In an article for the website Smart Company, Kirsten Robb sheds light on the financial advice unethically offered by real estate agents. It should be noted that property promoters who don’t carry an Australian Financial Services (AFS) license are not eligible to give recommendations on SMSF-routed real estate investments. Yet, this is what’s exactly happening rampantly.
In an article for the website Super Review, Mike Taylor suggests that the prevailing Super tax regime can work quite well and lofty changes need not be made in the structure. It is nice to think of altering the concessional contribution cap, contravention threshold, and a few more things to an extent, but it does not mean we start making real big changes to the regime.
In an article for the website Investor Daily, Miranda Brownlee suggests that the really flashy super funds which propose expensive features and services do nothing to make life better for their members.
On the website of the Inspector General of Taxation (IGT), a review in regards to the compliance required for excess contributions tax is being posted. Agreed that the concessional contributions corner a big pie of discussions but no one can deny that the exorbitant tax on non-concessional contribution is also a point of debate.
A written piece on the Australian Taxation Office’s (ATO) website talks about a free SMSF webinar the ATO is hosting from the 10th of June to the 27th of June in order to educate the SMSF auditors and tax agents about the regulation changes from the 1st of July 2014.
The ATO is being vested with a substantial amount of powers where it comes to dealing with non-compliance on the part of super fund owners. A piece on the website of Australian Taxation Office sheds light on them.
An article on the website ato.gov.au talks about the Division 293 Tax Legislation. This is the one that proposes lesser super tax concessions for very high income earners (as subjective as the term remains). The 2012 Federal Budget took it upon itself to create a fair playing ground for high earners and average earners.