Category Archives: News & Stats

NEWS – Satisfaction with SMSF increases over commercial funds, with Public Funds highest level

Posted on December 18, 2020 by SuperBenefitnews

Consumer satisfaction with superannuation has risen for the first time since the start of the COVID-19 pandemic with SMSF members reporting the highest increase in the levels of satisfaction, according to ongoing Roy Morgan surveys. The research firm stated as … Continue reading →

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NEWS – Aust. Federal Budget 2020 – Summary for our Super and Seniors

Posted on October 9, 2020 by SuperBenefitnews

In his Federal Budget delivery Tuesday 6 October, the Treasurer Josh Frydenburg outlined numerous measures aimed at rebuilding a Covid-devasted economy by creating and supporting jobs, encouraging spending, improve our super and support seniors. There are key changes in Super … Continue reading →

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NEWS – Coronavirus Support Package SIMPLIFIED – Stimulus Package 12 & 22 March 2020

Posted on March 30, 2020 by SuperBenefitnews

Summary Due to the Coronavirus COVID-19 significant economic consequences, the Australian Government has enacted a response that was passed in Parliament this week, to support individuals, households, businesses and broader community. Here is a comprehensive summary of several ATO Treasury … Continue reading →

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NEWS – Retirement reforms do not require major changes – Rice Warner

Posted on February 18, 2020 by SuperBenefitnews

The current Retirement Income Review in Australia is looking at the system and what improvements may be required, but one actuary firm says the reforms do not require major changes. Darin Tyson-Chan at SMSmagazine reports – Submissions to the Retirement … Continue reading →

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NEWS – Increased scrutiny of the regulator – ATO – good for the SMSF sector

Posted on December 13, 2019 by SuperBenefitnews

The increased scrutiny of SMSFs by the ATO has been positive for the sector and will add to its long-term success, according to SMSF technical specialist Heffron, which also praised the regulator for its work to date. Heffron managing director, … Continue reading →

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NEWS – ATO proposes to include SMSFs in Real-Time reporting

Posted on October 21, 2019 by SuperBenefitnews

As SMSF trustees who run their Self-Managed Super Fund (SMSF) we need to keep up with new developments to stay up to date and be prepared and proactive. With the moves towards integrity and accuracy in the superannuation industry in … Continue reading →

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NEWS – The $450 rule of no super to pay affects 400,000 people

Posted on August 21, 2019 by SuperBenefitnews

If an employee earns less than $450 in a MONTH, there is no obligation to also pay any super for the employee, by the employer. But there can be people who work multiple part-time jobs and will miss out some … Continue reading →

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The ATO has updated its valuation guidelines in order to clarify when a reasonable estimate can be used for valuing pension assets when reporting to the ATO

Posted on May 31, 2019 by SuperBenefitnews

SMSF Advisor reports – In an updated version of its valuation guidelines, the ATO has clarified that SMSF professionals and their clients can use a reasonable estimate for determining the value of assets that support a pension when reporting to … Continue reading →

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NEWS – Pension phase to become redundant??

Posted on March 18, 2019 by SuperBenefitnews

A sector strategist has suggested drawing a pension from an SMSF may no longer be necessary if Labor’s change to refundable imputation credits is introduced. “I Love SMSF” founder Grant Abbott told delegates at his recent strategy session in Sydney … Continue reading →

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NEWS – TRIS – Transition to retirement (or TTR) now seen as a short-term strategy

Posted on September 17, 2018 by SuperBenefitnews

Darin Tyson-Chan at smsmagazine.com.au reports on advice by Grant Abbott who said a Transition to retirement income stream (TRIS) or Transition to Retirement (TTR) is now seen as a short term strategy with recent changes in the last 12 months. … Continue reading →

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