The Government’s Budget proposal to strengthen the ATO-led consolidation regime by requiring the transfer of all inactive superannuation accounts where the balances are below $6,000 to the ATO.
ATO
First Home Super Saver Scheme – Overview
Under the First Home Super Saver Scheme (FHSS Scheme), eligible super members who make voluntary superannuation contributions can subsequently withdraw those contributions (and associated earnings) from the super system in order to acquire their first home.
Tips and traps appointing a corporate trustee for an SMSF
There are very few SMSF specialists who don’t think that having a company as the trustee of the fund is preferable to having the members act as trustees individually.
Auditor says ‘safe harbour’ terms are mandatory – what now?
Would an SMSF trustee decision not to adopt the safe harbour terms from the ATO’s Guidelines in relation to a related party loan breach the Superannuation Industry (Supervision) Act SIS (Act)?
Family trusts – a growing force in the economy
Family trusts have always been an important structure for business planning, tax planning and estate planning, mainly due to their tax efficiency, asset protection, flexibility and succession possibilities.
Airbnb is a good earner but what about the CGT?
Airbnb can create extra income for you and your family, however this can cause some adverse tax consequences.
DomaCom loses tax test case
DomaCom has lost a test case intended to determine how transparent its fractional interest property scheme is for in-house asset rule purposes.
SISFA welcomes ATO’s position on SMSF reporting
The ATO’s final position on event-based reporting for SMSFs is both welcome and a reflection of the industry and regulator collaborating to achieve a sensible outcome.