Suggested Search

Popular
Quick Links
Short haired woman standing with arms crossed

Award winning technical support

Helping you cut through the complexity of Australia’s super and retirement system

FirstTech guides Search the FirstTech site

Rated #1 for Technical Support 12 years in a row by Wealth Insights*

Key topic areas

Latest news

In a joint press conference on 14 May 2025, the Treasurer appears to have recommitted to the proposed tax on earnings on balances over $3 million, outlined in Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023 which was prorogued when the Federal Election was called.

 

 

 

 

The ATO have consolidated their key audit guidance for SMSF auditors in one location on the ATO website titled Auditing an SMSF, encouraging SMSF auditors to “ Bookmark it. Save it. Use it.”

 

The page provides most of the guidance auditors need for understanding their audit obligations, including requirements for conducting the annual SMSF audit and includes topics such as:

  • Verifying audit values
  • Reporting contraventions
  • Dealing with rollover and downsizer contributions
  • SMSF windups

 

Whilst it is provided for SMSF auditors, it will prove useful for all SMSF advisers, professionals, and trustees to help them understand matters such as what their own compliance obligations are, matters that are required to be reported in the annual return and documentation their auditor is going to be seeking when conducting the annual audit. 

 

 
 

Businesses with an aggregated annual turnover of less than $10 million and using the simplified depreciation rules may be able to use the instant asset write-off to immediately deduct the business part of the cost of eligible assets. The ATO explains when the instant asset-write off can apply. 

See all Latest News

Latest articles

Impacts of volatile markets on super

Markets worldwide and in Australia experience volatility from time to time. Over the last couple of years, we have seen both negative and positive returns which has had several impacts on super accounts.  

In this article, we discuss the implications on total super balance and super tax components when super balances rise and fall due to market fluctuations.

 

 

 
Read more

Consequences of an SMSF failing to satisfy minimum pension standards

Where an SMSF paying an account based pension fails the pension standards such as by not paying the minimum, it can have significant consequences.

This 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.

 

Read more

Excess concessional contributions - release or keep in super?

Where a client exceeds their concessional contributions cap, the ATO will issue an excess concessional contributions determination, advising two options for dealing with the excess:

 

1)       Do nothing and leave the excess in the super fund

2)       Release up to 85% of the excess from the super fund

 

This article looks at the tax and super implications of each option and identifies which option may be more beneficial.
Read more

Latest webinars and podcasts

FirstTech webinars

FirstTech webinars

Get access to FirstTech webinars and learn the latest super updates.

Learn more
FirstTech podcasts

FirstTech podcasts

Earn CPD points by staying up-to-date, listening to our podcasts and taking the quiz.

Learn more

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 2024

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.

Contact us    Call 13 18 36

Find a Business Development Manager

Need more information or support? 

 

Platforms     Investments

Adviser login

Sign into our platforms.

 

CFS Edge   FirstNet    FirstWrap

 *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.