smsfs

  The ATO has issued guidance on its approach to commutation requests, which is an essential piece of information for SMSF trustees because it explains which commutation requests will not be subject to an ATO review. The practical compliance guideline concerned is PCG 2017/5. With recently introduced superannuation rules now in effect (from 1 July

• 15 November, 2018

  The ATO has announced that it is reviewing arrangements where members of an SMSF (typically at, or approaching, retirement age) purport to divert income earned from their personal services (that is, PSI) to their fund, which results in minimising or even avoiding tax altogether on that income. The ATO says these arrangements typically display

• 31 October, 2018

  Many tax agent and accounting industry representative bodies, including Tax & Super Australia (TSA), have been pushing for the re-instatement of the accountants’ exemption (see TSA’s submission to the Royal Commission here). But it seems that any discussion on the matter, let alone reaching any decision, is not going to occur any time soon.

• 29 October, 2018

  The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (to give it it’s full name, but we can just call it the Commission) has provided a steady diet of horror stories and shone a not-too-pleasant light into the murky world of corporate financial advice. While no sector came out unscathed,

• 2 October, 2018

  How much do you need to retire? When it comes to superannuation and retirement savings, it seems that size really does matter. There are other considerations of course, but for the most part the focus will be on finances when people aim to “improve” their post-work life prospects. The question of how much retirement

• 21 August, 2018