Last-minute legislative whirlwinds and their impacts on the SMSF sector

Following a whirlwind of legislative activity in the last few days of the parliamentary sitting calendar for the year, the Senate passed a number of bills via a guillotine motion. Although the controversial Division 296 tax was not among them after a last-minute reprieve, several other bills were passed that will ultimately affect the SMSF sector.

In this final episode of the SMSF Adviser Podcast for 2024, hosts Keith Ford and Aaron Dunn, CEO of Smarter SMSF, discuss the implications of these measures.

Listen as they discuss:

• The perseverance and success of the campaign by the SMSF Association regarding the Division 296 tax.
• The objective of super bill and how it may influence future policy decisions.
• The collapse of wealth management companies, particularly Dixon Advisory, and its impact on the Compensation Scheme of Last Resort.
• The ATO’s updated advice on long-running NALI regulations.