2020 was an extraordinary year on many fronts – from natural disasters, both in Australia and abroad, to the impacts of the COVID-19 pandemic, the Black Lives Matter movement and the spotlight on the destruction of Indigenous cultural heritage. From an investment perspective, the challenges of 2020 have reinforced the link between social, environmental and financial outcomes.
Legislation was enacted just before the end of the financial year that means from 1 July 2021, it is now possible to have up to 6 members in a SMSF. In this podcast, we look to the benefits and risks of raising fund membership. We also explore changes made to the capital gains tax treatment of granny flat arrangements that also took effect from that date.
There have been several changes to contribution caps for the 2021/22 financial year. Contribution caps and total super balance thresholds have been indexed and there have also been some changes to the bring-forward rule. In this podcast we look at these changes and their implications.
With a large focus on dealing to year end issues, it could have been easy to miss the release of the 2021 Intergenerational Report and a joint communication from ASIC and APRA to super trustees on monitoring advice fees being charged to members’ super accounts. In this podcast we look at these announcements and some of their implications.
30 June is important, not only for individuals, but also for those running a SMSF. In this podcast, we look at a number of issues relevant for SMSFs that trustees (and their advisers) should be thinking about at this time of year.