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The Coalition has reintroduced The Superannuation Legislation Amendment (Reducing Illegal Early Release and Other Measures) Bill into parliament, with a revised start date of 1 July 2014. If it is passed, the legislation will implement a new ATO penalty powers regime and has been welcomed by the SMSF sector. Before […]

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The Federal Government has made a major announcement regarding the future of 92 outstanding tax proposals from the former Labor government. Recognising the uncertainty caused by the lack of progress on so many revenue amendments, the Treasurer announced that: 18 announcements would proceed as announced 3 announcements would proceed with […]

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A Reader asks:  Hi Noel , We would like to lend money to our SMSF and found your interesting article:  http://www.noelmay.com.au/blog/can-i-lend-money-to-my-smsf/.  Can you please advise if we need to setup a company or trust in order to make it legal? —-William —- Noel’s response: Hi Will, Any borrowing must be a […]

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The Federal Government has announced the abolition of the Statutory Formula for car fringe benefits. When? The changes apply for all new arrangements contracted after 16 July 2013 and will be effective from 1 April 2014. Existing arrangements remain OK Arrangements contracted before 16 July 2013, and not materially varied […]

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