Written by Shelley Banton, Head of Technical, ASF Audits First Published by ASF Audits: https://asfaudits.com.au/from-mfa-to-the-sock-drawer-security-in-smsfs Security in SMSFs comes in all shapes and sizes. Tech-savvy SMSF trustees will have multi-factor authentication (“MFA”) enabled for all their investments, while others will happily rely on a sock drawer to store passwords. In the wake of recent cyber…
March 2, 2023
Government provides clarity on proposed cap on high super balances
Written by Fabian Bussoletti, Technical Manager, SMSF Association Following the Government’s release of the 2022-23 Tax Expenditures and Insights Statement, a media release issued by ministers Jim Chalmers and Stephen Jones on Tuesday heralded the pending arrival of the highly anticipated cap on high superannuation balances. While there are only limited details from which we…
December 6, 2021
The taxing problem of foreign pension transfers (Part 2)
Written by Tracey Scotchbrook, Policy Manager, SMSF Association In my previous article, ‘So you’re thinking about transferring your foreign pension fund to Australia‘, I highlighted some of the important things you need to consider before transferring your foreign pension funds to Australia. In this article I will explore the Australian income tax implications. Where a…
November 26, 2021
So you’re thinking about transferring your foreign pension fund to Australia (Part 1)
Written by Tracey Scotchbrook, Policy Manager, SMSF Association For people who have previously lived and worked overseas they will likely have a foreign pension fund. It is understandable that there is a desire to consider transferring the proceeds of these pension funds into Australia. The reasons for doing so are varied but are often about…