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SMSF annual return lodgements

With the 15 May 2020 deadline fast approaching for the 2018-19 SMSF annual returns (SAR) lodgement for many SMSFs, the Australian Taxation Office (ATO) has recognised that some accountants and auditors may require more time due to the impact of the COVID-19 pandemic.

Action needed on legacy pensions

Various industry bodies, including the SMSF Association and the Tax Institute, have all raised the need for reform to help retirees trapped in legacy income streams in self-managed superannuation funds (SMSFs). The Actuaries Institute has now joined the chorus for change with its own submission to Treasury.