Just like in Star Wars IV (actually, it was the first episode in the series made back in 1977), the Coalition Government in winning the Federal election has provided a ‘new hope’ for the SMSF industry. There was genuine concern about just what impact a Labor Government would have had for the sector, given that…
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The Australian Taxation Office (ATO) has formally announced that they will be streamlining transfer balance account reporting (TBAR) for self-managed super funds (SMSFs) from 1 July 2023. This follows consultation with the community, industry, and tax professionals on streamlining the lodgement of transfer balance account event-based reporting for all SMSFs. As a result of the…
DetailsThe introduction of the super reforms have meant that 2017 has been one of the busiest years in recent memory. As we continue with implementation of these measures, this time at the end of the year provides us with an opportunity to reflect, but also start to focus on what is ahead for 2018… Some…
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As an early Christmas present and unexpected result for the Industry, Treasury Laws Amendment (Legacy Retirement Product Commutations and Reserves) Regulations 2024 were registered on the Federal Register of Legislation on 6 December 2024. In a nutshell it means all complying lifetime, life expectancy (fixed term) and market linked pensions can be commuted effective immediately…
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The Australian Taxation Office (ATO) has recently published their SMSF statistical overview for 2017-18 which provides key insights from the published data about the health and performance of the SMSF sector. There’s always a lot of focus on some of ‘headline’ statistics, which this year was around operating expenses. The ATO has done some excellent…
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