Media Releases

SMSF Association Media Release The SMSF Association is urging the Government to re-open industry consultation on the proposed $3 million superannuation tax threshold that was included in tonight’s Federal Budget. SMSF Association CEO Peter Burgess says: “Further consultation about this new tax is imperative so that the full impact on the small business and farming…

SMSF Association Media Release The SMSF Association has raised concerns about a proposed legislative change that will exclude certain distributions funded by capital raisings being eligible for franking credits. In its submission to the Senate Economics Legislation Committee, due to report on 26 May, the Association says: “We support measures that prevent tax avoidance and…

SMSF Association Media Release The SMSF Association is urging the Federal Government to deliver stability, consistency, and certainty for superannuation. Association CEO Peter Burgess says: “We support in principle the concept of a legislated Objective of Superannuation. Continual changes to the superannuation system add complexity to what is an already complex system, at the same…

SMSF Association Media Release The SMSF Association has expressed cautious optimism following the release of the Government’s consultation paper, on the proposed reduction of super tax concessions for individuals with super balances exceeding $3 million. Conveying a strong desire for a “simple” approach, the paper confirms the Government’s preference to use a member’s total super…

SMSF Association Media Release But a ‘threshold’ preferrable to a ‘hard cap’ The SMSF Association remains opposed to the introduction of a new threshold on superannuation balances, believing it will add further complexity and undermine confidence, Association CEO Peter Burgess says. “Our preference has always been to have no cap on balances but if the Government…

SMSF Association Media Release The recommendations of the Quality of Advice (QOA) Review will make financial advice more accessible and affordable for consumers. That was the consensus of four industry experts at a Q-and-A session on the final day of the SMSF Association’s National Conference in Melbourne. QOA Reviewer and Allens law firm Partner Michelle…

SMSF Association Media Release The long-term outlook for self-managed super funds (SMSFs) is promising and exciting as an increasing number of younger people want to take control of their personal finances, the SMSF Association Thought Leadership Breakfast heard at its National Conference today. The five-member panel, dissecting the topic How big can the SMSF sector…

SMSF Association Media Release ASIC’s decision to remove $500,000 as an indicator of the “appropriateness of advice” to establish a self-managed super fund (SMSF) has been welcomed by the SMSF Association. In its latest updates on guidance on SMSF advice, released today, the regulator has opted not to nominate a minimum threshold. It does point…

SMSF Association Media Note The Federal Budget, the second for 2022 and the first by the Albanese Labour Government, has delivered certainty for the SMSF sector. Key Points Three-year SMSF audits policy cancelled:In the 2018-19 Budget, it was proposed to introduce a three-year audit cycle for SMSFs that met prescribed criteria. It was a controversial…

SMSF Association Media Release The SMSF Association is urging the Federal Government to address two critical issues – legacy pensions and extending the temporary absence rule for non-residents – in its 2022-23 Federal Budget. In its Budget submission, the Association CEO John Maroney says: “We would like to highlight several key measures announced in Budget…