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Bill to implement several 2021 Budget proposals passed by both houses Bill to implement a number of superannuation and tax proposals contained in the 2021 Federal Budget passed by both houses. |
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Bill to implement several proposals contained in the 2021 Federal Budget Bill introduced to Parliament to implement a number of superannuation and tax proposals contained in the 2021 Federal Budget. |
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ATO extends work-from-home office expense shortcut method ATO extends the work-from-home office expense shortcut method for the 2021-22 financial year. |
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Retirement income covenant – Treasury releases draft legislation Treasury releases draft legislation and explanatory material on the superannuation retirement income covenant. |
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Compensation payments and super contribution caps Compensation received by a super fund may impact the member’s contribution caps. |
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ATO ruling: Non-arm's length income ATO releases LCR 2021/2 regarding non-arm’s length income arising from expenditure incurred under a non-arm’s length arrangement. |
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Retirement income covenant Treasury releases superannuation retirement income covenant position paper for consultation. |
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Registration Relief – Financial Advisers Exam Advisers yet to pass the Financial Adviser exam will all have the option to sit the November exam. |
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Better Advice Bill Introduced to Parliament Better Advice Bill creates single disciplinary body, new registration system, one-time extension of adviser exam and more. |
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Your Future Your Super Superannuation reforms designed to address the underperformance of superannuation products, limiting the creation of multiple super accounts and increasing trustee accountability. |
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SMSF member limit to increase to 6 Member limit to increase to six. |
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Extension of bring forward rule Individuals aged 65 and 66 to be able to make up to three years of non-concessional superannuation contributions under the bring forward rule. |
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Extension to the temporary reduction super minimum drawdown rates Extension of the reduced super minimum drawdown rate by another year to 30 June 2022 now law. |
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Termination of employment: technical tips to help your clients When a client’s employment has been terminated, learn about the implications that will impact their financial situation. |
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Changes to advice fee arrangements The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry identified an issue in ongoing advice fee arrangements, particularly where clients were charged fees for advice that was not provided. |
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Financial Sector Reform Two Financial Sector Reform Bills have recently been introduced to Parliament to implement recommendations made in the Financial Services Royal Commission Final Report. |
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Federal Budget 2020: What it means for financial services professionals The Federal Treasurer, the Hon. Josh Frydenberg MP, delivered the 2020 Federal Budget on 6 October 2020. |
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Economic & fiscal update - Early super access extended On 23 July 2020, the Government released an Economic and Fiscal Update to address the effects of COVID-19 on the Australian economy and provide revised estimates for the budget position for 2019/20 and 2020/21. |
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Updated Division 7A Calculator and decision tool The ATO has updated its Division 7A calculator and decision tool for the 2019-20 financial year |
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CRT Alert 040/2019 - Final low income super contribution determinations have issued The ATO have issued a CRT alert regarding low income super contributions (LISC). |
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Compensation received by super funds from financial instituions and insurance providers The ATO has published a fact sheet outlining the super (eg contribution), income tax and goods and services tax (GST) consequences for super funds receiving compensation payments from financial institutions and insurance providers. |
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Cuts to deeming rates On 14 July 2019 the Minister for Families and Social Services Senator Anne Ruston announced cuts to the Centrelink deeming rates. |
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Bill to increase SMSF members A bill has been tabled in Parliament to increase the maximum number of members permitted within a self managed superannuation fund (SMSF) from four to six. |
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