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Industry News

Super Industry News

3 June 2021 Getting $ in and out of super

03-Jun-2021  | 

3 June 2021 webinar featuring Simon Conolly, BDO - Getting money in and out of super - the basics

2021 SISFA Technical SMSF Professionals Half Day

20-May-2021  | 

Presentations include:
Meg Heffron, Heffron SMSF Solutions - CURRENT SMSF ISSUES IN 2021
Lauren Ryan, Thinktank - LENDING PRESENTATION
Neil Sparks, National Manager SMSF Strategy

ATO paper on Indexation fo the Transfer Balance Cap

24-Feb-2021  | 

Submission in relation to SPR 2020/D2

19-Oct-2020  | 

SISFA supports the legislative instrument re rental deferrals with some suggested changes

SISFA Submission in relation to LCR 2019/D#

19-Oct-2020  | 

This submission provides further feedback on a submission last December.  SISFA's view that treating all the income and capital gains of a SMSF as non-arm’s length income (NALI) when general or unallocated expenses are considered to be non-arm’s length expenditure (NALE) is inappropriate and inconsistent to retirement income policy objectives.

SISFA in favour of bill to increase SMSF members from 4 to 6

19-Oct-2020  | 

SISFA welcomes and supports the introduction of the Bill that will increase the maximum number of allowable members in an SMSF from four to six. This measure is consistent with submissions that SISFA has made in the past in relation to increasing the maximum number of members for SMSFs.

AFR article on new performance test for all super funds

19-Oct-2020  | 

The latest intervention in the $3 trillion super system is pitched as an overdue move to ensure transparency, accountability and higher performance. But it could have consequences far beyond these noble objectives. 

Self-managed superannuation funds – administrative penalties imposed under subsection 166(1) of the Superannuation Industry (Supervision) Act 1993

19-Oct-2020  | 

This ATO Practice Statement provides guidelines for the administration of penalties, including the circumstances we take into account when considering remission. It is an instruction to ATO staff and ensures a consistent and transparent approach.

ATO Help during difficult times

05-Aug-2020  | 

Managing the challenges of 2020 made easier with these ATO initiatives

SISFA relaunches membership to SMSF trustees Financial Standard

22-May-2020  | 

2019 Forum papers - ATO Update

24-Oct-2019  | 

Dana Fleming, ATO

2019 Forum Papers - Domacom

24-Oct-2019  | 

Learn more about Domacom

2019 Forum Papers - ThinkTank

24-Oct-2019  | 

Learn more about ThinkTank

2019 Forum Papers - Superconcepts profile

24-Oct-2019  | 

Learn more about Superconcepts

2019 Forum Papers - Super and Estate Planning -Julie Dolan

24-Oct-2019  | 

Super and Estate Planning - Julie Dolan KPMG

2019 Forum Papers - NALI Simon Tisher

24-Oct-2019  | 

NALI - where are we at?  Simon Tisher, Barrister, Vic Bar

2019 Forum Papers - In the SMSF driver's seat

24-Oct-2019  | 

Bryan Ashenden BT

2019 Forum Papers - LRBAs and Alternative Lending Strategies Update

24-Oct-2019  | 

Andrea Carrick AG Tax Lawyers

2019 Forum Papers - Super and Estate Planning - Conflict of interest cases

24-Oct-2019  | 

Phil Broderick Sladen Legal

2019 Forum Papers - Tech and Reg update

24-Oct-2019  | 

Nick Ali Superconcepts

New ATO Website for SMSF Trustees or Professionals

13-Jun-2019  | 

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

27-May-2019  | 

The ATO this week released some interesting stats on SMSFs - establishments, types of assets and members

SMSF annual statistics overview 2016-17

14-May-2019  | 

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

23-Apr-2019  | 

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

08-Mar-2019  | 

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

08-Mar-2019  | 

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

08-Mar-2019  | 

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

08-Mar-2019  | 

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

23-Feb-2019  | 

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

04-Feb-2019  | 

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

04-Feb-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

29-Jan-2019  | 

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

16-Jan-2019  | 

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

17-Dec-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

17-Dec-2018  | 

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

17-Dec-2018  | 

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

17-Dec-2018  | 

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

20-Nov-2018  | 

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

20-Nov-2018  | 

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

20-Nov-2018  | 

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

01-Nov-2018  | 

2018_Forum papers- Auditor Hot Issues

01-Nov-2018  | 

2018 Forum Papers - ATO

01-Nov-2018  | 

2018 Forum papers - Tech and Reg Update

01-Nov-2018  | 

Nick Ali  Superconcepts

2018 Forum Papers - One Year On

01-Nov-2018  | 

2018 Forum Papers - SMSF and Real Estate

01-Nov-2018  | 

Extension of time will for the September quarter TBAR reporting

25-Oct-2018  | 

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

25-Oct-2018  | 

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

04-Aug-2018  | 

See the comments as reported in the 2 August 2018 edition of the AFR

Superannuation: Assessing Efficiency and Competitiveness

08-Jun-2018  | 

Download the Productivity Commission's report into Superannuation 

Government announces plans to expand SMSF member limit

30-Apr-2018  | 

Why Labor has got it wrong on franking credits

29-Apr-2018  | 

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

27-Apr-2018  | 

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

24-Mar-2018  | 

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

24-Mar-2018  | 

Click on the link to view a recoding of our Trustee webinar series.  Presented by Graeme Colley, Superconcepts

ATO SMSF Statistical Overview

19-Jan-2018  | 

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

19-Jan-2018  | 

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

14-Dec-2017  | 

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

14-Dec-2017  | 

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

21-Nov-2017  | 

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,...

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