The ATO have recently announced they will be contacting the trustees of approximately 17,700 SMSFs to discuss their fund’s investment strategy and whether they are actively working towards a diverse strategy. The funds within the ATO’s view are those which are invested in a single asset or asset class or have more than 90 per […]
READ MOREATO Ruling To Impact SMSF Borrowing & Super Balances
The ATO has issued a ruling, setting out its approach to proposed changes to superannuation rules affecting limited recourse borrowing arrangements and the calculation of total superannuation balances. Treasury laws Amendment (2018 superannuation Measures No.1) Bill 2018 requires that the outstanding balance of a borrowing made under a limited recourse borrowing arrangement in certain circumstances […]
READ MOREWhat you need to know about Total Super Balances
What are Total Superannuation Balances (TSB) and why does the ATO need to keep track of them? A member’s TSB is the total sum of their balances held within both retirement phase income streams and accumulation accounts across all superannuation funds. As mentioned in our article “Getting Ready for TBAR Reporting”, the Total Superannuation Balance […]
READ MOREGetting Ready for TBAR Reporting
From 1 July 2017, the government has introduced a Transfer Balance Cap on retirement income streams. The cap started at $1.6 million and will be indexed periodically in increments of $100,000, in line with CPI* A member’s balance in retirement phase income streams, along with any credits and debits that move in and out of […]
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