NEWS

An SMSF is generally prohibited from acquiring property from its members, however there are some exceptions, a legal specialist said. Michael Hallinan, special counsel for SUPERCentral, said the most relevant of these exceptions is when the property being acquired is classed as business real property, or a property that is used mainly for business purposes. “Provided the asset is business real property and is acquired at market value, the SMSF can acquire either as a purchase

Late June-quarter contributions may be counted together with July–September 2026 payday super contributions, potentially pushing employees over their concessional contribution caps, a legal expert said. Bryce Figot, special counsel for DBA Lawyers, said from 1 July this year, “payday super” begins and will require employers to pay super within seven business days of each payday. However, he warned a key issue arises for the final quarter of the 2025–26 financial year in that

The ATO has outlined how it makes decisions on SMSF compliance issues in a reminder to trustees of the consequences of failing to ensure their fund remains within all regulations. The regulator emphasised that trustees can be personally fined for breaching some super laws which can often be thousands of dollars. In very serious cases, they can be disqualified from being a trustee, which means they can never be a trustee again. If the breach is serious enough, a fund can be ma