ATO issues guidance on SMSF trustee appointment and compliance

ATO issues guidance on SMSF trustee appointment and compliance

The ATO has issued guidance on what SMSF members need to understand about compliance regarding responsibilities when appointing trustees or directors of a corporate trustee. . The regulator has outlined the eligibility of directors and trustees, saying that all...
New SMSF trustees propel uptake of financial advice

New SMSF trustees propel uptake of financial advice

The $1 trillion superannuation sector still has significant advice gaps   . The number of Australians using a self managed superannuation fund (SMSF) hit a new record at the end of 2024.   Australian Tax Office data shows almost 26,000 new funds were created last...
ASIC to increase audit surveillance in 2025–26

ASIC to increase audit surveillance in 2025–26

The corporate regulator has said it will review an increased number of audit files in the upcoming financial year. . n a statement regarding its focus areas for 2025–26, the regulator said it will review an increased number of audit files and, as part of its...
Start-ups to suffer under Div 296

Start-ups to suffer under Div 296

The head of a prominent funds management house has predicted the proposed Division 296 tax will significantly diminish the supply of critical capital required for start-up companies as many of these enterprises rely on SMSFs for funding. . “[The proposed tax] will...
Investment and economic outlook, May 2025

Investment and economic outlook, May 2025

Tariff reprieves, trade deals brighten the economic horizon . Australia Amid weaker global growth, expect a dovish central bank. “Given the combination of weaker global growth and heightened uncertainty, we expect the Reserve Bank of Australia to adopt a dovish...
Your 30 June superannuation checklist

Your 30 June superannuation checklist

With the end of the current financial year fast approaching, time is running out if you’re planning to boost your superannuation balance before 30 June. . Even depositing a small amount of extra money into your super account before 30 June this year could make a big...
$95bn loss predicted to Australian economy if Div 296 passes: analysis

$95bn loss predicted to Australian economy if Div 296 passes: analysis

Analysis from one of the country’s biggest asset management firms has revealed a “deadweight loss” of $94.5 billion to the nation’s economy if the Division 296 tax gets over the line. . A discussion paper from Wilson Asset Management on the proposal by the current...