Articles

Filter

Topic

Ethics

Retirement

SMSF/superannuation

Tax

Sort: Date Added (new to old)

Published (new to old) Published (old to new)

No matching articles were found. Please update your search criteria and try again.

Expenses, tax and administration

Director IDs – who needs one?

Published 10 Nov 2022

Since 5 April 2022, a person who intends to be appointed a director for the first time, must apply for a director ID prior to their appointment as a director. Once they have their director ID, it will remain with them for life....

Defined benefit & market-linked pensions

SMSF legacy pensions exempt from CSHC income test

Published 3 Nov 2022

You will have read in our recent article that the Commonwealth Seniors Health Card (CSHC) is an important consideration for many SMSF retiree households not currently entitled to receive the Age Pension. ...

ECPI, segregation and actuarial certificates

Watch out for deferred CGT notional gains from 2016-17

Published 1 Nov 2022

An SMSF may have applied CGT relief to certain fund assets in the 2016-17 income year as part of the introduction of the transfer balance cap (TBC) regime from 1 July 2017. This article reviews the CGT relief rule and the consequences when an asset that had CGT relief applied...

Income streams/pensions

Federal Budget 2022-23 (Oct)

Published 25 Oct 2022

The new Labor Federal Government handed down its first budget last night. As expected, there was a focus on measures to deal with inflation and the cost of living. The upcoming 1 July 2024 legislated personal income tax cuts have been left alone (for now) and there was an array...

Age Pension & Aged Care

More self-funded retirees to become eligible for cheaper healthcare

Published 25 Oct 2022

First published in SMSF Adviser, 7 October 2022 In good news for SMSF retirees, legislation was recently introduced into Parliament[1] to increase the Commonwealth Seniors Health Card (CSHC) income test limits to $90,000 a year for a single person and $144,000 a year for couples. The CSHC is a concession...

Ethics in your practice

Published 18 Oct 2022

Ethics is becoming a dominant topic in the professional advice space for multiple good reasons. Primarily as ethics is the foundation of trust and trust is the key foundation of a profession. We come across many ethical situations in our daily lives. Ethical issues are rarely black or white, and...

Expenses, tax and administration

SMSFs and entitlements to trust distributions

Published 12 Oct 2022

SMSFs and entitlements to trust distributions. During one of our live Q&A sessions we were asked about whether there had been any changes to the rules regarding unpaid present entitlements from trusts owing to an SMSF. Non-collection of the distribution could give rise to compliance issues, and we address those...

ECPI, segregation and actuarial certificates

Understanding and executing ECPI choice in an SMSF

Published 3 Oct 2022

With the introduction of ECPI choice for the 2022 income year there is now even more to think about when claiming ECPI. This article will examine the ECPI choice rules applying from 1 July 2021 and a case study illustrating what this means for SMSF trustees when claiming ECPI....

Transfer balance cap

Transfer balance account reporting (TBAR) regime change from 1 July 2023

Published 20 Sep 2022

The ATO have announced a new streamlined transfer balance account reporting (TBAR) regime that will apply to all SMSFs from 1 July 2023. The new systems will streamline reporting for all SMSFs and may also see a change in approach to annual fund administration....

Expenses, tax and administration

Application of the in-house asset rules – Part 2

Published 19 Sep 2022

Where an SMSF has an asset that is an in-house asset, that alone is not a breach of the superannuation rules. The breach is where the rules that apply to an in-house asset are not followed. Consequently, it’s important to understand when an asset is an in-house asset, and which...

Accumulation & contributions

Age is not just a number – NCC and downsizer strategies post age 60

Published 30 Aug 2022

Brought to you by Challenger Tech - This article recaps the newly introduced measures, advice opportunities it presents and discusses the important considerations including case studies and examples. ...

Audit

SMSF early engagement and voluntary disclosure

Published 29 Aug 2022

The ATO has recently updated their website regarding their early engagement and voluntary disclosure service. This article will discuss the requirements and process for an SMSF looking to make use of this service....

Investments & Property

Application of the in-house asset rules – part 1

Published 25 Aug 2022

In this first part of a two-part series, we consider when an asset of an SMSF is an in-house asset. In part 2, we’ll consider the application of the in-house asset rules....

ECPI, segregation and actuarial certificates

Beware of the effect of ECPI on deductions

Published 18 Jul 2022

One of the significant benefits of starting a retirement phase pension is the tax free status of the income associated with the pension, referred to as exempt current pension income or ECPI. Whilst the rules for how an SMSF can calculate and claim ECPI have changed from the 2021-22 income...

Accumulation & contributions

Determining a client’s total superannuation balance is not as simple as it sounds…

Published 12 Jul 2022

Total superannuation balance is used to determine eligibility to a number of concessions; caps and offsets, including: unused concessional carry forward cap; non-concessional cap; bring forward rule for non-concessional cap; tax offset for spouse contributions. The concept sounds simple, but can be quite complex and so we take a review...

Age Pension & Aged Care

Aged care questions you’ve asked in 2022

Published 30 Jun 2022

Brought to you by Challenger Tech, aged care can be a complex and an intricate area of advice. Although detailed laws have been laid out, certain types of scenarios require a practical understanding of how these laws are applied. In this article the Challenger Tech Team answer some interesting questions...