Category Archives: SMSF Info

NEWS – Payday super could be used to update the SG system – submission

Posted on November 22, 2023 by SuperBenefitnews

Several financial and accounting industry bodies have made a submission to Treasury to use the introduction of the new Payday Super scheme to update the SG system efficiency. Here is a report at sms.magazine.com.au by Jason Spits. The government should … Continue reading →

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NEWS – Is an Inflation Resurgence likely? – Some key indicators

Posted on September 15, 2023 by SuperBenefitnews

While it may seem like the fight against inflation has been won by central banks, some recent leading indicators of inflation have ticked up again which could indicate that inflation may have a resurgence in late 2023/early 2024 which could … Continue reading →

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NEWS – Fairer super and stronger budget – Grattan Institute

Posted on April 16, 2023 by SuperBenefitnews

In its latest report titled Super savings: Practical policies for fairer superannuation and a stronger budget, the Grattan Institute shows super tax breaks cost the budget $45 billion a year – or about two per cent of GDP – and will … Continue reading →

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NEWS – Current Super Rules Allow New Strategies to Reduce Taxable Components

Posted on April 15, 2022 by SuperBenefitnews

Current super rules allow new strategies enabling fund members to reduce their taxable components, but take care what steps are taken. BT Financial Group SMSF strategy national manager Neil Sparks said the introduction of bring-forward rules and downsizer contributions created … Continue reading →

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NEWS – Call to re-think pension TBAR calculations for SMSFs

Posted on November 19, 2021 by SuperBenefitnews

With the ATO looking to streamline the transfer balance account reporting (TBAR) framework, the new changes can explore the potential to reshape new accuracy for pensions commencements in SMSFs. The ATO had recently flagged that it is seeking feedback on moving … Continue reading →

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NEWS – Work test stops 2022 for 67yo-74yo contributions non-concessional (but applies for concessional)

Posted on June 4, 2021 by SuperBenefitnews

The (Australian) federal government will remove the work test for people aged 67 to 74 when making or receiving non-concessional contributions (no tax benefit claimed) into superannuation as part of a budget measure to boost the retirement savings of those … Continue reading →

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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 – 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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