Super Industry News
SISFA relaunches membership to SMSF trustees Financial Standard
2019 Forum papers - ATO Update
Dana Fleming, ATO
2019 Forum Papers - Domacom
Learn more about Domacom
2019 Forum Papers - ThinkTank
Learn more about ThinkTank
2019 Forum Papers - Superconcepts profile
Learn more about Superconcepts
2019 Forum Papers - Super and Estate Planning -Julie Dolan
Super and Estate Planning - Julie Dolan KPMG
2019 Forum Papers - NALI Simon Tisher
NALI - where are we at? Simon Tisher, Barrister, Vic Bar
2019 Forum Papers - In the SMSF driver's seat
Bryan Ashenden BT
2019 Forum Papers - LRBAs and Alternative Lending Strategies Update
Andrea Carrick AG Tax Lawyers
2019 Forum Papers - Super and Estate Planning - Conflict of interest cases
Phil Broderick Sladen Legal
2019 Forum Papers - Tech and Reg update
Nick Ali Superconcepts
New ATO Website for SMSF Trustees or Professionals
The ATO has just published a new site for trustees or professionals who need help. It includes:
- SMSF early engagement and voluntary disclosure services
- SMSF auditor professional-to-professional support services
- Reporting SMSF auditor number misuse
- Specific advice
SMSF Annual Statistical Overview 2016-17
The ATO this week released some interesting stats on SMSFs - establishments, types of assets and members
SMSF annual statistics overview 2016-17
The ATO today released key statistics and analysis of Australia's self-managed superannuation fund (SMSF) sector for 2016–17. The main source of data is 2016-17 SMSF annual returns, which were typically due for lodgement during 2017–18
ATO Practitioner Webinar - Transfer balance cap – online TBAR lodgment for agents
This ATO run webinar is for tax agents who lodge transfer balance account reports (TBARs) for their self-managed super fund (SMSF) clients.
The webinar will cover:
- how to use the online TBAR form
- advantages of using the form, including avoiding common reporting errors that cause...
ATO initiative to protect the integrity of SMSFs
The ATO recently announced a new initiative designed to help protect the integrity of the self-managed superannuation fund (SMSF) sector. Before the end of 2018-19 financial year, the ATO will be publishing details of disqualified SMSF trustees on its website to help people easily search and ensure they do not engage...
SMSFs and their ability to accept employer conts
Keen to eliminate confusion about the status of SMSFs and its ability to accept employer contributions or rollovers from another fund, the ATO have published an SMSF News article on the proposed changes. The article includes information on:
· Changes to when...
ATO's response to possible SAN missuse concerns
Read more on the ATO's proactive approach to addressing SMSF auditor concerns about the potential for their SAN to be misused to facilitate SMSF annual return (SAR) lodgement.
As announced by Dana Fleming at the recent SMSFA National Conference, we will be providing all SMSF auditors with...
ATO speech on SMSF Regulation - an update
Assistant Commissioner Dana Fleming recently spoke at the SMSFA National Conference, which was held in Melbourne from 20 to 22 February.
Click here for a copy of her speech, titled SMSF Regulation: An Update, has now been published on the ATO'S website.
ATO announces changes for SMSFs and employer conts
The ATO are planning to make some changes to eliminate confusion about the status of a self-managed super fund (SMSF) and its ability to accept employer contributions or rollovers from another fund.
Please click on this link to view the article and feel free to share this information.
A new Trustee member membership option
Read about our new type of membership called a SISFA Trustee Member which incorporates services and support, by way of protection, not found through any other organisation in Australia
No lower limit: a good start for SMSFs in 2019
When the Productivity Commission publicly released their final report into superannuation review this month no minimum balance for SMSFs would be recommended. Read more
Have your voice heard: Franking Credit inquiry
The discussion around the impact of banning franking credit refunds as proposed by the Labor Party continues in earnest into 2019.
Public hearings are being held into the implications of removing refundable franking credits.
These public hearings provide an excellent opportunity for you to address the committee directly...
TBAR reporting deadline looms
Tuesday 29 January 2019 is the due date for SMSFs who are required to lodge their transfer balance account report (TBAR) quarterly.
This applies to SMSFs where the SMSF has any member with a total super balance (TSB) greater than $1 million and any member had a transfer balance...
SMSF quarterly statistical report for September 2018
The ATO has published their SMSF quarterly statistical report for September 2018
You can access the highlights of the report or the full statistical report by clinking on the above button
ATO Webinar recording - Transfer balance cap and TBAR reporting
The ATO recently conducted a webinar on the transfer balance cap (TBC) and the transfer balance account report (TBAR).
The aim of the webinar was to provide guidance on the TBC and TBAR including where individuals can find their information online as well as discussing the excess transfer balance (ETB)...
ATO decision impact statement - Aussiegolfa Pty Ltd (Trustee) v Federal Commissioner of Taxation case
The ATO recently published its view on the implications of the Aussiegolfa Pty Ltd (Trustee) v Federal Commissioner of Taxation case. The Full Federal Court handed down its decision this case in August 2018.
The decision made by the Full Federal Court covered a number of issues however in...
ATO P2P service for Auditors
The ATO have published an SMSF News article on their new Super Professional-to-Professional (P2P) service for SMSF auditors.
The article includes information on the P2P service and how SMSF Auditors can access it.
ATO announces new consultation group
SISFA has been invited to take a seat at the ATO's 2018 Super measures broader consultation group. You can download the terms of reference
New free ATO webinars for Practitioners and Trustees
The ATO run free SMSF webinars for superannuation professionals and trustees of self-managed super funds. Click here for details
The topic for the 22 Novwebinar is the transfer balance cap and TBAR reporting. You can register for the webinar through this link.
ASA Submission on the proposal of removing refundable franking credits
See the attached submission to the Standing Committee on Economics on the implications of removing refundable franking credits
2018_Forum papers- SMSF's and Retail Funds by BT
2018_Forum papers- Auditor Hot Issues
2018 Forum Papers - ATO
2018 Forum papers - Tech and Reg Update
Nick Ali Superconcepts
2018 Forum Papers - One Year On
2018 Forum Papers - SMSF and Real Estate
Extension of time will for the September quarter TBAR reporting
The ATO have confirmed the following:
“where agents will not meet the 28 October deadline, but are working towards lodging a TBAR due on 28 October 2018 as soon as possible, there is no need to contact us to seek a formal extension of time however..."
ATO - helping SMSF trustees understand their role and meet their obligations
See the ATO's latest updates on
- the different ways in which the ATO supports SMSF trustees
- some common mistakes that trustees make, and
- what to do if you make a mistake.
Super changes trigger tax hit for $200b in SMSF assets
See the comments as reported in the 2 August 2018 edition of the AFR
Superannuation: Assessing Efficiency and Competitiveness
Download the Productivity Commission's report into Superannuation
Government announces plans to expand SMSF member limit
Why Labor has got it wrong on franking credits
Why Labor has got it wrong on franking credits. Robert Gottliebsen writes in The Australian on April 20 2018
SMSF Member limit to be increased from 4 to 6
SISFA welcomes the impending announcement by Kelly O'Dwyer of an increase in the member limit of SMSFs from 4 to 6. SISFA has lobbied for this increase for some time now on the basis that larger family groups have been forced into setting up multiple funds because of this limitation
2018_03 Adviser Webinar on New Opportunities for contributions
Click on the link to view a recording of our Adviser webinar series. Presented by Graeme Colley, Superconcepts
2018_02 New reporting requirements for SMSFs webinar
Click on the link to view a recoding of our Trustee webinar series. Presented by Graeme Colley, Superconcepts
ATO SMSF Statistical Overview
ATOs SMSF Statistical review for 2015-16 (released today!) . The report highlights include SMSFs make up 99.6% of the total number of superannuation funds and 30% of the $2.3 trillion total superannuation assets as at 30 June 2017. SMSF statistical overview 2015-16 feature 6
ATO extends due date for 2016–17 SMSF returns
The ATO has announced that it will extend the lodgment date for self managed superannuation (SMSF) annual returns for the 2016/17 year to 30 June 2018. Because 30 June 2018 falls on a Saturday, the ATO has confirmed the lodgment can occur on Monday 2 July 2018 without penalties. ...
ATO Tip sheet - your concessional contribution cap
These Tip Sheets are designed to highlight some of the practical considerations and decisions that SMSF trustees and SMSF members need to be mindful of in the coming months.
This Tip Sheet also highlight the consequences for SMSF members who exceed their concessional contributions cap.
ATO Tip sheet - Transfer balance cap
Just in from the ATO - these Tip Sheets are designed to highlight some of the practical considerations and decisions that SMSF trustees and SMSF members need to be mindful of in the coming months.
This Tip Sheet also highlight the consequences for SMSF members who exceed their...
Upcoming ATO Webinar Tuesday 21st Nov at 2pm AEST
The ATO will be presenting a webinar for self managed super funds (SMSFs) on event based reporting for SMSF Professionals. The webinar will address the ATO’s event based reporting framework as announced in the media release on 9 November 2017.The details...
Have your say: frequency of SMSF transfer balance cap event-based reporting
24-Aug-2017 | ATO
We have published a position paper about how self-managed superannuation funds (SMSFs) will report events affecting individual members' transfer balances from 1 July 2018. We are seeking feedback from the SMSF industry about two options regarding frequency of reporting. Option 1: SMSFs report events ...
Top Five Questions for SMSF Trustees
25-May-2017 | ATO
Superannuation changes announced by the Australian Government start on 1 July 2017 – with SMSFs amongst some of those who may be affected. To debunk some of the misconceptions surrounding the reforms, we have outlined five of the most frequently asked questions, to help SMSF trustees prepare for and better...
Even fairer, more flexible and sustainable superannuation
15-Sep-2016 | The Hon Scott Morrison MP & The Hon Kelly O’Dwyer MP
The Government has today announced improvements to the superannuation changes announced in the 2016-17 Budget that make Australia’s superannuation system even fairer, more flexible and more sustainable. Following extensive consultation, the Government will amend the package to improve the measures that seek to restrict superannuation being used as an estate planning vehicle,...