Doesn't April always seem familiar each year? There's the usual "high" from numerous public holidays (you can probably guess I'm writing this right after Easter). For SMSF accountants and advisers, there’s also something far more reliable: the 15 May deadline, and the annual ritual of speculating about what the Federal Budget might contain. It's a gruelling exercise. We routinely invest more intellectual energy anticipating the Budget than the Government has spent drafting it. But the 15 May...

March has shaped as a pivotal month for Australia’s superannuation system, with the proposed Division 296 tax now formally moving through Parliament. The legislation has passed the House of Representatives and is currently before the Senate, where the outcome will hinge on negotiations with cross‑benchers. While passage through the Lower House was expected, the Upper House remains the key gatekeeper. The Bill in its current form reflects the Government’s revised position announced late last...

Overview Where an SMSF pays a retirement phase income stream to one or more members, an actuarial certificate may be required to determine the proportion of the fund’s income that is exempt from income tax. This exemption is calculated under the proportionate (actuarial) method and is referred to as Exempt Current Pension Income (ECPI) . An account-based pension (ABP) is the most common form of retirement phase income stream. Other retirement phase income streams include defined benefit...