| Article | Link |
|---|---|
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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Federal Budget 2018: what it means for financial services professionals The Federal Treasurer, the Hon. Scott Morrison MP, delivered his third Federal Budget on 8 May 2018. |
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Technical news and resources
Keep up to date with insights from our technical services team.
Recent developments —
December technical roundup
Several Bills have been introduced to Parliament in the last month, including provisions in response to recommendations from the Hayne Royal Commission.
Industry hot topics
Year end strategies
Technical tips for financial services professionals to help with some of the key year-end planning matters that may need to be considered for clients.
Little black book
Access technical information and expertise in the one place, without having to search the web for industry facts and figures.
SMSF recent case law developments
Read the commissioners approach on disregarding or reallocating remedial super guarantee contributions.
Super contribution options in 2019-20
After the Federal election result on 18 May 2019, it is timely then to take stock of the current state of superannuation contribution options for clients now that the changes proposed by the Australian Labor Party are off the agenda.
Anti-detriment benefit phase out
As part of the 2017 super reforms the law was amended to completely remove the payment of the anti-detriment benefit from 1 July 2019. Although the anti-detriment benefit is being phased out, it remains available in some circumstances.
Big Black Book 2020/21
The most comprehensive reference guide for financial advisers, available now.
Technical news and resources
Latest news
Adviser guides
| Article | Link |
|---|---|
Contribution cap companion The Contribution Cap Companion is a comprehensive guide to super contributions.. |
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Insuring through super This guide focuses on the tax and benefit access issues to provide key principles or 'rules of thumb' for insurance arrangements. |
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Superannuation death benefits This chart is a visual tool for advisers regarding the payment and tax treatment of superannuation death benefits. |
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Articles
| Article | Link |
|---|---|
FASEA issues drafts of Adviser Professional Standards On Friday 16 November 2018, the Financial Adviser Standards and Ethics Authority (FASEA) began to release the much-anticipated final draft standards to give effect to the new Adviser Professional Standards Framework. |
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Adviser education pathways and Code of Ethics Legislation was passed by Parliament on 09 February 2017 that aims to raise the education, training and ethical standards of financial advisers who provide personal advice to retail clients. |
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The CGT sting in the tail when leasing out a room More and more Australians are considering the opportunity of leasing part of their homes to supplement their income. The ‘share economy’ presents easy and flexible access to the short-term rental market through simple-to-use apps such as Airbnb. |
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Franking matters... but less than before Recently the leader of the Labor party announced a proposal to reverse the Howard-era policy of refunds for excess franking credits. It came as quite a surprise to the market, which moved to discount stocks that carry a premium for franking credits versus those that don’t. |
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Technical roundup
| Monthly technical roundup | Link |
|---|---|
December 2019 Several Bills have been introduced to Parliament in the last month, including provisions in response to recommendations from the Hayne Royal Commission. |
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November 2019 A number of Acts were assented to and several Bills have been introduced to Parliament in the last month, including provisions to improve the taxation of testamentary trusts as announced in the 2018 Federal Budget. |
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October 2019 A number of Bills have received Royal Assent and more have been introduced to Parliament in the last month, including the provisions to implement the first home loan deposit scheme announced in the 2019 Federal Budget. |
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August 2019 The Australian Tax Office (ATO) has published information on the LRBA safe harbor interest rate, how it will handle inactive low-balance super accounts and guidance fact sheets on the super and GST implications of a super fund receiving compensation payments from financial institutions and insurance providers. |
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July 2019 A number of Bills have received Royal Assent and more have been introduced to Parliament in the last month, including the provisions to implement the first home loan deposit scheme announced in the 2019 Federal Budget. |
View article |
June 2019 Over the past month, the Australian Tax Office (ATO) has issued a practical compliance guideline that outlines the safe harbour approach and what factors are considered when extending the two-year period for the disposal of a dwelling acquired from a deceased estate. |
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Fast facts
Fast Facts provide you with bite-size technical information when you need answers fast.
These short, sharp resources cover specifically targeted issues to help you with financial planning related topics, such as superannuation, tax and social security.
Social security & Aged care
| Article | Link |
|---|---|
| Social security treatment of complying pension transfers | View article |
| Special Disability Trusts | View article |
| Pension loans scheme | View article |
| Indexation of Social Security benefits and Aged Care fees | View article |
Superannuation
| Article | Link |
|---|---|
| Anti-detriment payment upon death | View article |
| Claiming a tax deduction for personal super contributions | View article |
| Contribution considerations when approaching age 65 | View article |
| De facto couples access to federal family law regime | View article |
| Impact of service period on insurance in super | View article |
| Meaning of child for super and tax purposes | View article |
| Meaning of dependant for super and tax purposes | View article |
| Meaning of spouse for super and tax purposes | View article |
| Reportable Employer Superannuation Contributions | View article |
| Super contribution acceptance rules | View article |
| Super death benefits nominations | View article |
| Transition to retirement pensions | View article |
Taxation & investment
| Article | Link |
|---|---|
| An overview of the main residence CGT exemption | View article |
| Partial main residence CGT exemption | View article |
| Main residence CGT exemption - dwellings acquired from deceased estates | View article |
| Employment termination payments | View article |
| Private Ancillary Funds | View article |
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Additional information
Unless stated otherwise, this information has been prepared by Macquarie Bank Limited AFSL and Australian Credit Licence 237502. It is provided for the use of licensed and accredited brokers and financial advisers only. In no circumstances is it to be used by a potential client for the purposes of making a decision about a financial product or class of products.