SUPERCentral News
Total Superannuation Assets have a value of 237% of Australia’s GDP while Total SMSF Assets have a value of 55% of GDP. APRA estimates the dollar value of Total Superannuation Assets as at 30 June 2026 to be $4,767 billion with the dollar value of Total SMSF Assets (also at 30 June 2026) to be $1,107 billion. The nominal value of Australia’s GDP is estimated to be $2.012 billion.
The deeming rates will be increased by another 50 basis points from 20 September 2026. The rates will now be 1.75% (increased from 1.25%) and 3.75% (increased from 3.25%). The increases are in line with the Government’s policy that the deeming rates for the Centrelink Income Test should be steadily increased to match available investment earnings rates. Consequently, there is a strong likelihood that the deeming rates will be further increased on 20 March 2027.
From 20 September 2026, both the basic rate and the pension supplement has been increased. For a single person the age pension will be $1,237.70 per fortnightly instalment period. This constitutes an increase of $36.80 per fortnightly instalment period. Previously, the age pension rate was $1,200.90 per fortnightly instalment period.
A reversionary pension is a pension which, on the death of the member, automatically transfers to a nominated individual who is called the reversionary beneficiary. Reversionary pensions have a number of significant advantages including:
Bill has just commenced an account based pension payable from the B&M SMSF. The pension is reversionary to Mary, who is Bill’s wife. If Mary dies before Bill, what happens to Bill’s pension? Does the pension stop? Does the pension continue? Must the pension be re-started? Must the pension be varied to appoint another reversionary beneficiary? Does the pension end on Bill’s death, or is the pension payable to Mary’s estate?
Now that SUPERCentral has attained age 20, what are the top 5 reasons SMSF trustees use the SUPERCentral governing rules updating service? While operating an SMSF is like operating a company: costs and compliance are as important as having control over the Fund’s operation.
Recent changes to the NSW Enduring Guardianship regulations have added a new power for your guardian, which is somewhat controversial and may not sit well with many people. But if you don’t agree to this new power being added, the operator of your preferred aged care facility may not be prepared to accept your application.
Can an adult child and a parent be in an interdependency relationship? In the view of the ATO it seems highly unlikely as the ATO considers that an adult child and a parent cannot satisfy the “close personal relationship” requirement of an “interdependency relationship”. The ATO seems to identify a “close personal relationship” as being equivalent to a mutual commitment to having a shared life above and beyond that of a parent/child relationship. But is the ATO’s view supported by the relevant legislation?
From 1 July 2026, ATO penalties for SMSF breaches have increased. The dollar value of each penalty is now $364. Previously it was $330. Being in control of a superannuation fund does not come without responsibilities or obligations and the ATO is now able to hit trustees where it hurts the most (their wallet!) if they forget this.
From 1 July 2026 the PayDay Super system applies to Superannuation Guarantee contributions (SG contributions). Essentially, when an employer pays their employees, they must also pay the SG contributions due in respect of the employee. Generally, the employer is required to ensure that the SG contribution payment is received by the employee’s superannuation fund within 7 days of the employee’s pay day.
The ATO keeps a list of providers of Electronic Service Addresses for SMSFs. The current list (accessible from the ATO website by using Quick Code 47550) is set out below:
The Good News! The ATO has now issued a detailed statement on the transitional arrangements applying to the now legislated ban on Residential Limited Recourse Borrowing Arrangements (the Ban). The Ban applies from 10 August 2026. From that date, new LRBAs where the property to be acquired is real property (aka real estate), then the property must be business real property. Essentially, the Ban applies to a real property LRBA based upon the date of contract of sale (that is the date of exchange of the contract of sale). If the contract date is 9 August 2026 or earlier – then the Ban will not apply. Consequently, the real property could be residential or business property. It is irrelevant whether loan approval is acquired before or after 10 August 2026. If the contract date is 10 August 2026 or later – then the Ban will apply. Consequently, the real property must be business real property.
Two significant deeming thresholds will increase on 1 July 2026. The first is the threshold at which the higher deeming rate of 3.25% applies. The second is the income free threshold at which income in excess of the threshold begins to reduce the maximum age pension amount.
Small business turnover threshold for the CGT small business concessions will increase to $10m from the current $2m. This change is proposed to apply from 1 July 2027. Currently, one access condition, for the CGT small business concession is that the taxpayer (or affiliate or connected entity) carries on a business with a turnover (on an aggregated basis) of less than $2m.
With little policy justification (other than a political trade off and a vague reference to concerns that residential Limited Recourse Borrowing Arrangements (LRBAs) raise risks for superannuation investors) the Government has announced (by Press Release dated 23 June 2026) that it will support a Green’s proposal to ban future LRBAs where the asset is residential real estate – “residential LRBAs”.
As you are no doubt aware From 1 July 2026 under new Anti-Money Laundering and Counter Terrorism Funding Laws we are now required to conduct Customer Due Diligence (CDD) to verify clients identity and obtain additional information before we can provide designated services.
The following contribution caps will apply for the 2026/27 financial year. The contribution caps determine the amount of contributions which receive favourable tax treatment. If the contribution caps are exceeded, then the excess amount will receive less favourable tax treatment.
While three significant changes were announced in the 2027 Federal Budget (that is the Federal Budget for 2026/27 financial year) to the taxation of capital gains, negative gearing and discretionary trust distributions, these changes will not apply to superannuation funds including self managed superannuation funds.
From 1 July 2026, the system for mandatory employer superannuation contributions (SG system) will move from a quarterly in arrears payment arrangement to a PayDay arrangement – where the employer contribution must (subject to limited exceptions) be made within seven days of the payment of the employee’s wages and salary. It seems many employers will make their PayDay SG contributions on the same day as their wages/salary runs.
Trustees and members need to ensure that each pension will satisfy the “minimum drawdown requirement” before the end of the financial year. Early detection of a likely underpayment means that corrective action can be taken before and hopefully well before 30 June 2026.