Last-minute legislative whirlwinds and their impacts on the SMSF sector
Release Date: 12/04/2024
Why SMSFs are embracing digital assets, with Tim Wilks
The SMSF Adviser Show
In this episode of the SMSF Adviser Show, CoinSpot chief business development officer Tim Wilks joins host Keith Ford to break down the rapid rise of digital asset investing within the SMSF sector – and why trustees are increasingly looking to crypto as part of a broader diversification strategy. Wilks explains how institutional adoption, regulatory progress and improved compliance frameworks have helped shift perceptions of cryptocurrency from a speculative punt to a legitimate high-growth asset class. Tune in to hear: Why SMSFs are increasingly allocating to...
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Unpacking some of the lessons learned at the SMSF Adviser technical strategy days
The SMSF Adviser Show
In this special episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn are joined by Liam Shorte, managing director of SONAS Wealth, and Phil Broderick, principal at Sladen Legal, at the SMSF Technical Strategy Day in Sydney. Shorte joins the show to discuss the evolving world of contribution and why it’s important to understand the contribution rules and caps to ensure planning decisions remain sound regardless of the final policy settings. Listen as Broderick unpacks a range of estate planning issues he covered in his session at the strategy day, including how some...
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Inside the evolving world of SMSF lending
The SMSF Adviser Show
After nearly two decades, the SMSF lending market has matured into a stable and well-regulated segment – yet complexity and misconceptions persist. Bluestone Home Loans head of specialised distribution, Richard Chesworth, joins host Keith Ford to break down the nuances of limited recourse borrowing arrangements (LRBAs). From redrawing for property repairs to understanding offset structures and pre-2018 grandfathering rules, Chesworth highlights that success in SMSF lending depends as much on precision and teamwork as it does on opportunity. Listen as they discuss: How advisers can work...
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Unpacking the new super tax
The SMSF Adviser Show
The announcement this week from the government outlining the changes to the $3 million super tax was met with relief, but there are still many unknowns. On this episode of The SMSF Adviser podcast, hosts Keith Ford and Aaron Dunn unpack the changes from the initial proposal to the current version released this week. The discussion emphasises that while the major concerns of taxing unrealised gains and lack of indexation have been addressed, many technical details still need to be clarified through the legislative process and further consultation. Listen as they discuss: Taxable earnings:...
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Unpacking the latest amendments
The SMSF Adviser Show
Updated legislative and regulatory instruments were added to the ever-expanding cache in the SMSF sector last month. In this episode of the SMSF Adviser podcast, hosts Keith Ford and Aaron Dunn unpack what it all means with Bryce Figot, special legal counsel for DBA Lawyers. Figot delves into the changes made in LCR 2021/2 and TR 2010/1, focusing on non-arm’s length income provisions and contributions and specifically how they may affect professionals working in the sector. Listen as they discuss: The new “safe harbour” example (7A) in LCR 2021/2. Paragraph 51, outlining discounted...
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The waiting game
The SMSF Adviser Show
The SMSF sector is in a holding pattern as key regulatory and legislative changes remain unresolved. In this episode of the SMSF Adviser podcast, hosts Aaron Dunn and Keith Ford discuss some of the key changes that are still to be clarified, such as the Div 296 tax and the much-anticipated NALI/E amendments. The podcast touches on recent updates from the ATO, specifically regarding Law Companion Ruling (LCR) 2021/2 relating to super contributions and the recently released annual Class Benchmark report. Listen as they discuss: Revelations that more SMSFs will be impacted by the proposed...
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Getting it right: the challenge in market valuations
The SMSF Adviser Show
Market valuations have emerged as a crucial area in the SMSF sector, particularly in light of regulatory changes and heightened ATO scrutiny. The looming spectre of Division 296 further complicates the landscape, particularly regarding the methodology used for valuations. In this episode of the SMSF Adviser Podcast, host Aaron Dunn, chief executive of Smarter SMSF, is joined by industry stalwart Shelley Banton, head of technical for ASF Audits, to delve into the changing expectations for valuations and meeting the challenging compliance requirements. Listen as they discuss: The complexity of...
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Unravelling the new pension rules
The SMSF Adviser Show
The updated rules on when a pension commences and ceases have created confusion in the SMSF sector. On this week’s episode of the SMSF Adviser podcast, hosts Aaron Dunn and Keith Ford delve into the intricacies of TR2013/5 with Tim Miller, head of education and technical for Smarter SMSF. Miller explains how the revised ruling, which was updated in June 2024, primarily reflects changes from the super reforms introduced on 1 July 2017. He provides a fresh perspective on what needs to happen when a super income stream fails to meet the pension standards for a financial year, particularly with...
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Reform and regulation: the challenges
The SMSF Adviser Show
Australia is currently grappling with a complex web of regulatory reforms, which has left many advisers in a state of limbo. In this episode of the SMSF Adviser podcast, hosts Keith Ford and Aaron Dunn discuss the pressing issue of financial advice reform. One of the most troubling issues is in the advice sector, and after nearly three years since the Quality of Advice Review (QAR) report was delivered, the sector is still waiting for significant progress. Listen as Keith and Aaron discuss: The fragmented nature of the regulatory framework. The challenges in the requirement for an account...
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Exploring Division 296 alternatives that don't tax paper profits
The SMSF Adviser Show
In the latest episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn break down some of the alternative methods to remove concessions for large super balances without resorting to taxing unrealised gains, with a range of options being delivered in recent weeks. The IFPA put forward compulsory cashing, while Geoff Wilson and Wilson Asset Management offered up a progressive super surcharge model, with both looking to meet the government’s stated aim for Division 296 in a manner that leaves unrealised gains untouched. Listen as they discuss: What is missing when the government talks...
info_outlineFollowing a whirlwind of legislative activity in the last few days of the parliamentary sitting calendar for the year, the Senate passed a number of bills via a guillotine motion.
Although the controversial Division 296 tax was not among them after a last-minute reprieve, several other bills were passed that will ultimately affect the SMSF sector.
In this final episode of the SMSF Adviser Podcast for 2024, hosts Keith Ford and Aaron Dunn, CEO of Smarter SMSF, discuss the implications of these measures.
Listen as they discuss:
- The perseverance and success of the campaign by the SMSF Association regarding the Division 296 tax.
- The objective of super bill and how it may influence future policy decisions.
- The collapse of wealth management companies, particularly Dixon Advisory, and its impact on the Compensation Scheme of Last Resort.
- The ATO’s updated advice on long-running NALI regulations.