SMSF Landlords and offering rent relief
A hot topic for SMSF trustees during the COVID-19 crises is whether SMSF trustees that hold land can offer rent relief to their tenants, in particular to related tenants, without breaching the superannuation laws
SISFA relaunches membership to SMSF trustees
SISFA has redesigned and relaunched its membership offering for SMSF trustees, as part of our efforts to provide SMSF members a louder voice in Canberra and greater support from the industry.
SISFA submission to the Retirement Income Review
SISFA today made a 34 page submission to Treasury's Retirement Income Review. The submission addresses the 26 questions identified in the Consultation paper and offers comments and recommendations on each.
More information can be found in the Press Release
Labor's franking policy "could be based on old data"
Appearing before the final House of Reps Economics public hearing into the Opposition Policy Michael Lorimer said Labor's policy created an "unfair" distinction between particular classes of shareholders.
Announcing a new type of membership for Trustee Members
A 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
Stop the Retirement Tax: REGISTER TO ATTEND A PUBLIC HEARING
"The discussion around the impact of banning franking credit refunds as proposed by the Labor Party continues in earnest into 2019 and 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 about how the proposed changes to refundable franking credits will affect your retirement. Your presence can send a strong and clear message that the proposed policy is inequitable.
If you are unable to attend the inquiry in person, you can send a submission by emailing <a href=""mailto:email@example.com.?subject=Stop the Retirement Tax"">firstname.lastname@example.org.</a>
You can also find material regarding the policy and its impacts on SMSFs and retirees at the Alliance for A Fairer Retirement System's website: <a href=""http://www.fairerretirement.com.au/news/"" target=""_blank"">http://www.fairerretirement.com.au/news/</a>."
House of Representatives Standing Committee on Economics inquiry into the implications of removing refundable franking credits will provide
"SISFA is one of 11 members of the Alliance for a Fairer Retirement System and welcomes the inquiry into the implications of removing refundable franking credits, a measure set to financially hurt millions of Australians.
The Alliance for a Fairer Retirement System -a group formed to represent millions of senior Australians, shareholders, self-funded retirees and those planning a sustainable retirement, including over one million members of self-managed super funds.
The Alliance was formed in response to Labor's proposal to disallow refunds of excess franking credits for a range of retirees and shareholders. The Alliance's focus is to explore options to fix problems with the existing superannuation taxation, Age Pension means testing and broader retirement income systems."
Alliance for a fairer retirement system
The recently formed Alliance for a Fairer Retirement System highlights the risks facing thousands of small business owners from Labor’s proposal to disallow cash franking credit refunds.
Earlier this week, Alliance representatives met with the Shadow Treasurer and Shadow Minister for Small Business, Chris Bowen, and with CEO of the Council of Small Business Australia (COSBOA), Peter Strong, to discuss the issue.
SISFA to create a new class of membership for SMSF Auditors
Proposals contained in the May 2018 Federal Budget included the Government's intention to reduce the frequency of audits for certain SMSFs to once every 3 years.
As a result of SISFA's subsequent interactions with the SMSF community, we determined that the audit function and the interests of Auditors were not being adequately analysed and represented. This led us to formulate a formal position on the 3-year cycle proposal and to also create an entirely new class of membership to represent the interests of specialist SMSF Auditors.
SISFA moves to bolster support for SMSF Auditors
The proposal in Tuesday night's Federal Budget to reduce the frequency of audits for certain SMSFs from annually to triennially has been met with resounding resistance from our SMSF Auditor members.
As a not-for-profit Association advocating the interests of the entire SMSF segment for the past two decades, SISFA has always been a voice for SMSF trustees and their professional advisers, including SMSF Auditors.
Sensible super changes in Budget
Last nights Budget introduced some welcome changes to the way superannuation savings are administered, though some of the measures could have gone further.
New Alliance wants fairer retirement outcomes for all Australians
SISFA along with several associations have formed the 'Alliance for a Fairer Retirement System' to explore options to fix problems with the existing superannuation taxation, Age Pension means testing and broader retirement income systems. The formation of the Alliance is in response to Labor's proposal to disallow refunds of excess franking credits for a range of retirees and shareholders.
Announcing a new partnership with Sharequity
SISFA today announced that is has partnered with Sharequity Pty Ltd as a Premium Annual sponsor.
Labor's policy backdown is welcome but problems remain
While SISFA welcomes Labor's backdown and the recognition of the unintended impact that the original policy would have on retirees, these carve-outs serve to highlight the flaw with the approach to this issue more broadly.
SISFA Webinar slides - new opportunities for Super contributions
Download the slide here from Graeme Colley's webinar on new opportunities for super contributions
Labor's unfair tax grab will hit everyone with super - all 12 million of us
"SISFA claims that Bill Shorten's plan to to deny dividend tax refunds to self-managed super funds will in fact make all 12 million Australians in superannuation funds worse off.
Labor's plan is not fair and it's not transparent."
We welcome the ATO's final position on event based 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.
MD handover along with new SMSF trustee membership package
SISFA announces MD handover along with new SMSF trustee membership package, including the first of its kind admin penalty / audit insurance for trustees at today's SMSF Forum
If you are a regular reader of this fine publication, you will be well aware our government, like others before it, is once again tinkering with the regulations governing superannuation. This time the Turnbull administration is proposing the changes will only affect the top 4 per cent of superannuants, leaving the rest of us with little if any impact.
A new voice for one million SMSF members
Two associations that speak for Australia's one million self-managed super fund members are merging to create an even stronger united voice. The Self-managed Independent Superannuation Funds Association (SISFA) is Australia's original SMSF advocate, established in 1998 to represent the interests of trustees and industry to Government. SISFA's mission includes the encouragement of high professional standards through its professional membership and public education initiatives.
Only the best for Super
"As 2016 came to a close, the federal government invited submissions to its discussion paper on the definition of superannuation, a final act in the significant
changes enacted last year. Superannuation is a long-term savings vehicle and the Self-managed Independent Superannuation Funds Association (SISFA)
applauds appropriate long-term planning for our superannuation system."
During the 2016/17 financial year approximately $1.6 million was levied in administration penalties alone [against trustees]
speaking up for 1 million Australians with SMSFs