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.

I’m an SMSF professional with a number of SMSF clients. There’s been so much noise around NALE issues lately that I’ve lost touch with what I need to be addressing right now and what is still awaiting clarification from the ATO. Please remind me.

Are you like me and tired of the rhetoric from the big end of the superannuation town that always portrays SMSFs as slightly dodgy, overpriced fashion accessories that people with too much time and money like to have?

The general TBC will increase to $1.7m from 1 July 2021. The quirky method for translating that to individual clients will create plenty of confusion. It is fertile ground if the government really is keen to simplify laws and remove red tape.