Background Anyone with a total superannuation balance (TSB) over $3 million no doubt will be aware of the new Division 296 tax. Indeed, anyone who even thinks that they might one day have such a TSB will probably be aware. Division 296 tax will come into effect on 1 July 2026. Significant Division 296 tax [read more]
As the end of financial year (EoFY) approaches, trustees and their advisers need to be aware of their trust obligations to ensure ongoing compliance and to manage tax liabilities. The ATO has released a list of tips designed to assist with this process, which can be found here. We cover the key parts of the [read more]
Lin v Yim & Anor [2026] QSC 57 – when superannuation benefits cease being ‘super’ The recent Queensland Supreme Court decision in Lin v Yim & Anor [2026] QSC 57 highlights the importance of properly integrating SMSF succession with broader estate planning. This case involved an SMSF member who, shortly prior to death, implemented an [read more]
The Government proposed minimum 30% non-refundable tax credit (NRT Credit) on trustees of discretionary trusts (DTs) announced in the Federal Budget on 12 May 2026 will have a significant impact on tax planning and investment structures including impacting SMSFs. The Government’s justification The Labor Government’s stated policy behind the proposed change is to improve ‘the [read more]
Introduction This article is the first part in a series that covers the key aspects of super contributions. To grow your super with contributions and derive maximum benefits, it is important to understand the opportunities and traps involved. A robust contribution strategy should consider, among other things, the technical rules, contribution caps and the treatment [read more]
With Div 296 now commencing from 1 July 2026 many advisers and trustees are asking us: ‘Do I need to update my deed?’. As usual, the answer is not straightforward. What is Div 296? Generally speaking, tax outcomes for an SMSF are driven by the relevant legislation and regulations, with the deed having a more [read more]
One of the most significant tax concessions available to SMSFs is the exemption for income derived from assets supporting retirement phase pensions. Exempt current pension income (ECPI) can substantially reduce or eliminate the tax payable by a fund once members commence retirement phase income streams. However, the ECPI framework is often misunderstood. Advisers must navigate [read more]
The Payday Super (PDS) regime requires employers to pay superannuation guarantee (SG) contributions at the same time as they pay salary and wages from 1 July 2026. Further, these SG contributions must be received by the relevant superannuation fund within 7-business days. This article focuses on the key risks and considerations for employers who make [read more]
The ATO’s Practical Compliance Guideline, PCG 2026/1 – Payday Super: first year ATO compliance approach (the PCG) provides no real comfort for employers who do not comply with the strict provisions and time frames of the law. A legislative transitioning rule is needed that provides legal protection to employer’s. The ATO acknowledges in the PCG [read more]
From 1 July 2026, the Payday Super regime will be in effect and will require employers to pay superannuation guarantee (SG) contributions at the same time as they pay salary/wages (Payday Super). Payday Super replaces the current requirement to pay SG quarterly where employers have had 28 days from the end of each quarter to [read more]
