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