Super guides
Our technical reference guides provide you with a comprehensive summary of the superannuation rules and issues that you need to be aware of when advising clients.
Award winning technical support
Helping you cut through the complexity of Australia’s super and retirement system
Rated #1 for Technical Support 11 years in a row by Wealth Insights*
Key topic areas
Common tasks
Common tasks
Common tasks
Common tasks
Common tasks
Common tasks
Latest news
Division 7A of the Income Tax Assessment Act 1936 can apply to loans, payments or other benefits when a shareholder or their associate accesses money from their private company. When not managed correctly, this can result in the transfer of funds out of private companies being treated as an unfranked dividend with larger than expected tax outcomes. To avoid these outcomes, payments and outstanding loans can be placed on a complying Division 7A loan.
In a series of articles and webinars titled “Decoding Division 7A”, the ATO aim to highlight the rules around complying Division 7A loans, the common mistakes that are made and how to avoid them. Articles issued so far are:
The articles link to the ATO’s detailed content on private company benefits – Division 7A dividends.
The ATO advises that they will continue to provide more information aimed at helping understand Division 7A and avoiding mistakes over the coming months. The next article will focus on the rules for minimum yearly repayments on complying loans.
The Minister for Aged Care has issued a media release regarding a delay in the commencement date of the new Aged Care Act which was proposed to commence on 1 July 2024.
In the media release, the Minister states ‘The Government is now considering the extensive and valuable feedback to refine and finalise the draft legislation before it is introduced to Parliament.
We will update the commencement date of the legislation following these updates and before the bill is introduced to the Parliament.’
While the new commencement date is yet to be announced, there is speculation it may be 1 July 2025.
The government has issued a commencement proclamation for changes to the First Home Super Saver (FHSS) scheme.
The changes to the FHSS scheme are aimed at improving access to the scheme and received royal assent on 20 Sept 2023, see Treasury Laws Amendment (2023 Measures No. 3) Act 2023, Schedule 4.
The commencement date of these reforms has now been confirmed as 15 Sept 2024.
For more information on the reforms, see the FirstTech article FHSS scheme flexibility Changes pass parliament, yet to commence
Latest articles
Super rollovers - plan ahead to avoid nasty surprises
A super rollover can reset the eligible service period in the receiving fund, which can impact the tax treatment of a lump sum disability benefit or death benefit payment.
SMSF exempt pension income - segregated vs unsegregated approach
SMSF's may have two options to calculate exempt current pension income – the segregated or unsegregated assets method.
Does splitting contributions for a previous financial year, impct your ability to claim a personal deductible contribution?
Latest webinars and podcasts
FirstTech podcasts
Earn CPD points by staying up-to-date, listening to our podcasts and taking the quiz.
Our experts are always here to help
"It is truly refreshing to receive such a high-quality response demonstrating professional and technical competency. I hold FirstTech in high regard."
Norman Howe
Stratxa Advisory
"FirstTech is an asset to CFS and a valuable resource to advisers"
Jesmond Azzopardi
Tribel Advisory
Know you’re partnering with the best
Wealth Insights 2023
FirstChoice Ranked #1 in Technical Support
Unleash in ways you never thought possible
Get in touch
For technical enquiries contact us
8:30am – 6pm AEST Monday to Friday.
*Wealth Insights Platform Service Level Reports - CFS First Tech team was rated #1 by Wealth Insights for Technical Support every year since 2013.
Adviser use only. Information on this webpage is provided by Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 and Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468. It may include general advice but does not consider anyone’s individual objectives, financial situation, needs or tax circumstances. You should read the relevant Product Disclosure Statements (PDSs), Investor Directed Portfolio Service Guides (IDPS Guides) and Financial Services Guides (FSGs) before making any recommendations to a client. The PDSs, IDPS Guides and FSGs can be obtained from www.cfs.com.au or by calling us on 13 18 36. Past performance or awards are no indication of future performance.