SUPERCentral News
The Australian Prudential Regulation Authority ("APRA") has recently released some statistics on MySuper superannuation products.
If an SMSF trustee lends money and security which is taken by the SMSF trustee is not a mortgage over real estate, then the security must be registered in the Personal Property Securities Registrar.
The ATO has confirmed that where salary or wages have accrued but are unpaid to a deceased member (and therefore paid to the estate) the employer will also be required to make SG contributions in respect of the salary or wages.
The ATO has issued a case study in respect of a self managed superannuation fund not being treated as being non-complying merely because the fund became a non-resident superannuation fund.
New Bills have been introduced into Parliament to implement the Government's previously announced social security changes - which, it seems, supersede the Bills previously introduced and which remain in the Senate.
The Government has introduced a new Bill to implement its previously announced means test changes to entitlement to the Commonwealth Senior's Health Card (which is an extremely attractive entitlement to have).
The current duty concession on the transfer or sale of real estate held by an individual to their SMSFs has been increased from $50 to $500. This changes applies from 1 July 2014.