With the Reserve Bank of Australia opting to raise interest rates this month it’s a timely reminder of the economic decisions and developments that are completely outside the control of ordinary Australians, yet have a significant impact on their lives. The same can...
With the Federal Government’s changes to superannuation all but certain, including the taxation of unrealised gains, self-managed super funds (SMSF) should start preparing for a shift in the compliance environment, particularly around the reporting and valuation of...
With the introduction of Division 296 all but certain, SMSF Trustees should prepare for a shift in the compliance environment, particularly around the reporting and valuation of fund assets. While Division 296 will target superannuation earnings on funds with balances...
Despite the Federal Government claiming changes to superannuation will make the system ‘more sustainable and fairer’, closer examination of the draft legislation reveals the measures are actually inequitable and unsustainable in the long term. At a simple level, plans...
When accessing superannuation benefits, one of the key matters to verify is the preservation status of members’ benefits. Generally, member benefits are preserved, especially for those who aged under 65 years with their accounts are still in accumulation or...
A superannuation fund is prohibited from purchasing assets from a related party except under certain circumstances. However, section 66 (2B) (b) (i) provides an exemption which allows a trustee to acquire assets from a related party in the event of a divorce or...
