FirstTech Podcast

Craig Day, Sina Heng and Linda Bruce discuss the ins and outs of varying notices of intent to claim a super deduction.In this podcast they cover increasing and decreasing the amount claimed as a deduction, as well as timing issues that can cause things to go wrong.For more information: FirstTech Did You Know Can you increase the amount claimed in a notice of intent?

Craig Day and Tim Sanderson discuss the proposed Division 296 tax.FirstTech have received many questions regarding clients who have decided they want to withdraw funds from super to avoid the tax, but are unsure of the best time to make the withdrawal to reduce possible capital gains tax liabilities.For more information: FirstTech article The proposed Division 296 tax - how the new tax is likely to work

Craig Day, Tim Sanderson, Richard Chen and Kim Guest discuss the latest technical news including Transfer Balance Cap indexation displaying on myGov, deferral of aged care changes to 1 November, 20% reduction in student HELP debts, scams targeting Centrelink recipients and super members, and how to order FirstTech Guides for 2025/26.For more information, see Latest News on the FirstTech site.

Craig Day and Linda Bruce unpack the top 6 questions advisers commonly ask about the popular strategy of splitting concessional super contributions

Craig Day, Kim Guest and Peter Wheatland discuss the latest technical news including an update on the proposed Division 296 tax, guidance issued by the FAAA on the deductibility of financial advice fees, the Centrelink deeming rate freeze and 3 tips to make the end of financial year go smoothly.For more information see the FirstTech article 2024-25 end of financial year strategies

Craig Day is joined by SMSF Association CEO Peter Burgess to unpack the revived Division 296 super tax proposal.In this episode they clarify how the tax works, including the controversial inclusion of unrealised capital gains, and what advisers need to consider now.

Craig Day and Kim Guest discuss the process of updating investment balances with Centrelink, including account based pensions, super in accumulation phase, shares, managed funds and bank balances.Does a client need to update Centrelink or does Centrelink receive the updated values automatically?

Where an SMSF paying an account based pension fails the pension standards such as not paying the minimum annual payment, it can have significant consequences.The can include increased fund tax liabilities and the merger of a members different super interests. In addition, following recent ATO guidance it could also trigger a range of transfer balance cap issues and require trustees to navigate significant additional complexity.

In this special edition of Latest News, following the Federal Election we delve into the winning parties policy announcements that impact financial advice, including taxation and housing policy.