FirstTech Podcast

Craig Day and Tim Sanderson discuss an interesting and complex adviser question 'My client has a defined benefit pension - how do I know if they will be subject to Division 296 tax?' Hosted on Acast. See acast.com/privacy for more information.

During the May Federal Budget, the Government announced that existing properties held as at 12 May 2026 will be exempt from the negative gearing changes commencing on 1 July 2027. This has promoted increased adviser queries on whether clients can boost interest deductions by increasing property debt. In this podcast, Craig Day and Linda Bruce address key frequently asked questions from advisers ab...

Craig Day, Tim Sanderson, Linda Bruce and Sina Heng discuss the latest technical news: Federal Budget tax reform bills have passed - discussion on significant developments including bans on SMSF LRBA for residential property and changes to small business concessions Release of Division 296 regulations which contain important technical detail 1 July 2026 changes - new rates and thresholds and Payda...

Tim Sanderson, Alex Denham and Richard Chen discuss an adviser question regarding unused carry forward concessional contribution amounts displaying on myGov and situations where amounts may not be displaying correctly. Hosted on Acast. See acast.com/privacy for more information.

Craig Day and Tim Sanderson answer many of the questions we have received from advisers regarding the proposed CGT, negative gearing and discretionary trust tax changes. The answers are based on both the Federal Budget papers as well as newly introduced legislation which includes the proposed amendments to implement the CGT and negative gearing changes. Hosted on Acast. See acast.com/privacy for m...

Craig Day, Tim Sanderson and Kim Guest discuss the latest technical news. Federal Budget - draft legislation released on CGT and negative gearing changes New legislation allowing victims of child abuse to access offenders super Recent announcement regarding the Support at Home program Reminder about Payday Super commencing 1 July Hosted on Acast. See acast.com/privacy for more information.

Craig Day and Kim Guest discuss this month's question of the month, which discusses how the Centrelink granny flat rules apply when a client wants to create multiple granny flat arrangements. Hosted on Acast. See acast.com/privacy for more information.

Clients who are considering retiring often have outstanding accrued periods of annual leave and/or long service leave. In many cases, clients have a choice between receiving outstanding leave as a lump sum upon terminating employment and taking any accrued leave prior to terminating employment. Craig Day and Richard Chen compare the superannuation, tax and social security differences between these...

Craig Day, Tim Sanderson, Linda Bruce and Kim Guest discuss the latest technical news: Upcoming Federal Budget Proposed $1,000 tax deduction for work related expenses Home based businesses and small business CGT concessions Upcoming changes to Total Super Balance and defined benefit pensions Minor change to who can be a trustee of a SMSF Announced changes to Support at Home fees Hosted on Acast. S...

From 1 July this year, the new Payday Super reforms come into effect which generally require employers to make SG contributions at the same time as they pay salary and wages. This change could have implications for advisers and their clients where it results in an increase in concessional contributions, as it could cause them to inadvertently exceed their concessional contribution cap in future ye...

As we approach the end of the financial year, it's a great time to review year-end super strategies and get ready for the new financial year. Hosted on Acast. See acast.com/privacy for more information.

Craig Day, Tim Sanderson, Linda Bruce and Richard Chen discuss the latest news: Upcoming Federal Budget Division 296 tax - latest developments Personal Services Income and trusts - ATO update Payday Super - contribution cap implications Hosted on Acast. See acast.com/privacy for more information.

Craig Day and Tim Sanderson discuss the recently introduced Division 296 tax bill which proposes to levy additional taxes on the superannuation earnings of members with total super balances in excess of $3m. While some aspects of the new Bill are similar to the original proposals, the proposed new rules also include some significant changes, which will have important implications for clients and t...

Craig Day, Tim Sanderson, Alex Denham and Kim Guest discuss the latest technical news: Indexation of the transfer balance cap from 1 July 2026 - things to watch out for Indexation of the contribution caps - potential strategy opportunities Brief discussion on Division 296 bill currently before Parliament Increase to Centrelink deeming rates on 20 March Recent report on Support at Home waiting time...

Craig Day and Kim Guest answer our question of the month, which discusses situations where a client receives an excess non-concessional contribution determination and are trying to figure out what went wrong. The answer may surprise you. Hosted on Acast. See acast.com/privacy for more information.

A client who has lived and worked outside Australia may have an overseas retirement scheme they wish to transfer to an Australian super fund or bank account. If the overseas retirement scheme qualifies as a foreign super fund, a lump sum transfer from the scheme can receive tax concessions under the Australian tax law. However many overseas pension schemes, such as the mainstream retirement plans...

Craig Day, Sina Heng and Kim Guest discuss the latest technical news: Will the general transfer balance cap increase on 1 July 2026? Where are the proposed changes to Division 296 tax up to? Proposed changes to LISTO ATO private ruling on whether an adult child qualifies as a tax financial dependent for super death benefit tax purposes Updates to the government's My Aged Care website Hosted on Aca...

On 13 October 2025, the Treasurer announced significant changes to the yet to be legislated Division 296 tax rules – which proposes to tax the earnings attributable to a person’s total super balance over $3m at higher rates. In this podcast we discuss the proposed changes, what they could potentially mean for impacted members and funds, and outstanding uncertainties where further clarity is needed...

Craig Day, Linda Bruce, Richard Chen, Alex Denham and Kim Guest discuss the latest technical news including changes announced to the proposed Division 296 tax, Payday Super, super releases under compassionate grounds, ATO directing SMSF trustees to undertake education and 1 November 2025 aged care changes. Hosted on Acast. See acast.com/privacy for more information.

Craig Day and Linda Bruce answer our question of the month, which discusses what happens where a member/trustee of an SMSF undertakes work on a fund asset that they technically need to charge for to avoid the fund incurring a non-arm’s length expense.  Hosted on Acast. See acast.com/privacy for more information.

Craig Day and Kim Guest answer our question of the month, which discusses a situation where a client has moved overseas and is considering selling their former main residence in Australia. Will they qualify for the main residence exemption? Hosted on Acast. See acast.com/privacy for more information.

Craig Day and Tim Sanderson discuss one of the most widely used superannuation strategies: the re-contribution strategy. Done right, this strategy has a number of benefits for many clients. However, get it wrong and it can create frustrating headaches that are hard to fix. Hosted on Acast. See acast.com/privacy for more information.

Craig Day and Kim Guest discuss the latest technical news including upcoming aged care reforms, ATO corporate plan for SMSFs, update on Division 296 and the deeming rate increase. Hosted on Acast. See acast.com/privacy for more information.

Craig Day, Alex Denham and Richard Chen answer our question of the month, which discusses a situation where a couple get together later in life and both own their own home. Who can make a downsizer contribution and in respect of which home? Hosted on Acast. See acast.com/privacy for more information.

When a client passes away an option for their spouse is to take their death benefit in the form of an income stream, such as an account based pension. However, these death benefit pensions have a number of rules and issues associated with them that can unexpectedly catch advisers out from time to time. Hosted on Acast. See acast.com/privacy for more information.