A new law will level up the playing field for divorcing couples to ensure both partners have fair and equitable access to superannuation, particularly during acrimonious family court proceedings.
SMSF property development is layered with complexity. There are four main ways an SMSF may structure a property development investment or arrangement.
Superannuation fund trustees who receive compensation from financial institutions and insurance providers must consider how receipt of these payments may impact a member’s contribution caps.
SMSF trustees must get ready to process rollovers via SuperStream by 1 October 2021. This means trustees will no longer able to send and receive paper rollover benefit statements and cheques between superannuation funds.
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.
Recent legislative reforms to the superannuation arena are set to change the retirement savings landscape for many Australians.
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 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.
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.
Making extra before-tax contributions into super can help boost a person’s retirement savings. But fund members need to be aware of the implications for when they exceed the concessional contributions cap.
Most people think of retirement as a time to put your feet up and relax, but it can also be a time when pre-retirees and retirees alike actually need to flex the grey matter.
The latest annual statistical report from APRA has been released, covering the 2020 income year but only made public at the end of January 2021. Total superannuation industry assets were $2.9 trillion as at 30 June 2020. Of this total, $1.9 trillion was held by APRA-regulated superannuation entities and $0.7 trillion was held by self-managed