Last year’s Budget was delayed (like so many things) thanks to Covid-19 and was released in October 2020. This year, we have reverted to the normal “2nd Tuesday in May” arrangement and so the budget will be brought down on Tuesday 11 May 2021.

When SMSFs have finished their useful life and are being wound up, doing so before the next 30 June rolls around is a common objective. What are the top issues to consider this year?

These rules allow anyone who does not use the full amount of their concessional contributions cap in a particular year to carry the shortfall forward for up to five years and potentially “catch up” later. Who should be thinking about this in 2020/21?

The Government’s new director ID regime seems to be gathering pace faster than I had anticipated. Is there anything I should be doing right now?

It seems adviser-bashing remains a popular pastime for politicians, regulators, other professions and sometimes even advisers themselves. There are also accountants who should not be doing SMSF work.

We recently flagged that the ATO was still working out what to do next with LCR 2019/D3. When finalised, this ruling will set out the Commissioner’s view on how the rules for non arm’s length expenses (NALE) work.

The conventional wisdom is that most people who can start retirement phase pensions should do so as soon as possible. Here are a few things to weigh up when deciding whether or not to start a pension before 1 July 2021.

A friend and I are co-directors of a small private business. Surely we’re “related parties” for super law purposes?

There are some occasions when a pension can be paid to a person well before retirement, but timing matters and it’s important to understand the system’s quirks.

Like most actuaries, I’m a maths nerd. That’s why I always enjoy reading the latest ATO statistical report on SMSFs shows how our sector is changing over time and helps us spot trends that are important for the future retirees of Australia.

The ATO drove a focus on investment strategies by auditors this year. Will audit independence requirements prompt a similar focus next year? How should accountants and advisers help their clients?

Late last week the November 2020 Average Weekly Earnings data was released which means we now know for sure that the concessional contributions cap will increase from $25,000 to $27,500 from 1 July 2021.