The release of an exposure draft by Treasury for consultation has ultimately seen what was expected from within the SMSF industry – that is, the Federal Government wasn’t really interested in listening to many of the concerns about the proposed measures to better target superannuation concessions for individuals with balances above $3.0 million. The concerns…
As we know, the General Transfer Balance Cap (GTBC) was introduced from 1 July 2017, originally set at $1.6 million, and is a cap on the how much can be transferred to a retirement phase pension for a member. It is also the threshold for determining eligibility for various contribution measures. The cap is indexed…
What topics are likely to shape the SMSF sector in the coming year? How are these likely to impact our SMSF clients? and what action should we be looking to take? These are all questions for practitioners working with SMSF clients in 2023… In one of our most popular webinars each year, leading SMSF…
There’s a growing importance and complexity that comes with SMSF pension documents. For many practitioners, there’s a continued reliance on your SMSF software to prepare pension documents, which raises a number of risks and important considerations. In this webinar, we unpack many of these issues in comparing standard SMSF software templates to the newly updated…
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…
