Increasing SMSF member cap from 4 to 6 remains Government policy

The Government remains committed to increasing the SMSF member cap from 4 to 6, despite it being almost two years since the change was announced. Jane Hume, the Assistant Minister for Superannuation, Financial Services and Financial Technology, used a speech to the SMSF Association Annual Conference to say that increasing the SMSF member cap remains… Continue reading Increasing SMSF member cap from 4 to 6 remains Government policy

Government drops proposed increase to SMSF member cap from 4 to 6

The Government has dropped its attempt to increase the maximum number of members an SMSF can have from four to six, at least temporarily. The Government has amended its own Bill – the Treasury Laws Amendment (2019 Measures No. 1) Bill 2019 – in the House of Representatives to remove the increase in the SMSF… Continue reading Government drops proposed increase to SMSF member cap from 4 to 6

Bill to increase SMSF member cap to 6 up for debate this week

The Government’s proposal to increase the maximum number of members an SMSF can have, from four to six, may pass the Parliament this week. Update: The Government will move to amend the Bill, stripping the SMSF member cap changes, in the House of Representatives. The Bill to increase the SMSF member cap is the only… Continue reading Bill to increase SMSF member cap to 6 up for debate this week

Labor opposed to increasing SMSF member cap from 4 to 6

Labor doesn’t support increasing the cap on the number of SMSF members from four to six. “The government has not provided an adequate or compelling policy rationale for increasing the membership limit of self managed superannuation funds from four to six,” says the report from the Labor Senators on the Committee inquiring into the Bill.… Continue reading Labor opposed to increasing SMSF member cap from 4 to 6

Increasing SMSF member cap could help funds use franking credits

The SMSF Association says the proposal to increase the SMSF member cap from four to six could allow SMSFs to use more franking credits under Labor’s change, and help fund enter into purchases of large assets. In last year’s Budget the Government announced a proposal to increase the maximum number of members from four to… Continue reading Increasing SMSF member cap could help funds use franking credits

Bill to increase SMSF member cap from 4 to 6 introduced to Parliament

A Bill has been introduced to Parliament which would raise the maximum number of members an SMSF can have from four to six. Under the Government’s proposed changes, if they pass, the maximum number of members of SMSFs and small APRA funds would be raised from four to six, from 1 July 2019. The Government… Continue reading Bill to increase SMSF member cap from 4 to 6 introduced to Parliament

SMSF maximum number of members to be increased from 4 to 6

The Government plans to increase the maximum number of members an SMSF can have from four to six, and extend SuperStream to SMSF rollovers. Minister for Revenue and Financial Services Kelly O’Dwyer, speaking at the inaugural SMSF expo, said the Government appreciates the role SMSFs play in increasing competition in the super sector and the… Continue reading SMSF maximum number of members to be increased from 4 to 6