SISFA member newsletter October 2017

  • New director for SISFA Board
  • Michael Lorimer appointed CEO
  • Membership renewals
  • SISFA continues to fight TBAR changes
  • Peter Costello shirt fronts the major super funds
  • We think he's on to something

170906 - SISFA Members Newsletter

  • The ATO wants a new event based reporting system called TBAR that will mean more effort, time and costs for SMSF trustees and practitioners.
  • How will the Productivity Commission measure the efficiency of superannuation without a proper objective and a practical performance benchmark?
  • Making the new super rules work - super industry professionals are gnashing their teeth.
  • A survey shows most SMSF members are happy with their fund’s performance.
  • And plans are well advanced for SISFA’s Annual Forum.


  • Post 1 July – now the hard part, making it all happen
  • SISFA seeks a settling in period for the new super rules
  • The ATO explains its approach to commutation
  • And how the election for CGT relief will work
  • SISFA membership changes
  • Fees charged by major funds a key focus of efficiency review
  • Free seminars on US tax law for Americans living in Australia

170623 - SISFA Members Newsletter

  • The ATO lists the Top 5 Questions for SMSF Trustees with useful ‘By When’ dates.
  • ATO to look closely at second funds
  • Major bank levy will cause ‘collateral damage’ to SMSFs

170510 - SMSFOA Members Newsletter

  • More detail on Budget measures
  • A super incentive for downsizers
  • But levy on banks may be a pain for SMSFs
  • And more complication for those with LRBAs

170504 - SMSFOA Members Newsletter

  •  The ATO explains what you have to do by 30 June
  • Will next week’s Budget affect SMSFs?
  • Yet more legislation
  • Complex rules on SMSF borrowing

 170424 - SMSFOA Members' Newsletter

  • Another political attack on SMSFs
  • Don’t forget there are two $1.6m caps to worry about
  • SMSF Owners’ Board considers future options
  • Retired folk fed up with super changes

170307 - SMSFOA Members newsletter

  • ATO clarifies Capital Gains Tax relief measures
  • Minister says May budget won’t hit super again
  • Industry funds take a swipe at SMSFs
  • Well run SMSFs should not pay for others’ mistakes 



Click on the RED LINK to download

161208 - SMSFOA Members Newsletter

  • Superannuation changes waved through Parliament
  • Superannuation objective lacks ambition
  • SMSF Owners’ chairman lashes Government over super changes

161122 - SMSFOA Members' Newsletter

  • Superannuation Bills before the Parliament will likely be law by Christmas
  • Government makes a couple of sensible changes
  • But the Bills are too complex and still retrospective

161027 - SMSFOA Members’ Newsletter

  • Annual general meeting – 16 November
  • SMSF Owners’ Chairman lambasts Government over super changes
  • Tranche 3 of the draft legislation is released
  • Complexity will increase compliance costs

161004 - SMSFOA Members' Newsletter

  • A raft of draft legislation on the $1.6 million cap
  • What we think it all means
  • What we will be saying to Government about it

160908 SMSFOA Members' Newsletter

  • Government releases draft super legislation…with the hard stuff yet to come
  • Objective of superannuation is defined
  • Stated purpose of super leaves way open for further changes
  • Very tight deadline set for submissions

160719 SMSFOA Members Newsletter

  • Prime Minister not budging on superannuation changes
  • Party room debate on superannuation did not eventuate
  • Kelly O’Dwyer retains superannuation portfolio
  • Questions the Government needs to answer
  • Investors’ Big Day Out seminar dates

160712 SMSFOA Members' Newsletter

  • Coalition returned to Government but at odds on superannuation policy
  • Labor supports a re-think on super
  • We call on Coalition party room to debate super changes when they meet next week.
  • Investors’ Big Day Out seminar dates

160627 SMSFOA Members' Newsletter

  • Brexit must prompt the Government to pause and re-think on superannuation
  • Labor plans to tax super even more
  • Prof Bewley shows that most people won’t be able to save $1.6 million under current policy settings
  • Minor parties pledge to oppose superannuation changes
  • Save Our Super lobby group joins the fray

160616 - SMSF Members Newsletter

  • Newspoll shows most people can’t decide which party is better (or least worst) on super
  • Dr Ron Bewley shows that $1.6m in super is not enough – it should be double
  • Joining up with like-minded groups
  • Keeping up the pressure on the Government

160603 - SMSF Members' Newsletter

  • Bruce Foy urgers members to keep up the good work
  • Our meeting with the Treasurer’s Office
  • Malcolm Turnbull says Coalition will not back down on super
  • The retirement income equation that doesn’t add up
  • Independent Senators pledge to oppose the super tax changes

160526 - SMSFOA_Members'_Newsletter

  • Super tax changes still hot election issue
  • Adverse impacts on super
  • Will the policies and public servants cop it too?

160513 - SMSFOA Members' Newsletter
SMSF Owners convey their concerns about new tax on retirement savings

  • Retrospective? – Yes, we think so
  • Our latest media release and Coalition Brief

160505 - SMSF Members Newsletter
The blindside super tax hit in the Budget is wrong on three fundamental counts:

  • A broken promise
  • a betrayal of trust
  • retrospective

160406 - SMSFOA Members_ _Newsletter

  • Superannuation – what’s it really for?
  • SMSF Owners’ offer our definition of superannuation
  • Stepping up our advocacy effort ahead of the Budget and the election
  • Register for the Australian Shareholders’ Association ‘Grow your portfolio’ conference

160217 - SMSFOA Members Newsletter

  • Game change in tax policy
  • You are one in a million – let the Coalition Government know!
  • Our letter to the PM on super tax and dividend imputation
  • Leave imputation alone
  • Australian Shareholders’ Association conference
  • Professor Sloan nails it again
  • Shock report…you’ll have to read about it

60122 - SMSFOA Members Newsletter

  • Gearing up for an election year with super tax as a key policy issue
  • We write to the Treasurer & Assistant Treasurer with a better super tax plan
  • Our plan removes all super earnings tax with neutral effect on the budget
  • The AFR (and SMH/Age) give our plan a good run


151216- SMSFOA Members Newsletter_14

  • Budget black hole threat to superannuation savings?
  • What the Treasurer is thinking about the future shape of super
  • Meanwhile, SMSFs power ahead
  • Another (predictable) call from the Grattan Institute to cut super contributions and tax earnings in retirement
  • here is Grattan coming from?
  • Who and what are Grattan?


  • SMSF Owners’ Chairman Bruce Foy issues rallying call
  • Chairman’s Report to AGM reviews a busy year
  • Policy smoke signals from Canberra
  • Tell your friends and colleagues about us


  • AGM coming up soon
  • Reading the tea leaves on tax policy change
  • Government response to Financial System Inquiry
  • SMSF Owners appear before Parliamentary Committee
  • New look website easier to use
  • Membership renewals


  • Taxation of super is back on the policy table
  • About Kelly O’Dwyer – our new Minister
  • Josh Frydenberg says thanks to SMSF Owners
  • What next in the tax reform process?
  • SMSF Owners take our $32 billion case to Parliament


  • SMSF Owners congratulates Malcolm Turnbull on becoming Prime Minister
  • We again challenge the $32 billion myth
  • We question Westpac’s chairman on why his bank thinks it’s OK to put a new tax on its customers.
  • Professor Sloan gets it right again

150728-SMSFOA Members Newsletter_9

  • Government rules out superannuation tax increases…but the risk remains
  • SMSF Owners co-ordinate a Joint Letter on superannuation design principles
  •  Our follow-up submission to the Tax White Paper
  • Joe Hockey explains why the Government won’t touch tax on super
  • Duncan Fairweather sums up the current debate over super taxation

150821-SMSFOA Members_Newsletter_8

  • New SMSF Policy Advisory Council formed
  • Tax White Paper deadline on retirement incomes extended
  • Should associations be advocating that their clients pay more tax?
  • Who says you shouldn’t have more than $2.5m in super?

150604-SMSFOA Members Newsletter 7

  • The battlelines are drawn - get set for a Federal election on the taxation of your superannuation savings.
  • The Assistant Treasurer pricks the $32 billion balloon, saying it can’t be used to claim Budget savings (as we’ve always said).
  • SMSF Owners’ submission to the Tax White Paper says the system can be changed for the better without increasing tax on super.
  • One man’s heartfelt view – leave our super alone!
  • Tell your friends it’s now cheaper to join SMSF Owners – we’ve dropped the joining fee for new General Members.

150512-Members Newsletter 6

  • There are no tax measures relating to superannuation in the budget.
  • The budget contains a pledge that “there will be no new taxes on superannuation under this Government.” We interpret this to mean there will be no adverse changes to the taxation of superannuation in the 2016-17 budget either as this will fall before the next election is due.
  • The budget confirms that the assets test taper rate for Age Pension eligibility will be steeper. For every $1,000 of assets (excluding the family home) over the threshold, the pension rate will be reduced from the current $1.50 to $3.00.
  • We believe this is a good first step towards a properly constructed 3 pillar retirement system in which the Age Pension primarily a safety net for a minority of Australians.
  • Some SMSF owners may be interested in small business measures which will reduce the tax rate for small companies and sole traders; make it easier for small business to raise capital; allow immediate write off of each capital purchase of less than $20,000. Unincorporated small businesses will get a 5% tax deduction up to $1,000. These arrangements start now and continue until mid-2017.

150511-SMSFOA Members Newsletter 5

  • As very low interest rates squeeze superannuation fund earnings, we write to the Assistant Treasurer to ask the Government to reconsider minimum superannuation pension withdrawals. Read our letter to the Minister below.
  • SMSFOA will be in the Budget lock-up tomorrow - Tuesday 12 May - and we aim to send you a report on how the Budget might affect SMSFs.

150428-SMSFOA Members Newsletter 4

  • Negative responses to the Labor plan to tax super earnings in retirement
  • SMSFOA says super taxes should be considered in the context of the Tax White Paper
  • The proposed tax will catch more people than Labor says because it’s not indexed and income will vary according to fund performance
  • The Government labels Labor’s retirement tax as a revenue grab that will target the middle class

150325 -SMSFOA Members Newsletter 3

  • Status of our submissions to Government
  • $32bn myth exploded
  • Australian Shareholders’ Association Conference
  • Bacon, Super and Eggs Breakfast
  • SMSFOA’s Thought Leaders’ Roundtable
  • Media Release - Finally it's official - focus on $32 billion cost of superannuation is misleading
  • Professor Sloan weighs in again - Super rules favour politicians, not the rich

150228 -SMSFOA Members Newsletter 2

  • SMSFs in the political firing line again as major policy reviews loom.
  • Finance Minister again pledges no unexpected, adverse changes to super.
  • Expert commentators debunk the myth that super tax concessions are breaking the budget.

150129-SMSFOA_Members_Newsletter 1

  • SMSFOA’s Pre-Budget Submission – we point out that the Government still has a spending problem, not a revenue problem. It should not eye super funds as a way to raise revenue.
  • The Murray Report – we say keep dividend imputation
  • The Taxation White Paper is looming as our next challenge
  • We beg to differ with a judge who claims super is a tax rort for the ri


141201 SMSFOA_Members_newsletter_11