As we move ever so closer to the first due date with SMSFs for event-based reporting, the transfer balance account reporting (TBAR) framework within a practice has very quickly become the most topical issue for practitioners dealing with SMSFs. With the Australian Taxation Office (ATO) indicating additional reporting being required within the TBAR for pension members with accumulation accounts, it is the impact of the technical nuances with this reporting framework that may see some practitioners come unstuck. Whilst the ATO will take an educative approach in the early stages of rollout, the failure to effectively implement a system a process within a practice is likely to lead to inefficiencies, but also leakage of events to report in a timely manner.
In this week's podcast, Aaron discusses the recent commentary about reporting accumulation phase values as part of the TBAR, the requirements for reporting 2017-18 events and how practices intend on handling TBAR within their practice moving into the new quarterly / annual reporting framework from 1 July 2018.
Episode 44 - The great pension squeeze
Episode 43 - How the SMSF sector continues to evolve
Episode 42 - why real change is important in the SMSF sector
Episode 41 - Our tech stack
Episode 40 - Changes to 2018 SMSF Annual Return
Episode 39 - Future of SMSF - insights into the sector today
Episode 38 - Class Benchmark Report - March 2018
Episode 37 - opportunities with the downsizer contribution rules
Episode 35 - Superannuation and the Federal Budget 2018-19
Episode 34 - Labor's policy to remove imputation credit refunds
Episode 33 - Do pension SMSFs match their stereotype?
Episode 32 - My takeaways from the SMSF Association National Conference 2018
Episode 31 - Living your brand in a smarter way
Episode 30 - Why not all death benefit nominations are the same
Episode 29 - Documenting decisions in taking more than the minimum pension
Episode 28 - 8 things to focus on in 2018
Episode 27 - Impact of changes to partial commutations
Episode 26 - CGT Relief: Segregated method and adopting the proportionate approach
Episode 25 - Insights from the Class SMSF Benchmark Report - September 2017
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