As many of you will be aware, if you make a single non-concessional contribution that is in excess on the cap limit, you can have the excess amount refunded to you without any excess contributions tax issues.
Measures were introduced on the 7th August 2012 to make amendments to the SIS Regulations that cover the next group of changes from the Stronger Super recommendations.
Treasury have recently released the latest round of draft regulations which give effect to more of the Stronger Super reforms.
This covers the new requirements for all SMSF trustees when formulating their SMSF investment strategies. Plus there are new provisions around valuing the fund's assets, and keeping the assets of the fund seperate from your own personal assets.
This episode covers the pushing back of the start dates of numerous previously announced measures from the Stronger Super reforms. Plus a few other issues from SISFA.
This episode covers the release by Treasury of the latest round of Stronger Super reforms. This includes trustees needing to consider insurance as part of their SMSF investment strategy, money and other assets of an SMSF be kept separate from money and assets held by a trustee personally, and for SMSFs to value the assets of the fund at "net market value" for reporting purposes. The update also covers the ATO final ruling on SMSF borrowing issues, and a few other issues.
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