News

Superannuation

Elder abuse risk higher now

elder abuse SMSF

The reliance on virtual meetings as a result of coronavirus lockdowns has led to elder abuse risk increasing among mature SMSF clients.

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ATO

ATO releases SMSF establishment guide

ATO SMSF

The ATO has released a detailed guide for individuals interested in establishing an SMSF, pointing out the importance of professional advice in the process.

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Estate Planning, Financial Planning

New advice body details member costs, benefits

SAPEPAA membership

The newest association to represent the interests of specialist advisers has formally launched, outlining its membership fees and service offering, including a business marketing and referral service for foundation members. The Succession, Asset Protection and Estate Planning Advisers Association (SAPEPAA) was launched online earlier today by the Association’s board chair Grant Abbott who said the […]

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Business News, ETFs

Crypto funds, education centre announced

ETF Securities 21Shares

A new education centre aimed at helping investors understand cryptocurrencies is part of a new partnership between ETF Securities and ETP provider 21Shares.

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Accounting

Accountants fail on client targets

accountants SMSF clients

Research into the sector has shown accounting firms are falling well short of the number of SMSF clients they would ideally like to be servicing.

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Contributions

No need to track early release recontributions

SMSF early release recontributions

SMSFs will not need to track or measure COVID-19 early release recontributions with that task being handled by the ATO.

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ATO

ATO raises alert over SMSF scams

ATO SMSFs scams

The ATO has warned individuals to remain vigilant following an increase in cold-calling scams focused around SMSFs.

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ASIC, Financial Planning

Limited advice guidance released

limited advice ASIC

Practitioners providing limited financial advice have been provided with an ASIC information sheet to assist with their compliance obligations.

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Superannuation

Multiple splitting order possible

SMSF spousal splitting

The use of a multiple splitting order in the event of a divorce between spousal SMSF members can be an avenue to a more equitable result.

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ATO

ATO to address practitioner non-compliance

ATO SMSF practitioners

The number of practitioners failing to meet their obligation as trustees to lodge the fund’s annual return on time is of concern to the ATO.

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