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1 week ago | 
ifa.com.au | Keeli Cambourne |Shy-ann Arkinstall
In a joint statement, the SMSFA, Council of Small Business Organisations Australia, National Farmers’ Federation and the Family Business Association said plans to tax paper gains is tantamount to “confiscation” and “punishes aspiration, destroys liquidity, and turns volatile market movements into tax bills”.
“The absurdity of taxing paper gains is laid bare with the recent turmoil in investment markets.
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2 weeks ago | 
smsfadviser.com | Keith Ford |Keeli Cambourne
The Coalition has not softened its stance on the division 296 tax on assets above $3 million within super, with Taylor confirming he is “100 per cent dead against it”.
Speaking at Momentum Media’s Election 2025 event on Thursday morning, the shadow treasurer noted that the “good news” is that the bill never managed to get through Parliament, so a potential Coalition government would not need to repeal it.
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2 weeks ago | 
smsfadviser.com | Maja Garaca Djurdjevic |Keeli Cambourne
The financial services sector will be integral to Australia’s economic resilience and future prosperity, according to shadow treasurer Angus Taylor, who has pledged a sweeping restoration of the financial advice profession under a Coalition government.
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1 month ago | 
smsfadviser.com | Keith Ford |Keeli Cambourne
Treasurer Jim Chalmers has handed down the federal budget, with the SMSF sector keeping a close eye on the government’s Div 296 position.
The government has remained staunchly committed to the division 296 $3 million super tax in recent months despite wide-ranging pushback on the controversial measure.
Tuesday night’s budget confirmed that the government has no plans of backing down on the tax and will take what the SMSF Association called an “ill-conceived initiative” to the election.
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1 month ago | 
smsfadviser.com | Keith Ford |Keeli Cambourne
On Friday afternoon, outgoing Financial Services minister, Stephen Jones, delivered one of his final acts for the financial advice sector before he exits politics at the election, detailing the next stage of the long-awaited Delivering Better Financial Outcomes (DBFO) reforms.
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1 month ago | 
smsfadviser.com | Keith Ford |Keeli Cambourne
The complaints authority has highlighted the intersection of conflicted advice models and SMSFs as being a significant contributor to complaints that end up at the CSLR.
SMSFs and conflicted advice are the “main drivers of our complaint volume”, the Australian Financial Complaints Authority (AFCA) has said.
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1 month ago | 
investordaily.com.au | Keeli Cambourne |Jessica Penny
17 March 2025 06:06 PM By Keeli Cambourne and Jessica Penny 6 minute read Facebook X LinkedIn Copy link The government must prioritise tightening superannuation tax breaks and lowering the Division 296 tax threshold to $2 million, the Grattan Institute has urged, warning that current settings are unsustainable.
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1 month ago | 
smsfadviser.com | Maja Garaca Djurdjevic |Keeli Cambourne
A top Treasury official has shed light on the confidential document circulated among funds this month, telling Senate estimates that Treasury is “testing a hypothesis”.
A confidential document outlining voluntary best practice principles to help super funds manage rising withdrawals is being consulted on with funds and industry groups.
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1 month ago | 
smsfadviser.com | Keith Ford |Keeli Cambourne
Two individuals with connections to the embattled Shield Master Fund have had their assets frozen.
Following applications made by the Australian Securities and Investments Commission (ASIC), the Federal Court has made interim orders freezing certain assets of Melbourne-based financial adviser Ferras Merhi and Osama Saad, former director of Aus Super Compare Pty Ltd (in liquidation) and Atlas Marketing Pty Ltd (in liquidation).
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2 months ago | 
smsfadviser.com | Keith Ford |Keeli Cambourne
The major collapses making the largest impact on the cost of the CSLR levy have largely been related to SMSF advice; however, the FAAA’s CEO has said the structure itself is not at fault.
In its submission to the Senate inquiry into the Dixon Advisory collapse, the Compensation Scheme of Last Resort (CSLR) operator detailed some of the “recurring themes of misconduct” it had identified since the scheme kicked off.
