It has certainly been a year of two halves for the SMSF sector… Up until the Federal election in May, the focus of the SMSF industry was around the potential impact of Labor’s proposed super measures, in particular the inequitable reforms to franking credits which specifically targeted SMSFs. With Labor snatching defeat from the jaws…
I read with great interest the release by Treasury of a discussion paper regarding a ‘Review of the Tax Practitioner’s Board’ (TPB) which is requesting feedback and comments on the future role of the TPB and the potential reforms to the regulation of Tax Practitioners in Australia. Of most significance was the perceived recognition that…
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…
After all the fanfare by the Coalition Government to increase the number of members within a SMSF to six (6) members in response to Labor’s proposed measure to ban franking credit refunds, this item on budget night has died and will not proceed. After introducing Treasury Laws Amendment (2019 Measures No. 1) Bill 2019…
It is disappointing that the debate around refundable franking credits has denigrated into class (and age) warfare in regards to who is most ‘entitled’ to the savings expected to be derived through Labor’s proposed policy change should they come into government in May 2019. It was Chris Bowen’s comment that “if you didn’t like our…
