New legislation will ensure that when an employee moves jobs, the super fund they used with their former employer will be ‘stapled’ and will automatically follow them.
Stapling super: Reducing multiple accounts for employees
![Employee Super](https://tnr.com.au/wp-content/uploads/2021/09/Employee-Super-1024x275.jpg)
New legislation will ensure that when an employee moves jobs, the super fund they used with their former employer will be ‘stapled’ and will automatically follow them.
Who can (and can’t) be part a family group for the purpose of making a family trust election (FTE)?
A trust is not a legal entity. It is best described as a legal “relationship” that is controlled by the trustee of the trust under the terms of the trust deed.
Although the ATO deems flight rewards received under consumer loyalty programs are generally not taxable, it notes that FBT may apply in some instances.
Recent legislative reforms to the superannuation arena are set to change the retirement savings landscape for many Australians.
Partnerships are generally set up so that all partners are equally responsible for the management of the business, but each also has liability for the debts that business may incur.
While most people look forward to receiving a tax refund once their return is processed by the ATO, it is also not unheard of to receive a tax bill on occasion.
There will most likely come a time when your SMSF will need to be wound up. We outline the necessary steps and possible tax implications.
The ATO allows certain taxpayers to claim a deduction for the cost of buying and cleaning occupation-specific clothing, items of protective wear and for certain unique, and usually distinctive, uniforms.
The ATO recently clarified the evidence that is required to support real property valuations within SMSFs, particularly in light of the unique challenges brought about by COVID-19.
The ATO has recently updated its guidance material on the operation of the personal services income (PSI) and personal service business (PSB) rules.
Anyone 18 years old or over can be a trustee or director of a super fund as long as they’re not under a legal disability (such as mental incapacity) or a disqualified person.