By Christian Pakpahan, Lawyer and Daniel Butler, Director, DBA Lawyers We outline below the key superannuation changes announced in the Federal Budget 2018 on 8 May 2018. Some of the proposed changes will have a substantial impact on SMSFs if they are finalised as law. Nomination of superannuation guarantee (‘SG’) for certain employees with multiple [read more]
By: Philippa Briglia, Lawyer ([email protected]) and Daniel Butler, Director ([email protected]), DBA Lawyers An issue that advisers may not be aware of as we head towards the end of financial year ending 30 June 2018 is the tax treatment of certain pension payments made in relation to capped defined benefit income streams (‘CDBISs’). Tax agents and [read more]
By David Oon ([email protected]), Senior Associate, DBA Lawyers The consequences of an SMSF failing the residency rules can be automatic non-complying status. This will broadly mean the entire amount of the SMSF’s assets, less non-concessional contributions, are taxed at 45% in the year of non-compliance (47% during temporary budget repair levy financial years of 2014-15, [read more]
