Darin Tyson-Chan

A new consultation paper from Minister for Financial Services Daniel Mulino has outlined options for SMSFs to be included in CSLR funding. ow.ly/flL150YFGUA #SMSF #financialplanning #financialservices #ausbiz #accounting #superannuation #smsmagazine

@smsmagazine The government seems to be intent on finding new ways to fund the CSLR rather than implement measures to address the root cause of product collapses like the Shield and First Guardian master funds. I still say it is unfair to make superannuants of any kind to pay for the regime.

@smsmagazine There is no doubt the Division 296 tax rules pertaining to when the member of an SMSF dies seem completely unworkable and thrusts a troubling new responsibility on estate executors.

Creating an open-ended period in which to claw back Division 296 from deceased superannuants would be overly complex and probably unworkable. ow.ly/B5ny50YFGSB #SMSF #financialplanning #financialservices #ausbiz #accounting #superannuation #smsmagazine #Division296 #Tax

@smsmagazine @SMSFassoc @PBurgessSMSFA

Amounts in excess of an individual’s concessional contributions cap will be included in that person’s assessable income for the year. ow.ly/yvvY50YFGOv #SMSF #financialplanning #financialservices #ausbiz #accounting #superannuation #smsmagazine #Contributions #Tax

@smsmagazine This treatment of excess concessional contributions is something of which super fund members should be aware as it could lead to unwanted adverse tax and social security results.

@smsmagazine @BTAdviserCentre

Trustees looking to enjoy the benefits of a SIS Regulation 13.22C trust must take into account all of the rules pertaining to these structures. ow.ly/HWQ350YFGsy #SMSF #financialplanning #financialservices #ausbiz #accounting #superannuation #smsmagazine #trusts

@smsmagazine Regulation 13.22C trusts can be very beneficial for SMSFs but all of the rules relevant to them should be understood to ensure their use achieves the desired outcome.

The necessity to obtain an actuarial certificate with regard to the allocation of earnings for Division 296 purposes currently seems to be unclear. ow.ly/jcTt50YF0j1 #SMSF #financialplanning #Superannuation #smstrusteenews #Compliance #Regulation #Division296 #Legislation

@smstrusteenews There are so many details as to the implementation of the Div 296 tax that remain unresolved and probably will continue to have this status until the policy is actually introduced.

@smstrusteenews @TaxInstituteOz @JemmaSanderson

#FromTheEditor: Another bonus amid the carnage Official data released in February has confirmed some individuals will be able to allocate more money to their SMSF in the 2027 financial year. Read it now: ow.ly/r1YL50YEM5v #Superannuation #FromTheEditor #smstrusteenews

@smstrusteenews As we endure the hard economic times currently afflicting the country it is important to recognise a win when one is presented to us.

Two SMSF messaging providers will cease offering their services in the coming weeks, but a new provider has been added to the ATO register. ow.ly/eG5h50YF0fE #SMSF #financialplanning #financialservices #ausbiz #accounting #superannuation #smsmagazine #ATO #SuperStream

@smsmagazine The current list of ESA providers is something practitioners and trustees need to take into account in order to properly prepare for the introduction of Payday Super.

@smsmagazine @ato_gov_au

A sector stakeholder is currently developing a new tool to assist practitioners with SMSF compliance using artificial intelligence. ow.ly/c2fR50YF0cP #SMSF #financialplanning #financialservices #ausbiz #accounting #superannuation #smsmagazine #Administration #Technology #AI

@smsmagazine This is a positive initiative and it is likely the use of AI to aid with SMSF documentation and compliance will increase in the future.

@smsmagazine @cloudoffis