Common sense has prevailed with the scrapping by Treasury of the proposed changes to require financial reporting of SMSFs to be completed 45 days prior to the SMSF Annual Return. In our previous blog post, ‘proposing to move the goal posts for SMSF financials’ I wrote about the impact of these proposed measures and the…
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The Final Report of the Retirement Income Review was recently released (20 November 2020) by Treasury which covered the current state of the retirement income system and how it will perform in the future as Australians live longer and the population ages. As part of the SMSF Adviser Show, co-hosts, Aaron Dunn and Miranda…
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As we approach the end of a challenging 2020, it is with great excitement to announce the launch of the SMSF foundations course, built by Smarter SMSF to help professionals grow their SMSF knowledge. The project started over a year ago in discussions with TOA Global Founder, Nick Sinclair about building a course to support…
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Treasury has released for consultation an exposure draft of the Your Future, Your Super package with looks at the following key areas: Best Financial Interests Duty Single Default Accounts; and Underperformance The Government’s Your Future, Your Super package – announced in the 2020-21 Budget – is targeting reforms to the superannuation system that intends on…
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The Australian Taxation Office (ATO) has now registered SPR 2020/2 which applies to the trustee(s) of a SMSF where the fund acquires an in-house asset from a deferral of rental income under a lease due to COVID-19. This determination became effective from 27 November 2020. As a result of the financial impacts of COVID-19, some…
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