The ATO says it does not intend to extend PCG 2020/5 for another year and will wait to see what changes the government legislates.
Why markets are optimistic
Ignition Wealth says the final QAR report will help reshape advice and has pushed the government to implement the review’s recommendations in their entirety.
The mid-year point is an opportune time to take stock of your investment holdings – but reviewing your portfolio should really be an ongoing exercise.
Property investment by an SMSF will fail the sole purpose test if it provides pre-retirement benefit to someone such as personal use of a fund asset, warned the ATO director of the SMSF Auditors Segment.
The general transfer balance cap is set to increase to $1.9 million from 1 July based on CPI figures released today.