Category: Latest News

The Most Held Currencies in the World | 1850-2024

Check out the most powerful Currencies in the World | 1850-2024

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SAR non-lodgment continues to be a concern: ATO

The non-lodgment of superannuation annual returns continues to be one of the ATO’s major concerns, the deputy commissioner for superannuation has said.

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Investment and economic outlook, February 2025

The latest forecasts for investment returns and region-by-region economic outlook.

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Increase in prohibited loans a concern: ATO

While the amount of illegally accessed funds from SMSFs has reduced, the amount of prohibited loans has gone up, the Commissioner of Taxation has said.

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Home is where the super is for many Australians

More Australians are upsizing their super by downsizing their home.

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Retiree confidence undermined

Cost-of-living pressures have eroded retiree confidence and prompted many to recalibrate their expectations, according to a new financial services sector report.

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Four SMSF breaches high on the ATO’s radar

The Tax Office is actively targeting SMSF trustees over a range of super breaches. Home ownership is still the great Australian dream for many people.

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TBC increase not just about pensions

An industry consultant has reminded practitioners the indexation measure to be applied to the general transfer balance cap will have implications for other elements of the superannuation system as well that are unrelated to income streams.

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Up to 700k retirees could be paying more tax than they should: SMC

Lack of proper financial advice is costing hundreds of thousands of retirees in unnecessary taxes, the Super Members Council has said.

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Australia’s economic growth set to recover in 2025

GDP growth is set to gain momentum despite sticky inflation and high interest rates.

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How to shift into pension mode

When and how you can access your super to start an account-based pension.

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Calls for clarification on NALI/E rulings

The ATO needs to provide clarification on a number of issues in the law companion ruling dealing with NALI/E, the joint bodies have said.

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Best Selling BOOKS of all Time

Check out the Best Selling BOOKS of all Time

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Five financial steps for the new year

The start of 2025 is a good opportunity to take decisive financial steps.

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Division 296 deliberately deceptive

A senior financial services industry executive has labelled the Division 296 tax as political deception, seeing there has been no honest indication of who the impost will really affect.

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Carer rights – interdependency relationships

The stringent rules applied to the definition of interdependency have again been highlighted in a recent private binding ruling.

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Most Powerful Economies in Europe | 1960-2024

Check out the most Powerful Economies in Europe | 1960-2024

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Investment and economic outlook

latest forecasts for investment returns and region-by-region economic outlook.

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End-of-year break time for super check-up

Superannuants should use the end-of-year holiday break to check the status of their retirement savings and consider if advice would be useful to them, given many are unsure how much they will need at the end of their working life, an industry body has stated.

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9 Ways You Can Invest Using SMSF

Review nine smart ways to invest using an SMSF, from property and international shares to cryptocurrency and managed funds. Maximise your retirement savings wisely.

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It’s super hump month. Make the most of it

The start of the 2024-25 financial year on 1 July saw some significant changes come through designed to help working Australians get more money into their superannuation.

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Super funds finish 2024 with double-digit returns

Most superannuation funds finished 2024 with double-digit returns, according to a recent analysis.

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Know the difference between general and specific NALE

SMSF professionals should take note of the wording changes in Law Companion Ruling 2021/2DC, which outline the differences between specific and general NALE, a legal specialist has said.

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A Unique Advent Calendar

Once again we are pleased to release an advent calendar. One developed especially for you, our clients, your family and your friends. Come back each day and click on the next date for more inspirational and Christmas quotes. We can’t be sure but it seems this year has gone faster than any year previously, we...

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Women still outpacing men in SMSF establishments

More women than men entered into SMSFs in the September quarter, according to the latest ATO statistics.

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Preparing to lodge quarterly January TBAR

The ATO is reminding SMSF trustees that if they have had transfer balance account events in the last quarter they must lodge a TBAR by 28 January 2025.

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$3m super tax officially abandoned for this year

The government’s plan to increase the tax on superannuation balances over $3 million has officially been abandoned, at least for this year.

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Economic and market outlook for 2025: Global summary

The global outlook summary highlights the top-level economic and market outlook, Beyond the landing, to be distributed in mid-December.

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Top 20 Most Watched Christmas Movies ever – pre covid

Check out the top 20 Most Watched Christmas Movies ever - pre covid

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Divorce doesn’t alter contribution rules

The Administrative Appeals Tribunal (AAT) has upheld an ATO decision to impose an excess contributions penalty and rejected a taxpayer’s claim a divorce-related superannuation split constituted special circumstances under taxation law.

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Sofie Korac is an Authorised Representative (No. 400164) of Prudentia Financial Planning Pty Ltd, AFSL 544118 and a member of the Association of Financial Advisers.

Financial Advice Sydney and the North Shore Office based in Lindfield NSW

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