In the May 2014 Federal Budget, the Government announced that it would allow individuals the option of withdrawing superannuation contributions in excess of the non-concessional contribution (NCC) cap, together with associated earnings. The associated earnings amount would be taxed at the individual’s marginal tax rate. The legislation to implement this measure has now been passed by the Federal Parliament. What does this new legislation mean?
This new legislation also requires supporting regulations which have yet to be finalised. We will continue to monitor the progress of these regulations and communicate relevant developments.
We are proud to announce that Cavendish has been named CoreData’s best SMSF Administrator in the adviser category.
We have made significant improvements recently to ensure we deliver on the promises we make to our advisers, brokers, accountants and their customers. This award shows we’re on the right track and we still focussed on doing even more.
The finalists and winners are decided using results from CoreData's SMSF Service Provider Study 2014. This study captures the feedback of SMSF Trustees together with Financial Planners and Accountants that advise on SMSFs. More than 1,200 responses are collated in the results and the research was conducted between 14th July and 24th August, 2014.
We would like to take this opportunity to thank all the advisers, as well as the trustee, private bankers and stockbrokers who have supported us and we look forward to continuing to support you with a quality administration service.
We are excited to announce that Cavendish has received a ‘highly commended’ recognition in the SMSF Administrator category at the 2014 SMSF Awards.
The SMSF Awards, an initiative of SMSF Adviser, create a benchmark for success in the rapidly growing self managed super fund (SMSF) sector. The awards serve as an important mechanism for Australian SMSF professionals and trustees to measure SMSF services and product providers.
Institutions across the country were assessed on a range of disciplines including product, service, support and satisfaction across 13 award categories.
According to SMSF Adviser, “These awards are based on experiences and insights from SMSF advisers, accountants and financial advisers. It’s an in-depth study, offering an insight into the organisations that are best servicing the needs of the SMSF sector as it continues its surge in growth.”
We are excited to receive this award and want to thank the financial advisers and trustees who continue to partner with us. We look forward to continuing to support you with a professional administration service that provides expertise and flexibility.
About the 2014 SMSF Awards
A robust process was employed to determine the award categories, nominees, survey methodology and winners.
SMSF Adviser surveyed their engaged audience of SMSF advisers and accountants in April 2014 to discover the top service providers in the Australian SMSF space. They received an outstanding response, with over 700 completing the survey.
The research methodology was designed, managed and assessed by Dr Florence Lau, the in-house research analyst.
Cavendish Superannuation was the Administration winner (SMSF member category) at the inaugural CoreData SMSF Service Provider awards held in Sydney on 13 September 2013.
The winner is decided on using a combination of service quality rating and preference of SMSF trustees.
The awards use results from CoreData’s SMSF Service Provider Study 2013, which captures the feedback of 1,400 respondents across six categories, separately judged from the perspective of SMSF members and SMSF advising financial planners.
The survey also found that Cavendish is the most popular SMSF administration service used by financial planners.
The Federal Government last night decided not to proceed with the proposed banning of off-market transfers of listed securities between a self managed super fund (SMSF) and a related party of the fund. This means that listed securities can continue to be transferred between SMSFs and related parties off-market. The Government had previously announced that off-market transfers of listed securities between SMSFs and related parties would be banned from 1 July 2013. The Government had also previously announced that from 1 July 2013, a qualified independent valuation would be required in situations where an SMSF was acquiring an unlisted asset from a related party, or selling an unlisted asset to a related party. Implications