Category: Blog
⚠️ Important Update for SMSF Trustees – ATO Tightens Disqualification Guidance
The Australian Taxation Office (ATO) has updated its guidance on when an individual may be disqualified from acting as a Self-Managed Super Fund (SMSF) trustee. The revised Practice Statement PS LA 2006/17 expands the Commissioner’s powers and clarifies the factors considered when assessing truste..Read More
QROPS Transfers into Australian SMSFs: Do You Need to Segregate Funds?
When transferring a UK pension into Australia under a QROPS , one of the most common points of confusion is whether the transferred funds must be kept in a separate account or legally segregated within a SMSF. The short answer is: no separate brokerage or bank account is required,..Read More
SMSF Death Benefit Options for a Surviving Spouse: Pension, Rollover, and Reversionary Pension Explained
When a spouse passes away and an SMSF death benefit needs to be paid, there are several compliant options available depending on the surviving member’s goals, transfer balance cap position, and income needs. At iCare Super, we often help trustees structure death benefit payments in a tax-effective..Read More
SMSF Related Unit Trusts: What Happens if Money Is Paid to a Member by Mistake?
Related unit trusts are commonly used in SMSF structures, particularly where business premises or property investments are involved. While these arrangements can work well, trustees need to be careful when money moves between the trust, the SMSF, and members personally. Why Related Unit Trusts Ma..Read More
SMSF Update: Public Trustee Nominee Rules Explained
New legislation may soon change how self-managed super funds (SMSFs) handle trustee arrangements in certain situations. The Treasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Bill 2026 proposes updates to the Superannuation Industry (Supervision) Act 1993 (SIS Act), giving SMSF..Read More
Can an SMSF Buy Business Equipment and Lease It to a Related Party?
Many business owners explore whether a Self-Managed Super Fund (SMSF) can purchase business equipment—such as vehicles, machinery, or tools—and lease it back to their own business. While this may sound like a smart tax and cash flow strategy, the rules around SMSFs make this difficult in..Read More
Division 296 CGT Election for SMSFs
Purpose of the CGT Election (Division 296) The Division 296 CGT election allows an SMSF trustee to reset the cost base of CGT assets held as at 30 June 2026 to their market value on that date. The main aim is to avoid double taxation of growth in asset value where part of the gain accrued befo..Read More
Division 296 Tax Changes Now Law
New legislation has passed parliament with no amendments, introducing Division 296 to reduce tax concessions for individuals with very large super balances and updating the Low-Income Superannuation Tax Offset (LISTO) to align with broader tax and super rules. What This Means for High-Balance Sup..Read More
2026–27 Superannuation Rates and Thresholds
The 2026–27 financial year brings several important changes to Australia’s superannuation system. These updated caps and thresholds affect how much you can contribute, how pensions are managed, and whether additional tax may apply. Understanding these limits is essential for effective retirement..Read More
Division 296 Tax: Implications for Members with High Superannuation Balances
The Australian Government has announced the introduction of Division 296 tax, a new measure that applies to individuals with high superannuation balances. The tax is scheduled to commence from 1 July 2026 and will primarily affect members whose total super balance exceeds $3 million. Although the..Read More