ATO

Superannuation

How a person's legal history impacts eligibility to be a SMSF trustee

Peter Townsend points out the pitfalls with respect to the way a person's legal history can impact their eligibility to be an SMSF trustee....

Superannuation

SMSFs and the tightening rules on insurance and self-insurance

The regulatory controls on the manner in which SMSFs approach risk insurance coverage for fund members are tightening in a number of respects, writes Macquarie Adviser Se...

Superannuation

Lost super pool shrinking

The ATOs annual report showed lost super levels had fallen for the first time after $3.2 billion in retirement savings were reunited with members over 2011/12....

Superannuation

Complexity of SMSFs outpacing auditors

The complexity of the self-managed superannuation fund (SMSF) space is rapidly outpacing SMSF auditors, according to Chan and Naylor director of financial planning David ...

Policy & Regulation

D'Ascenzo completes seven-year term

Commissioner of Taxation Michael D'Ascenzo is stepping down from his role at the end of 2012 after a seven-year term, according to a Government statement....

Superannuation

Govt's mid-year super outlook a win for ASFA

The Association of Superannuation Funds of Australia (ASFA) has applauded the Federal Government's lack of tax tinkering in its Mid-Year Economic and Fiscal Outlook (MYEF...

Financial planning

MYEFO earns mixed response

The Federal Government has received a mixed response to the financial services and superannuation initiatives evolving out of its Mid-Year Economic and Fiscal Outlook (MY...

Superannuation

Govt increases SMSF levy in MYEFO

The Government has opted for only limited impacts on superannuation in its MYEFO approach, but has increased the SMSF levy....

Superannuation

Documentation key on reversionary pensions

A draft ruling released by the Australian Taxation Office (ATO) has highlighted the importance of having appropriate documentation in place to ensure a pension is reversi...

Superannuation

Draft rollover proposals may promote daily unit pricing, says ASFA

Industry bodies have taken issue with the exposure draft regulations for rollovers and contributions in submissions to Treasury that take aim at the three-day performance...

Superannuation

MLC warns of another potential spike in cap breaches

Although recent data show a significant drop in concessional contribution cap breaches, MLC has warned those numbers could spike again once the second halving of the caps...

Superannuation

Appropriate SMSF trustee combinations and dispute resolution

A recent NSW Supreme Court case highlights the importance of appropriate trustee combinations as well as strategic mechanisms that assist when trustees don't agree. David...

Superannuation

ICAA points to new year-end valuation regime

Institute of Chartered Accountants superannuation specialist Liz Westover has pointed to new regulations having been finalised requiring SMSF trustees to report fund asse...