News

CPA Australia exits advice

July 20, 2018 Malavika Santhebennur

CPA Australia has announced it is exiting the business of CPA Australia Advice after a post implementation review by PwC Strategy found the business was no longer financially viable.

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Compliance, Regulation, Superannuation

SuperStream announcement a mixed bag

July 19, 2018 Darin Tyson-Chan

A superannuation industry technical expert has described the federal government’s proposal to include SMSFs within the SuperStream rollover system as a positive development, but has identified some of the other elements included in the initiative as potentially being problematic.

Family SMSF advice now an elite specialist field

July 19, 2018 Malavika Santhebennur

Family SMSF structures, which can be bloodline, blended or multigenerational, have become an elite specialisation and require an additional level of understanding from advisers, according to a sector expert.

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Compliance, Superannuation

SMSF SuperStream draft laws get strong backing

July 19, 2018 Krystine Lumanta

The SMSF Association has welcomed the draft regulations that extend the use of SuperStream to rollovers to and from SMSFs.

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Commercial Property, Direct Property

SMSFs flock to commercial property

July 19, 2018 Krystine Lumanta

SMSF trustees are showing a growing interest in commercial property, with two key factors driving the latest attraction, a specialist commercial property lender has revealed.

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ASIC

ASIC bans SMSF adviser, suspends AFSL

July 19, 2018 Malavika Santhebennur

The Australian Securities and Investments Commission (ASIC) has banned a Queensland SMSF financial adviser for four years and suspended his Australian financial services licence (AFSL) for failing to act in his clients’ best interests.

Global funds added to platforms

July 19, 2018 Krystine Lumanta

Specialist global equities fund manager Cooper Investors has increased its access to the retail market following the addition of its two long-only global funds to two more platforms.

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Administration, Retirement

The topsy-turvy world of ECPI

July 19, 2018 Meg Heffron

While the new rules for pension fund tax exemptions (exempt current pension income or ECPI) have now been in place for over 12 months, the first few 2017/18 income tax returns are now being prepared and lodged. As always, real client cases illustrate best that the new world is very different from the old.

FASEA under fire for not providing course notes

July 18, 2018 Malavika Santhebennur

Accounting services provider AccountantsIQ has admonished the Financial Adviser Standards and Ethics Authority (FASEA) over its intention not to provide preparation materials for the financial adviser examination, arguing this defies the purpose of the exam.

Accountants still regard advice as sales

July 18, 2018 Krystine Lumanta

Accountants looking to broaden their services into advice, particularly for SMSF clients, are still put off by the selling aspect of a financial adviser’s role, an industry licensing expert has revealed.

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