Community
Age pension fails to meet retirement needs
New research has found most Australians believe the age pension is insufficient to fund their retirements, with larger superannuation balances and access to professional financial advice linked to higher levels of financial well-being instead.
ATO stats show continued growth in SMSF sector
The ATO’s June quarterly statistical data on the SMSF sector has been released and has revealed continued growth.
A new day for Federal Reserve policy
What the Federal Reserve's policy shift means for rates.
COVID early super release did little for financial, emotional wellbeing.
The Early Release of Super scheme implemented during the COVID-19 pandemic had little impact on financial resilience or wellbeing, new research has shown.
Warning to micro businesses. ‘Higher taxes for thousands of businesses’.
The ATO’s draft guidance on personal service income and the general anti-avoidance provisions is likely to be a shock to many small and microbusinesses in Australia.
Capital losses can help reduce NALI
Capital losses can be used to reduce or eliminate NALI tax exposures in relation to a tainted capital gain, says a legal expert.
Super sector in ASIC’s sights
The superannuation sector’s handling of retirement outcomes will be an area of focus for ASIC which has also committed to review SMSF establishment advice.
Beware of terminal illness payout time frame
If an SMSF member is diagnosed with a terminal illness, it is best not to close out the fund before the insurance has been paid, says a specialist.
ATO encourages trustees to use voluntary disclosure service
The ATO is encouraging SMSF trustees to use its voluntary disclosure service to inform it early if a contravention has occurred.