2022 Forum Session 6:
Super contribution strategies for 2022 and beyond
2022 Forum Session 1: SMSF - Now I know my ABC
Neil Sparks, BT on Legs and Regs
2022 Forum Session 5: Super and Estate Planning
Nathan Yi, NY Lawyers - Trustee discretion and the payment of death benefits
2022 Forum Session 7: SMSF Audit - Tips and Traps
Belinda Aisbett, SuperSphere
2022 Forum Session 3: SG - no longer the toothless tiger
Phil Broderick, Sladen Legal
2022 Forum Session 4: NALI & NALE = NASTY
Dan Butler, DBA Lawyers
2022 Forum Session 2: ATO session
Kellie Grant, Director, SMSF Trustees Portfolio
ATO SMSF quarterly Statistical Report June 2021
The ATO Self-managed super fund quarterly statistical report – June 2021 is now available. It provides our latest statistics on the self-managed super fund (SMSF) sector. Highlights include:
There are 597,900 SMSFs.
There are 1,114,529 members of SMSFs.
The total estimated assets of SMSFs are just over $822 billion.
The top asset types held by SMSFs
ATO Online services update
Last week the ATO experienced system issues which resulted in short-term or intermittent access issues for the ATO Small Business Super Clearing House (SBSCH), External Clearing Houses and ATO Online Services.
The intermittent system issues may have delayed the receipt by super funds of some superannuation payments.
If last week's systems issues led to superannuation payments being received by a super fund after 30 June, when it was intended to be submitted by 30 June in order to claim a deduction for the 2020-21 year, the ATO will take a practical compliance approach and not allocate resources to determine which year the deduction was claimed.
3 June 2021 Getting $ in and out of super
3 June 2021 webinar featuring Simon Conolly, BDO - Getting money in and out of super - the basics
2021 SISFA Technical SMSF Professionals Half Day
Meg Heffron, Heffron SMSF Solutions - CURRENT SMSF ISSUES IN 2021
Lauren Ryan, Thinktank - LENDING PRESENTATION
Phil Broderick, Sladen Legal - SMSFs, PROPERTY DEVELOPMENT & SMSFRB 2021/1 - THE CURRENT STATE OF PLAY
Neil Sparks, National Manager SMSF Strategy
BT Tech Services - GETTING ADVICE FEES RIGHT
Dan Butler, Director, DBA Lawyers - SMSFs & FAMILY LAW & RELATIONSHIP BREAKDOWNS
ATO paper on Indexation fo the Transfer Balance Cap
AFR article on new performance test for all super funds
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
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.
Submission in relation to SPR 2020/D2
SISFA supports the legislative instrument re rental deferrals with some suggested changes
SISFA in favour of bill to increase SMSF members from 4 to 6
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.
SISFA Submission in relation to LCR 2019/D#
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.
ATO Help during difficult times
Managing the challenges of 2020 made easier with these ATO initiatives
SISFA relaunches membership to SMSF trustees Financial Standard
2019 Forum Papers - Super and Estate Planning -Julie Dolan
Super and Estate Planning - Julie Dolan KPMG
2019 Forum papers - ATO Update
Dana Fleming, ATO
2019 Forum Papers - LRBAs and Alternative Lending Strategies Update
Andrea Carrick AG Tax Lawyers
2019 Forum Papers - NALI Simon Tisher
NALI - where are we at? Simon Tisher, Barrister, Vic Bar
2019 Forum Papers - Super and Estate Planning - Conflict of interest cases
Phil Broderick Sladen Legal
2019 Forum Papers - ThinkTank
Learn more about ThinkTank
2019 Forum Papers - In the SMSF driver's seat
Bryan Ashenden BT
2019 Forum Papers - Superconcepts profile
Learn more about Superconcepts
2019 Forum Papers - Tech and Reg update
Nick Ali Superconcepts
2019 Forum Papers - Domacom
Learn more about Domacom
New ATO Website for SMSF Trustees or Professionals
The ATO has just published a new site for trustees or professionals who need help. It includes:
New ATO Website for SMSF Trustees or Professionals
"The ATO has just published a new site for trustees or professionals who need help. It includes:
SMSF Annual Statistical Overview 2016-17
The ATO this week released some interesting stats on SMSFs - establishments, types of assets and members
SMSF annual statistics overview 2016-17
The ATO today released key statistics and analysis of Australia's self-managed superannuation fund (SMSF) sector for 2016117. 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
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 reverse workflow
- a recap of what you need to report and when, as well as what you don't need to report
ATO's response to possible SAN missuse concerns
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 a list of funds that reported their SAN on SARs for the 2017 income year.<
SMSF auditors can expect to receive these fund lists by email in one of three scheduled mail outs planned for March, April and May.
You can access the full article here. Please feel free to share this information with your members.
ATO speech on SMSF Regulation - an update
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
SMSFs and their ability to accept employer conts
"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:<br />
ATO initiative to protect the integrity of SMSFs
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 a trustee who has been disqualified.
ATO announces changes for SMSFs and employer conts
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
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
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
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 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.
You can register to attend a hearing here: https://stoptheretirementtax.com/registration/
If you are unable to attend the inquiry in person, you can send a submission by emailing email@example.com.
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: http://www.fairerretirement.com.au/news/.<br />"
Super changes trigger tax hit for $200b in SMSF assets
See the comments as reported in the 2 August 2018 edition of the AFR
Government announces plans to expand SMSF member limit
ATO decision impact statement - Aussiegolfa Pty Ltd (Trustee) v Federal Commissioner of Taxation case
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...
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