Edition 2
May – August 2023
Compiled by the SMSF Association’s technical team, this Technical Newsletter provides a snapshot of key SMSF legislative and technical developments which have occurred since April 2023.
It provides commentary and important links to legislative references and SMSF Association submissions.
Features:
- Minimum pension requirement –
account-based pensions - TBAR Reporting
- LRBA Safe Harbour – Interest rates
- Rollovers – SuperStream
- Increase in value of penalty units
- Deductibility of personal super contributions and the work test
- NALI Case
- Disqualified Auditors
- Valuation of fund assets
- Non-arm’s length income (NALI) – Interaction with CGT provisions
- Re-structuring market linked pensions
- Non-arm’s length expenses (NALE) – Draft legislation
- Property development – ATO Taxpayer Alert
- Disqualified trustees register updated
- First Home Super Saver Scheme (FHSSS) – Improved flexibility
- Transfer Balance Cap – Proportional indexation
- Illegal Early Access to Super
- ATO Statistics – SMSF quarterly statistical report (March 2023)
- Validity of Binding Death Benefit Nomination (BDBN)
The contents of this resource are taken to be correct at the time of publication.
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Disclaimer: Technical Papers contain general advice only and are prepared without taking into account particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should assess its relevance to the individual circumstances of your client. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the Corporations Act 2001. © SMSF Association