Cutting SMSF red tape

The Government announced in the Budget that it would reduce costs and simplify reporting for superannuation funds by streamlining some administrative requirements for the calculation of exempt current pension income (ECPI). The term ECPI refers to income an SMSF earns…

ATO confirms its approach to exempt current pension income

The Australian Taxation Office has confirmed that self-managed super funds will be required to use the so-called “segregated method” to calculate tax exemptions for superannuation pension income. In what is a contentious decision, the ATO has sugared the pill by…