Litigation, legislation and retirement: What to expect from 2025
Release Date: 01/15/2025
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...
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TBC increase not as easy as ABC
The SMSF Adviser Show
The increase of the transfer balance cap from $1.9 million to $2 million is not as simple to understand as it seems. In this SMSF Adviser podcast, hosts Keith Ford and Aaron Dunn discuss the implications of the TBC rise implemented at the start of the new financial year with industry stalwart David Busoli. While this shift appears straightforward, it brings complexities, particularly for existing pensioners, due to the intricacies of proportional indexation. Busoli explains how proportional indexation is a critical concept in understanding how the TBC affects individuals and how, for people...
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Where to from here? Planning for the new financial year
The SMSF Adviser Show
It’s the start of a new financial year, but there are still many uncertainties in the SMSF world. In the latest episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn discuss the implications of the upcoming Division 296 legislation, which is set to impact individuals with superannuation balances over $3 million. As the new financial year kicks off, there is a raft of other topics that SMSF professionals need to pay attention to and plan for the year ahead, and Aaron breaks down all of the areas that deserve a closer look. Listen as they discuss: How a lack of certainty is...
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Streamlining the audit process
The SMSF Adviser Show
With just two weeks remaining until the financial year wraps up, getting an SMSF ready for tax time involves ensuring there is a smooth audit process. In this episode of the SMSF Adviser podcast, hosts Keith Ford and Aaron Dunn are joined by well-known industry auditor Deanne Firth, director of Tactical Super. Firth offers some valuable insights and timely reminders for SMSF trustees and auditors to prioritise compliance and leverage available resources to streamline their processes. Listen as they discuss: Obtaining the necessary evidence for valuations, especially concerning private and...
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EOFY super planning and tax strategies
The SMSF Adviser Show
As the end of the financial year approaches, SMSF professionals are gearing up to navigate the complexities of superannuation contributions and tax planning. In this episode of the SMSF Adviser Show, industry stalwart Liam Shorte, director of Sonas Wealth, explains the essential areas that advisers and accountants should address in the next three weeks to optimise super strategies for their clients. Managing clients’ total super balance (TSB) effectively is right at the top of the list, with Shorte explaining the importance of having accurate information and why it’s not always a good idea...
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Media mayhem and Div 296
The SMSF Adviser Show
The $3 million super tax has been headline news around the country over the past couple of weeks and has finally made the front pages of the mainstream media. In this episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn highlight a critical aspect of the debate that has captured the media’s attention: the difference between the perception and the reality of the implications of the Division 296 tax. Listen as they discuss: The misconceptions and a lack of understanding about the legislation's nuances. The political dynamics surrounding Div 296 and its complexities. The broader...
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The Div 296 battle continues
The SMSF Adviser Show
With Labor winning the election with a clear majority, the SMSF sector is now once again poised for battle over the controversial Division 296 tax. In this episode of the SMSF Adviser podcast, hosts Keith Ford and Aaron Dunn sit down with SMSF Association CEO Peter Burgess to talk about the implications of the election results, what it may mean going forward, and the association’s plans to convince the elected politicians on the adverse outcomes of the tax. The podcast will also delve into the latest draft DBFO legislation and how the proposed changes may affect advisers specialising in...
info_outlineIn the first episode of the SMSF Adviser Show for 2025, hosts Keith Ford and Aaron Dunn take a look at the hot topics that will impact the SMSF space in the new year.
The pair discuss the upcoming federal election, which is set to dominate the outlook for the first half of the year, as a range of measures related to SMSF advice hang in the balance and are unlikely to be decided until the polls are closed.
Listen as they discuss:
- Why litigation over estate benefits is expected to continue to grow.
- How a strong focus on retirement outcomes will take centrestage in 2025.
- The possibility of accountants being given a larger role in providing financial advice.