NEWS

The ATO has reminded employers that the last time they can use the late payment offset (LPO) is for the quarter ending 31 March 2026. Currently, employers who make a late super guarantee (SG) payment can lodge a super guarantee charge (SGC) statement and use the LPO to reduce their SGC liability by amounts paid late to a fund. However, following the introduction of Payday Super this will no longer be available. The last time employers can use LPO is for the quarter ending 31

Switching between super funds has accelerated sharply over the past 12 months and many younger members with lower balances are moving into SMSFs, new research has found. The Super Members Council released data that indicates switching between super funds has risen by 17 per cent over the past year and it is now not older retirees with high balances moving money to coincide with changes in life circumstances but younger members that are dominating the statistics. The research

Commercial decisions should come first, and tax planning should support — not drive — investment strategy in preparation for the Division 296 tax, said a legal specialist. Phil Broderick, principal at Sladen Legal, told delegates at the SMSF Adviser national conference that Div 296 is now a tax on a member’s share of super fund taxable income (for balances over $3 million), mainly based on realised income. He said planning opportunities exist around timing asset sales, managi