Category: Blogs

Legacy Pension Amnesty now law

Late last week the SMSF sector was handed a somewhat unexpected, but much welcomed, early Christmas present. But this gift was richly deserved – just reward for your Association’s extensive […]

Division 296 – the walking dead!

To borrow and slightly misquote former British Prime Minister Harold Wilson, 24 hours is a long time in politics. Certainly, it seemed that way to me yesterday as I traversed […]

The ATO’s Tough Stance on Illegal Early Release Schemes – What SMSF Professionals Should Know

Before diving into the details, let me just say up front – I’m not a lawyer. What follows is my take on the recent developments in the ATO’s approach to […]

New TPB code obligations issued by Minister

On 1 July, Minister Stephen Jones signed a new legislative instrument that will expand the code of ethics applicable to registered tax and BAS agents. The Tax Agent Services (Code […]

We’re all on the same team so why doesn’t it feel like it

Last week, in announcing the Super Members Council’s (SMC) support for the Delivering Better Financial Outcomes (DBFO) bill, chief executive Misha Schubert said the legislation, and, more specifically, changes to […]

LRBAs – fact or fiction

Those two old hoary chestnuts – LRBAs are a systematic risk to the superannuation system and are crowding young buyers out the housing market – are doing the rounds again, […]

The quiet death of the Low-rate cap

It will come as no surprise that superannuation’s preservation age has been gradually increasing, in accordance with the schedule outlined in Table 1 below. However, this gradual increase in preservation […]

ATO releases updated superannuation rates and thresholds

Each year, several key superannuation rates and thresholds are indexed in line with movements to Average Weekly Ordinary Time Earnings (AWOTE) or the Consumer Price Index (CPI). Following the recent […]

ATO makes changes to the Small Business Superannuation Clearing House

The ATO is set to implement a pivotal update within the Small Business Superannuation Clearing House (SBSCH) on 15 March 2024. This initiative introduces SMSF bank account validation aimed at […]

Contribution caps to increase from 1 July 2024

Following the release of the latest Average Weekly Ordinary Time Earnings (AWOTE) index, the expected increase to the contribution caps from 1 July 2024 has been confirmed. As a result, […]