superannuation

The super issues that matter most to Tax & Super Australia members

A poll of SMSF and superannuation professionals has revealed the most important issues facing clients in the face of recent reforms. The super issues that matter most From the second week of January until the end of February, Tax & Super Australia ran a poll on this website that asked the question: “Which of the

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SMSFs: The upward march continues

The ATO has just released the latest of what has become a series of annual publications. The report, Self-managed superannuation funds: A statistical overview, started being published in late 2011 and has become an anticipated event for many in the SMSF arena — containing as it usually does some good news. The statistical report is

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Large assets in an SMSF? Scaling back pensions should not pose a problem

Amid the reports of SMSF trustees selling real estate in droves, it may be worthwhile for tax and superannuation professionals to step back, identify clients most likely needing to scale back their pensions, and see the best methods that may be suited to particular client’s circumstances. One issue of concern that keeps being raised time

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Super changes you need to be prepared for

The government has released exposure draft regulations aimed to complement the recently enacted reforms Superannuation reform package – regulations. The submissions are open until February 10. Super changes you need to be prepared for  Super changes you need to be prepared for prepared for for The exposure drafts also include regulations in respect of the

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Super performance satisfaction down, but SMSFs lead the pack

New research from Roy Morgan has found that in the six months to last November, overall satisfaction with the financial performance of superannuation was 58.4%, unchanged from October but down by 0.9% points over the year. However, only 18.5% of fund members said that they were “very satisfied”, down from 19% a year ago. Super

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Overview of superannuation system changes for SMSFs

The changes to the super system, announced by the government in the 2016–17 federal budget, have now been passed by Parliament. Overview of superannuation system changes for SMSFs. As reflected in the name of the legislation, the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016, these changes were designed to improve the sustainability and

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How to keep your SMSF compliant even while travelling

Are you an SMSF trustee who loves to travel? Sounds like a great lifestyle, however while planning your summer break you need to be aware that there can be negative consequences if you are out of the country for too long. How to keep your SMSF compliant even while travelling If you are a trustee

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Assessing the super system’s performance, according to the PC

The Productivity Commission (PC) has finalised its comprehensive report to assess the efficiency and competitiveness of Australia’s $2 trillion superannuation system. You can download the complete paper here (although it’s 3,142KB — click here for the 646KB executive summary). Assessing the super system’s performance, according to the PC The PC points out that the superannuation

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SMSFs need to prepare for the new transfer balance cap

Recent legislation has introduced several superannuation rule changes. Among them is a new “transfer balance account”, which each recipient of a superannuation pension will be required to have. In other words, individuals receiving superannuation income stream benefits will need to keep a transfer balance account. The use of “accounts” for tax law purposes is not

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A super legislative tsunami is heading our way

A super legislative tsunami is on its way The bills proposing changes to the superannuation system were introduced into Parliament last week, on November 9. The Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016 (you can read the details here) contains the vast majority of the changes to the regulation and taxation treatment of

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