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News

The Senator and Self Managed Super Funds

01/12/2008

The Senator, again at the recent ASFA conference, advised that the SMSF segment (of the super industry) is a robust, important and most healthy area of the market.

Australia's Future Tax System (AFTS ) Review

01/12/2008

This review aka the Henry Review and aka the Roots and Branch review of the Tax System is expected to provide its final report in December 2009.

Pension Review

01/12/2008

This review – aka the Harmer Review – is expected to provide its final report in February 2009.

First Home Saver Accounts & Super

14/11/2008

The legislation to support these financial products is now operational.

Treatment when FHS Account balance is transferred to into Super

14/11/2008

The transfer of the account balance to a superannuation fund will be treated as a non-concessional contribution and will be counted against the non-concessional contribution cap. As a non-concessional contribution, the transferred amount will also form part of the tax-free component.