Administering and Reporting

Administering and ReportingSMSF InsightsUnderstanding SMSFs

Increase in CPI a positive for superannuation strategies

Written by Fabian Bussoletti, Technical Manager, SMSF Association According to the latest data from the Australian Bureau of Statistics (ABS) released yesterday, the Consumer Price Index (CPI) rose 0.2 per cent in the December 2024 quarter and 2.4 per cent annually. While this may have broader implications for the economy, from a superannuation strategy perspective,…

Administering and ReportingSMSF InsightsUnderstanding SMSFs

Scams Awareness Week: ATO’s Fight against illegal early release schemes and your trustee responsibilities

Written by Mary Simmons, Head of Technical, SMSF Association Scams Awareness Week is the perfect time to highlight the Australian Taxation Office’s (ATO) ongoing efforts to crack down on promoters of illegal early release (IER) schemes. As an SMSF trustee, it’s essential to understand both the ATO’s role in taking action against these promoters and…

Administering and ReportingSMSF InsightsUnderstanding SMSFs

ATO releases updated superannuation rates and thresholds

Written by Fabian Bussoletti, Technical Manager, SMSF Association Each year, several key superannuation rates and thresholds are indexed in line with movements to Average Weekly Ordinary Time Earnings (AWOTE) or the Consumer Price Index (CPI). Following the recent release of these key statistics by the Australian Bureau of Statistics (ABS), the ATO has officially released…

Administering and ReportingSMSF InsightsUnderstanding SMSFs

ATO makes changes to the Small Business Superannuation Clearing House

Written by Mary Simmons, Head of Technical, SMSF Association In mid March 2024, the Australian Taxation Office (ATO) launched a crucial update to the Small Business Superannuation Clearing House (SBSCH). This update introduces a new feature: SMSF bank account validation. This change aims to increase the accuracy and safety of super contributions for everyone involved.…