News
Death tax" will have effect on estate planning strategies
3+ day, 6+ hour ago (481+ words) Brent Murphy, partner with KPMG, said on Sky News that generally, where a trust is changed, it is fundamentally "as if you've sold all the trust assets," which causes tax to arise as well as potentially stamp duty. "Transferring from…...
SMSFA reiterates CSLR objections in last-minute meeting with Mulino
3+ day, 6+ hour ago (458+ words) Peter Burgess, CEO, SMSF Association Peter Burgess, CEO of the SMSFA, told SMSF Adviser that he and other heads of financial service sector associations were called to Sydney to meet with Mulino just hours before final submissions for the CSLR…...
Budget changes trigger triple taxation exposure for trust assets on death
3+ day, 6+ hour ago (526+ words) Matthew Burgess, director, View Legal Matthew Burgess, director of View Legal, said the 2026 budget has triggered a renewed debate over proposed changes to Australia's trust taxation rules and has largely focused on prospective reforms such as the attack on future…...
Key Tribunal ruling strengthens position of fixed unit trust arrangements
3+ day, 7+ hour ago (1729+ words) Terence Wong, director, T Legal In K J Cooke ATF Cooke Investment Trust v Chief Commissioner of State Revenue [2026] NSWCATAD 130 the Tribunal pointed to features such as restrictions on amending the deed, clear present entitlements to income and capital, and…...
Victim of child abuse legislation welcome but needs to go further
4+ day, 6+ hour ago (555+ words) David Busoli, principal, SMSF Alliance "There is still an outstanding item that needs to be similarly resolved. Currently a person who kills their partner is not prohibited from receiving the benefit of their partner's superannuation benefit, including life insurance, even…...
Definition of fixed unit trust could determine structuring options
4+ day, 6+ hour ago (539+ words) Phillipa Briglia, Sladen Legal Philippa Briglia, special counsel for Sladen Legal, said one of key budget announcements from last week is that from 1 July 2028, trustees of discretionary trusts will pay a minimum tax of 30 per cent on the taxable income…...
New to SMSFs? Start preparing for your first SAR lodgment
4+ day, 6+ hour ago (253+ words) The ATO said for trustees who have recently set up an SMSF, staying on top of their lodgment and reporting obligations is important. The first SMSF annual return is due by 31 October 2026 and if a trustee is working with a…...
Super Stream contributions v3. 0: is your SMSF ready?
5+ day, 6+ hour ago (412+ words) The" ATO stated that it's data payment systems introduce critical changes that support Payday Super that go beyond technical issues. The regulator continued that error handling is a key focus area of the upgrade. Systems will need to generate structured,…...
Has the objective of super legislation hamstrung the Govt?
4+ day, 17+ hour ago (558+ words) Aaron Dunn, CEO, Smarter SMSF Aaron Dunn, CEO of Smarter SMSF, said on the most recent SMSF Adviser podcast that the lack of any meaningful measures for the super sector in the budget "stood out" because of their absence. "There…...
TSB importance may increase relevance of tax-effective accounting
4+ day, 23+ hour ago (433+ words) However, William Fettes, senior associate at DBA Lawyers, said in a recent webinar that the growing importance of total super balance calculations may increase its relevance, particularly for members near key thresholds. "The introduction of the total super balance testing…...