News

Property

Bushfires will affect SMSF property values

SMSF properties valuations

SMSF trustees with properties in fire-affected areas can expect their property valuations to be hit, an SMSF expert says.

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Auditing

Annual return audit requirements may not last

Part A qualifications

A specialist auditor has suggested the new reporting requirements on the SMSF annual return regarding Part A qualifications from auditors may not be permanent.

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Administration, Business News

New administration platform for trustees

SMSF administration function

A software application has been launched that allows SMSF trustees to perform the administration of their funds without professional assistance.

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ATO, Auditing

Audit standards need to lift

Top 100 SMSF auditors

A specialist practitioner has called for improved professional standards from the auditing community, given the results of the ATO’s review of the top 100 SMSF auditors to date.

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Superannuation

IPA notes end of SG anomaly

Super guarantee levy

A major accounting body has reminded all superannuation stakeholders that a loophole in the retirement savings system governing the super guarantee levy has been closed.

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Business News

SuperConcepts to help bushfire victims

SuperConcepts bushfires assistance

SuperConcepts announces free assistance for SMSF trustees suffering major financial or personal loss from bushfires.

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Financial Planning, Regulation

Licensing overhaul not needed

Licensing framework change

The current financial services licensing regime does not need to be changed to make allowances for accountants providing advice, the head of an industry body has said.

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Regulation, Superannuation

Work-test repeal would help gender imbalance

Superannuation work test

Removing the superannuation work test and introducing a spousal rollover measure would counteract the disparity in super balances between men and women, the SMSFA has said.

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Estate Planning, Succession Planning

Wider asset pool key to SMSF advisers’ future

estate planning SMSF advisers

SMSF advisers should expand their skills to include estate planning to engage with clients who will pass on trillions to family in the next 20 years.

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Education, FASEA

SMSF-specific education crucial

SMSF specific qualification

Advisers looking to provide SMSF advice should be required by FASEA to complete an SMSF-specific qualification, the SMSF Associations says.

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