Alerts to protect SMSFs from fraud
Aspen Corporate • 29 March 2020
Alerts to protect SMSFs from fraud
A new system alerting SMSF trustees of changes made to their SMSF will roll out this month. The ATO will alert trustees by text and/or email when changes are made to bank details, electronic service address of the fund, the authorised contact and members.
Trustees need to notify the ATO within 28 days of key changes to the fund including a change in trustees, directors of the corporate trustee, members, contact details, address and fund status.
The superannuation guarantee rules are broad and, in some circumstances, extend beyond the definition of common law employees to some directors, contractors, entertainers, sports persons and other workers.
The amount of money that can be transferred to a tax-free retirement account will increase to $2m on 1 July 2025.
In the 2025-26 Federal Budget the Government announced a ban on non-compete clauses and “no poach” agreements.
The personal income tax rate reduction announced in the 2025-26 Federal Budget was confirmed, from 1 July 2026, personal income tax rates will change.
Aspen Corp's 2025-26 Federal Budget Update
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