It seems not a day goes past in the news at the moment where the Labor Government’s ‘robin hood’ approach to superannuation tax reforms are discussed. Depends on which side of the fence that you sit, it is either a tax-grab from a bulging retirement bucket, or it’s providing reform to address longer-term adequacy and … Continue reading »
Watch this video blog post where Aaron discusses his views on the recent talk around changes to superannuation policy, in particular his thoughts about where the Government would be better served to address the issue of equality in tax concessions. Obviously some of these issues aren’t going to be popular with self-funded retirees, but what … Continue reading »
The ATO has recently updated its website with the latest statistics regarding excess contributions tax (ECT), which continues to show individuals predominantly getting caught with their concessional contribution (i.e. salary sacrifice arrangements). After a 314% increase in ECT notices in 2009-10, there has been a reduction again in 2010-11 to date, however it is significantly … Continue reading »
It was a budget that certainly delivered on news that the Government was tightening its belt to deliver a budget surplus for 2012-13 and superannuation was certainly not immune from this pain. Unfortunately though, as a result of the announced changes in tonight’s budget, we are likely to see confidence in the superannuation sector erode … Continue reading »
The ability to take control of your retirement savings is a key driver in the continued growth of SMSFs. However, being a trustee comes with responsibility to ensure that your fund meets strict regulatory and compliance obligations. Failure to meet these can result in significant penalties, along with the potential loss of the fund’s complying … Continue reading »
Budget night in May each year regularly throws up changes and challenges, and this one appears to be no different. Retirement policy with an aging population continues to grow in importance, but it is an area that Governments can’t help themselves to fiddle with when endeavoring to “balance the budget”. This year appears to be an interesting … Continue reading »
Today saw the announcement by the Assistant Treasurer and Minister for Financial Services and Superannuation, Mr Bill Shorten of the Government’s response to the Super System Review (Cooper Review) recommendations, which include self-managed super funds. These “Stronger Super” reforms aim to address 139 of the 177 recommendations regarding the operation, efficiency, structure and operation of Australia’s Superannuation … Continue reading »
Borrowing inside a SMSF has been an attractive option for many people considering the acquisition of property, whether it be commercially (i.e. for their business) or for residential investment. Whilst SMSF borrowing can be an attractive option to consider, it has a range of important features that people need to be aware of when … Continue reading »