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July 2025In this edition, the Adviser query of the month looks at small business CGT contributions and the last point they can be received. We also cover the Government’s decision to delay the commencement of the aged care reforms and ASIC’s no-action position for deficient advice fee written consents. | View article |
June 2025In this edition, the Adviser query of the month looks at some timing considerations regarding the proposed Division 296 tax now that the Federal Election has been held. We also look at a recent case involving the Full Federal Court’s decision regarding the application of the anti-avoidance tax rules on the transfer of assets within a related group of entities. | View article |
May 2025Since the prior technical briefing the Federal Election has been announced and held. The effect of announcing the election is that all bills in Parliament that are not yet passed lapse. Most notable of these is the bill that proposed Division 296 tax for those with super balances over $3 million. We’ll wait to see what the new Government has in store for the financial advice industry. In this edition, we cover the recent reduction to the lowest marginal tax rate and the social security debt waiver for those commuting complying pensions. In the adviser query of the month, we cover the rules that determine the minimum pension requirement for a death benefit pension in the year of death. | View article |
April 2025In this edition we cover the 2025-26 Federal Budget and what it means for financial services professionals. We also look at the latest Delivering Better Financial Outcomes draft legislation that includes the government’s proposal to replace the statement of advice (SOA) with a client advice record (CAR). The adviser query of the month demonstrates how small excess concessional contributions can have significant non-concessional contribution cap implications if ignored. | View article |
March 2025In this edition we look at the Government’s announcement to introduce a new education standard to help increase the number of new entrants to the profession. The proposed pathway will continue to require a bachelor’s degree or higher though will be less restrictive for school leavers and require less study for career changers. We also look at the new total super balance thresholds for making non-concessional contributions for the 2025-26 year. The adviser query of the month examines the splitting of concessional contributions to a spouse where the client has used their carried forward cap from a prior year. | View article |
February 2025In this edition we highlight a number of developments to look out for in 2025, including the next tranche of the Delivering Better Financial Outcomes legislation, indexation of the general transfer balance cap for 2025-26 and the total superannuation balance thresholds for making non-concessional contributions. We also look at the recent change to allow individuals a five-year window to close certain complying income streams, such as market-linked pensions, as well as lifetime and life expectancy pensions not paid from a defined benefit fund. The adviser query of the month delves into some considerations when thinking about using this increased flexibility to close a market-linked pension.
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December 2024In this edition, we’ve included a new section answering a recent adviser question that arose. This month we look at the timing of providing the ATO election form when making a downsizer contribution. This new section will be a regular feature and is aimed at being informative and in some instances help avoid errors that can arise from time to time. We also look at the Government’s announcement regarding reforms aimed at improving the retirement phase of the superannuation system, ASICs new and updated material concerning the charging of ongoing fees in light of the ongoing reforms and the possible indexation of the general transfer balance cap for 2025-26. | View article |
October 2024During the month of September, legislation was passed which would enable recipients of paid parental leave (PLP) to receive superannuation contributions on their PLP payments, and the Government introduced a Bill which would implement fundamental reforms to the aged care system. In other news, the Government released draft regulations seeking feedback on a 2021-22 Federal Budget proposal to allow individuals to exit certain legacy retirement products, such as life expectancy and market-linked pensions. | View article |
September 2024During the month of August, a bill was introduced to Parliament to implement the Government’s proposal to pay superannuation guarantee on its payments made under the Paid Parental Leave scheme. The Government also introduced a bill to Parliament to make changes to the indexation of student loans. In other news, both ASIC and APRA released their Corporate Plans, outlining their priorities for 2024-25. | View article |
August 2024During the month of July, an Act which contained several social security measures that were announced in the 2024-25 Federal Budget received Royal Assent. The Government has also released exposure draft legislation on its proposal to amend the capital gains withholding tax regime for foreign residents. Other items of note include a media release by AFCA summarising the total number of complaints received for the 2023-24 year and details of its findings from the preliminary data. | View article |
July 2024During the month of June, legislation implementing the first tranche of the Government’s response to the Quality of Advice Review passed both houses and awaits Royal Assent. The Government has also released draft regulations for consultation on its proposed amendments consequential to the passage of the legislation. In other news, a bill was introduced to Parliament to extend the application of the Credit Code to buy now, pay later contracts and establish a new category of regulated credit which will cover some low cost credit contracts. | View article |
June 2024During May and June, legislation was passed to amend the law relating to social security and veterans' entitlements to preserve the social security means testing for recipients of certain military invalidity pensions. The Government has also introduced a bill to Parliament containing several social security measures that were announced in the 2023-24 Federal Budget. In other news, ASIC released guidance on the experienced provider pathway for financial advisers, and announced the launch of a new Professional Registers Search. | View article |
May 2024During May, the Government handed down the 2024–25 Federal Budget. The measures announced are unlikely to have a significant effect on the provision of financial advice. In other news, the Government released an exposure draft seeking feedback on the Help to Buy Program Directions, and ASIC published its findings after reviewing the member services provided by superannuation trustees and the progress trustees have made in addressing deficiencies in their monitoring of fee deductions. | View article |
April 2024During the month of March, the Government introduced a Bill to Parliament containing the first tranche of Quality of Advice reforms. The Government had also released exposure draft regulations on its proposed provisions to enable Division 296 tax to be calculated for interests in defined benefit schemes. In other news, an Act received Royal Assent which implements the second tranche of changes to the eligibility criteria of the Paid Parental Leave scheme. | View article |
March 2024During the month of February, the bill containing the Government’s proposed changes to the Stage 3 tax cuts passed both houses and received Royal Assent. The Government also announced that it intends to amend the Paid Parental Leave Scheme by introducing superannuation contributions to the payments. Also of note is the release of the Average Weekly Ordinary Time Earnings (AWOTE) figure for the December 2023 quarter, which triggered indexation of the concessional and non-concessional contribution caps. | View article |
February 2024During December 2023 and January 2024, the Government introduced a bill to Parliament to implement its proposed changes to the Stage 3 tax cuts and released draft legislation seeking feedback on minor amendments to the education requirements for financial advisers. Other items of note include an extension to the deadline by which financial advisers must be registered with ASIC. | View article |
December 2023During the month of November, the Government released draft legislation seeking industry feedback on the first tranche of the Delivering Better Financial Outcomes package of reforms, together with a detailed overview of its roadmap for financial advice reform. In other news, legislation was passed to implement changes in relation to the ASIC financial adviser register and amendments to the tax treatment of off-market share buy-backs. | View article |
November 2023During the month of October, the Government released a Consultation Paper seeking industry feedback on its proposal to regulate crypto and digital assets by imposing additional requirements on crypto exchanges and digital asset platforms. In other news, a Bill was introduced to Parliament which, if passed, would implement two changes to social security that would affect pension and income support recipients. | View article |
October 2023Since the last roundup, the Government released a consultation paper seeking feedback on reforms addressing unpaid employer superannuation guarantee contributions, and released draft legislation to introduce an additional tax on earnings for superannuation balances over $3 million. The Government also announced its intention to make two changes to social security that would affect pension and income support recipients. In other news, ASIC announced an extension to the date by which financial advisers are required to be registered. | View article |
September 2023During the month of August, social security measures announced in the 2023-24 Federal Budget passed both houses and received Royal Assent. Legislation including changes to the First Home Super Saver Scheme and recognising experience in the financial adviser industry was also passed, and now awaits Royal Assent. Other items of note include Treasury’s release of exposure draft legislation seeking feedback on the objective of superannuation. | View article |
August 2023During the month of July, APRA released for consultation its proposal to remake the Financial Claims Scheme Prudential Standard, and the Government released a consultation paper seeking feedback on a new individual tax residency framework. Other items of note include a media release by AFCA summarising the total number of complaints received for the 2022-23 financial year and details of the areas the complaints relate to. | View article |
July 2023During the month of June, the Government released its response to the Quality of Advice Review aimed at making high quality financial advice more accessible and affordable. Another item of note includes the introduction of a Bill to Parliament which contained proposals to better recognise the experience of existing financial advisers as well as address technical limitations in the current financial advice framework. | View article |
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Technical news and resources
Keep up to date with insights from our technical services team.
Recent developments —
July technical briefing
This technical briefing gives you an update on reforms and announcements from 24 May 2025 to 25 June 2025.
In this edition, the Adviser query of the month looks at small business CGT contributions and the last point they can be received. We also cover the Government’s decision to delay the commencement of the aged care reforms and ASIC’s no-action position for deficient advice fee written consents.
Industry hot topics
Federal Budget 2024: Impacts for financial service professionals
Read expert analysis from the Macquarie Technical Advice Services team on the impacts for the financial planning and advice industry.
Little Black Book
Access technical information and expertise in the one place, without having to search the web for industry facts and figures.
An introduction to philanthropic giving
This fact sheet provides an overview of some of the financial product and taxation considerations that arise when your clients are considering philanthropic giving.
NCC flow chart 2025-26
A visual tool to assist advisers in determining a client’s non-concessional contribution cap capacity for a specific income year.
Contribution cap companion
This companion provides a detailed guide to the key issues to be considered when advising clients on super contributions.
Big Black Book 2024/25
Technical news and resources
Technical briefing
Adviser guides
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An introduction to philanthropic giving This fact sheet provides an overview of some of the financial product and taxation considerations that arise when your clients are considering philanthropic giving. | View article |
Non-concessional contribution capacity flowcharts These charts provide a visual tool to assist advisers in determining a client’s non-concessional contribution cap capacity for a specific income year | View article |
Contribution cap companion The Contribution Cap Companion is a comprehensive guide to super contributions.. | View article |
Insuring through super This guide focuses on the tax and benefit access issues to provide key principles or 'rules of thumb' for insurance arrangements. | View article |
Superannuation death benefits This chart is a visual tool for advisers regarding the payment and tax treatment of superannuation death benefits. | View article |
Articles
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Year end strategies 2024 - 25: Technical tips for financial services professionals A quick reference source to help with some of the key year-end planning matters that may need to be considered for clients. | View article |
The ASIC Report 779 – Superannuation choice products: what focus is there on performance?The Australian Securities and Investment Commission (ASIC) published their report with recommendations that could affect you and how you choose client investments. Learn how these changes could affect you. | View article |
The Experienced Adviser Pathway: a new transitional arrangement for existing advisersThe Government has delivered on its election commitment to better recognise the experience of existing financial advisers with the Treasury Laws Amendment (2023 Measures No.3) Act 2023 receiving Royal Assent on 20 September 2023. | View article |
Sharpening the focus on member outcomes: addressing underperformance in superannuationThe Your Future, Your Super reforms that came into effect in 2021 included the introduction of an annual performance test to address underperformance in superannuation products.This article provides an overview of the test, the choice products that are likely to be in scope for the test and what it means for financial services professionals and their clients. | View article |
A new super earnings tax on high balancesThe Government intends to introduce a new 15 per cent tax on the investment earnings of super balances of above $3 million. In this article, we provide a summary of the proposal and how it is intended to operate and describe the next steps in the legislative process. | View article |
Main residence tax changes may impact expats Expatriates who own property in Australia that is, or was, their main residence may now be subject to tax when the property is sold. This follows royal assent on 12 December 2019 of legislation to remove the main residence capital gains tax (CGT) exemption for individuals who are foreign residents for Australian tax purposes. | View article |
Fast facts
| Fast fact | Link |
|---|---|
| Understanding Total Superannuation Balance | View article |
| An overview of the main residence CGT exemption | View article |
| Partial main residence CGT exemption | View article |
| Meaning of dependant for super and tax purposes | View article |
| Meaning of spouse for super and tax purposes | View article |
| Private Ancillary Funds | View article |
| Main residence CGT exemption – dwellings acquired from deceased estates | View article |
| Impact of service period on insurance in super | View article |
| Meaning of child for super and tax purposes | View article |
| Reportable Employer Superannuation Contributions | View article |
| Super death benefit nominations | View article |
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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.