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Excess super contributions tax abolished 8 Aug 2013 | 07:15 am
The 31.5% penalty tax applying to excess concessional super contributions has (finally) been scrapped. The old scheme was unfair in that excess contributions were taxed at 46.5% (including the 15% co...
Grandfathering of conflicted remuneration to benefit independent financial planners 11 Jul 2013 | 06:43 am
The government last week announced how pre-FoFA conflicted remuneration arrangements would be treated going forward. Simply, all existing arrangements will be grandfathered indefinitely. There’s more...
TASA legislation passed by Parliament 24 Jun 2013 | 11:02 am
The Tax Agent Services Act (TASA) legislation was passed by the House of Representatives recently. Originally, the legislation proposed that all financial planners providing tax advice in the context...
Government moves quickly to increase super contribution limit 29 May 2013 | 11:57 am
There were no further changes to superannuation announced in the recent Federal Budget, but the Government has wasted no time in moving on its previously announced proposal to increase the concessiona...
Why the $AUD is hurting the economy 1 May 2013 | 10:09 am
A lot has changed since the start of 2013. A Federal Election has been announced by our (now marginal) Government, growth in China has eased more than expected, the budget deficit has ballooned furthe...
Government announces changes to superannuation 9 Apr 2013 | 05:30 am
Last Friday Treasurer Wayne Swan and Minister Bill Shorten announced a range of changes to superannuation aimed at making super fairer for all Australians. Here are the key reforms: 1. Tax to apply ...
Why you must have an Enduring Power of Attorney for your SMSF 2 Apr 2013 | 08:56 am
Around 7 out of 10 SMSFs have individual trustees, the majority with 2 spouses acting as joint trustees (e.g. husband and wife). Under these circumstances, you must have an Enduring Power of Attorney...
Investing in a Defence Housing property; the pros and cons 22 Mar 2013 | 08:37 am
Defence Housing Australia (DHA) is a government-backed scheme providing housing to members of the Defence Force and their families. Investors purchase a property from DHA and then lease it back to DH...
Using dividend imputation to boost your SMSF returns 7 Mar 2013 | 09:42 am
You’ve probably heard the terms franking credit, imputation credit and franked dividend before. These terms all relate to the dividend imputation system associated with investing in Australian shares...
How to apply fund-capped contribution limits to your SMSF 1 Mar 2013 | 05:48 am
The ATO recently provided clarification around its position on fund-capped contribution limits for superannuation funds (ATO ID 2012/79, sub regulation 7.04). The limits only come into play where: 1...
