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SuperIQ is an intuitive Self Managed Superfund System that’s designed to link all the services you may need, helping you to make the best decisions about your financial future.

Tag: Investments

Superannuation Update - Friday 1 November 2013

A number of announcements have been made this week which are worth mentioning:

1. Repeal of the mining tax and other related measures

Federal Parliament resumes next week and top of the agenda is to repeal the Minerals Resource Rent Tax (MRRT) and other related tax measures that were included in the Coalitions election promises.

The Coalition Budget Reply Speech 16 May 2013 and its Plan for Superannuation

On Thursday 16 May 2013, the Coalition leader, Tony Abbott delivered his Budget reply speech which included for the first time its plan for superannuation. The Coalition had previously stated that they would not make any unexpected changes to superannuation if they were to be elected. The announcements can perhaps illustrate that the Coalition is very confident that they will win the upcoming election.

These changes are of course only policy announcements and will form part of the Coalition proposals that they have confirmed they will take to the Federal election.

Off-market transfers between SMSFs and related parties

What it means?

The Super System Review (Review into the governance, efficiency, structure and operation of Australia’s superannuation system) was concerned that the off market acquisition and disposal of assets between related parties and SMSFs, where both the buyer and seller can effectively be the same person, lacked transparency, is inherently risky and thus open to greater abuse than non-related party transactions.