News
Tax Institute calls for delay to enforcement of NALE rules
The Tax Institute has called for enforcement of changes to non-arm’s length expense (NALE) rules to be delayed until 1 July 2020, suggesting the ATO’s
December 5, 2019
The Tax Institute has called for enforcement of changes to non-arm’s length expense (NALE) rules to be delayed until 1 July 2020, suggesting the ATO’s
New catch-up contribution rules can be used to assist clients with large amounts of assets locked in to defined benefit pensions, according to Colonial First
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
Making sure an SMSF passes the sole purpose test (SPT) is one of the cornerstones of operating a compliant SMSF. One of the most important
The ATO may consider further action to spur on SMSF trustees to lodge their annual returns on time, including making funds non-complying where after repeated
Retiree clients looking to sell their property can often contribute more to their SMSF than expected through the government’s recently introduced downsizer contribution rules, due
The ATO is urging SMSF trustees to take quick action around any excess transfer balance determinations or commutation authorities received in October to avoid any
There has been a number of commentators suggesting that if a pension reversion nomination conflicts with a binding death benefit nomination (BDBN), the pension reversion
The federal government will introduce a single disciplinary body for financial advice, forcing the FPA and AFA to abandon their attempts to become a code
SMSF numbers have tripled over the past two decades and assets held within them now represent a third of Australia’s total superannuation pool, according to
The Alliance for a Fairer Retirement System (the Alliance) has welcomed the federal government’s Review into the Retirement Savings System and has put forward five
The ATO has released updated guidelines for trustees around how to make changes to their SMSFs within a compliant framework. The new guidelines contain details
The ATO has sent letters of concern to approximately 17,700 SMSFs that hold 90 per cent or more total investments in a single asset or
Recent market volatility and the aftermath of the royal commission has prompted many Australians to look a little closer at their superannuation fund and their
A new ASIC report has highlighted demand for further advice on the specifics of SMSFs among the Australian population, particularly among those who have a
ATO warns trustees with poor diversification to review strategy. After announcing that it will be writing to SMSF trustees with a high concentration of one