Edition 4
April 2024
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 January 2024.
It provides commentary and important links to legislative references and SMSF Association submissions.
Features:
- Valuing fund assets correctly for the SMSF annual return
- Auditor appointment
- Quarterly TBAR Reminder
- NALE Bill
- Director ID Number and ASIC action
- Superannuation Rates and thresholds for 2024-25
- Better targeted superannuation concessions (Division 296 Tax) – Regulations released
- ASIC takes actions against auditors
- Small Business Superannuation Clearing House (SBSCH) – Bank account verification
- Cost of living tax cuts Bill
- Trustee Disqualifications
- Superannuation on Paid Parental Leave
- Better targeted superannuation concessions (Division 296 Tax) – Senate Inquiry extended
- ATO statistics – SMSF quarterly statistical report (December 2023)
- Illegal Early Release (IER) Estimate – ATO
- And more!
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