News

Business News

Best SMSF service providers for 2019 awarded

SMSF service providers awarded

The leading service providers to SMSF advisers have been named by selfmanagedsuper for the seventh consecutive year.

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ATO, Compliance

NALI personal capacity directive to come

NALI personal capacity

The treatment of services provided in a personal capacity to an SMSF in relation to the NALI rules require more clarity, according to a senior technical services executive.

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Property, Superannuation

Foreign purchaser duty may hit overseas-born trustees

foreign purchaser duty overseas-born trustees

SMSFs with New Zealand-born trustees may be considered as foreign trusts if the trustees don’t hold a residency visa at the appropriate time.

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ASIC

ASIC bans director of illegal SMSF promoter

ASIC early release Superfunded

ASIC has banned the director of Superfunded for eight years after he promoted the illegal early access of superannuation funds.

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Financial Planning, Superannuation

Large lump sum death benefits hard to swallow

lump sum death benefits

Large lump sum death benefits can place surviving SMSF members with higher balances in a vulnerable situation, a wealth management expert says.

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ATO, Investments, Superannuation

ATO requests SMSFs show detailed investment strategy

ATO SMSFs investment strategy

The ATO will ask some SMSFs to produce detailed investment strategies to justify why their investments are held in single assets.

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Retirement

Actuaries want broader retirement system perspective

Actuaries Institute retirement system

Calls have been made by the Actuaries Institute for the retirement system to incorporate a broader approach to consider the age pension, superannuation and aged care together.

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Appointments

SMSF Association to seek new patron

SMSF Association patron

The SMSF Association is looking for a new patron to replace Tim Costello, who is stepping down after two years in the role.

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ASIC

ASIC to track end of grandfathered remuneration

ASIC grandfathered remuneration

ASIC will investigate the industry’s progress as it moves to end grandfathered remuneration arrangements for financial advisers by the 2021 deadline.

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Education, FASEA

FASEA list of approved degrees not absolute

FASEA approved degrees

A relevant degree can earn practitioners education credits under the new FASEA regime, even if it is not on the official list of approved degrees to date, according to a technical expert.

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