61.4% of the world population has received at least one dose of a COVID-19 vaccine. 10.2 billion doses have been administered globally, and 18.22 million are now administered each day. Only 10% of people in low-income countries have received at least one dose.
While the draft regulations aimed at tackling the excess transfer balance issue are a welcome development, SMSF trustees will have to hope the ATO releases the excess notice determination quickly to avoid interest building up, according to Heffron.
2022 is set to be a bumpy year for investors, but sticking to an investment strategy and thinking long-term will help investors navigate the road ahead.
Investment forecasts, just like weather forecasts, should be used to help inform but not entirely drive decision-making.
The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet more COVID-19 restrictions.
The ATO will only recognise limited reasons offered by trustees as an acceptable excuse for not paying a death benefit within the standard timeframe.
The use of various entities to jointly qualify for the “sophisticated investor” status will need to navigate various legal hurdles, especially around control for structures such as SMSFs and trusts, according to a law firm.
The ATO will not take compliance action against funds that have not reported a TBA event after the commencement of a new pension in the interim.
