Budget Super Changes now Law
The Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016 and the Superannuation (Excess Transfer Balance Tax) Imposition Bill 2016 have today been passed by parliament.
Does a Binding Death Nomination override a Reversionary Pension?0
When a member passes away, it is the role of the surviving Trustees to determine who should receive the member’s super benefit and in what form.
Are your SMSF clients’ LRBAs ATO compliant?
Non-commercial SMSF LRBA arrangements are high on the ATO’s radar.
ATO intensifies its crackdown on SMSF auditor independence
At the CA Australian & New Zealand SMSF conference Assistant Commissioner Kasey Macfarlane announced that the ATO will be increasing its vigilance in three key areas...
Breaking News – Major Changes to Budget Proposal
The Treasurer has today announced major revisions to superannuation reforms as proposed by the 2016 Budget.
Requesting Clients’ Non Concessional Contribution balances from the ATO
The ATO has announced that from late August you will be able to request clients’ post 1 July 2007 NCC lifetime cap balance via the tax agent portal mail facility.
The Courts continue to crack down on delinquent SMSF Trustees
We reported last year that the ATO is seeking and the Courts are issuing large fines to Trustees for serious breaches of the SIS Act.
Major Changes to SMSF Contributions Rules
SMSF Contributions Rules: Implications and what to look out for