New Treasury Minister rules out super tax changes

The Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator Jane Hume, has reassured self-managed super fund trustees there will no changes to the tax treatment of superannuation in this Parliamentary term. Hume also said the Government could consider…

LRBA safe harbor interest rate increased

The safe harbor interest rate for self-managed super funds borrowing from related parties has been set at 5.95 percent for the 2019/20 financial year. This is an increase from 5.8 per cent in 2018/19. Trustees must maintain their related party…

New event based SMSF reporting not well received

The Australian Taxation Office is introducing event based reporting for self-managed superannuation funds, which means that funds will have to report certain events in “real time”. Events based reporting rules for SMSFs apply from July 1 but The ATO is…