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.
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Rated #1 for Technical Support 13 years running by Wealth Insights¹ our FirstTech team brings award-winning expertise to every adviser conversation.
For more than 25 years, our team has offered expert guidance across a wide range of technical areas, from superannuation and contributions, to aged care and estate planning.
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Latest news
The Government registered a legislative instrument Social Security (Waiver of Debts – Legacy Product Conversions) Specification 2025 back in March, to provide social security debt relief for any debts that may arise due to people commuting legacy pensions under new rules that apply from 7 December 2024.
However, the legislative instrument did not commence until after the disallowance period was served which ended on 27 October 2025.
The legislative instrument is now effective from 28 October 2025, which allows the Department of Social Services (DSS) to waive debts from commuting a legacy income stream under the 5 year commutation window that applies to legacy pensions from 7 December 2024. Legacy income streams include lifetime, life expectancy and market linked income streams (TAPs) that are 50% or 100% asset test exempt for social security means testing.
It is FirstTech’s understanding that these debt-waiver provisions are intended to apply from the same time legacy pension commutations commenced on 7 December 2024. We are waiting on confirmation from Centrelink that debts that arose between 7 December 2024 and 27 October 2025 under these provisions will be waived.
The ATO has provided guidance to auditors when reviewing SMSFs that hold crypto assets. Auditors need to ensure the investment:
- Is permitted under the fund’s trust deed.
- Aligns with the investment strategy, with documented consideration of risks and retirement goals.
- Is owned by the fund, stored in a digital wallet in the fund’s name, separate from personal holdings.
- Is reported at market value in financial statements, supported by objective evidence (e.g., 30 June closing value from a reputable crypto exchange).
If the crypto is held by a custodian, such as an exchange, the auditor should obtain a Type 2 report if available and perform further substantive testing to confirm the holding statement is correct.
Due to the commencement of the new Aged Care Act on 1 November 2025, FirstTech have released a new Aged Care quick reference guide from 1 November 2025 to 31 December 2025 that includes the new rules.
This quick reference guide provides the following rates and thresholds:
- Post 1 Nov 2025 rules - people who first entered residential aged care on or after 1 November 2025
- Pre-1 Nov 2025 rules - people who first entered residential aged care before 1 November 2025
- Support at Home - replaced the Home Care Packages program from 1 November 2025
Latest articles
Significant changes announced to Division 296 tax proposal
On 13 October 2025, significant changes were announced to the yet to be legislated Division 296 tax rules – which propose to tax the earnings attributable to a person’s total super balance over $3m at higher rates.
This article discusses the changes announced to the original proposal, what they could potentially mean for impacted members and funds, and highlights the outstanding uncertainties where further clarity is needed.
Superannuation and terminal illness
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What to do when an LRBA is repaid
Once a limited recourse borrowing arrangement (LRBA) has been repaid, SMSF trustees must decide whether to transfer the legal title of the asset from the bare trust to the SMSF trustee, or continue holding the asset within the bare trust structure.
Advisers play a key role in helping trustees understand the implications of each option and make informed decisions.
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¹ 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.