Articles by Darin Tyson-Chan

Financial Planning, Regulation

Government committed to red tape reduction

financial advice red tape

Reducing the amount of red tape hampering the provision of cost-effective financial advice will be a major focus of the quality of advice review.

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ATO

First return compliance alarming

SMSF annual return ATO

The failure of trustees to lodge their SMSF’s first annual return is continuing to be a problematic compliance area for the ATO.

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Investments

Carbon emissions milestone for La Trobe

La Trobe Financial carbon

Specialist fund manager La Trobe Financial has achieved an ESG milestone after undertaking an assessment of its own environmental impact.

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Accounting, Financial Planning

Legs and regs challenge worsens

regulation SMSF accountants

Legislation and regulations regarding the provision of financial advice are proving to be an increasing challenge for accountants servicing SMSFs.

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Financial Planning, Retirement

RI covenant raises advice issue

SMSFs retirement advice

The advice SMSFs will need for retirement income covenant compliance could be problematic given the unlicensed status of many sector advisers.

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Compliance

Trustees lagging on new duty

trustees financial interest duty

Trustees seem to have been slow in adopting measures to document how they are considering complying with the best financial interest duty.

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Auditing

Audit fee threshold rejected again

audit fees threshold

The proposal to introduce a hard limit on audit fees originating from one referral source has been opposed by the SMSF Association.

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Financial Planning

Reduction in planner numbers an opportunity

reduction financial advisers

A number of self-licensed practitioners are viewing the reduction in adviser numbers across the industry as a business growth opportunity.

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Superannuation

SuperStream omits cashless rollovers

SuperStream rollovers

Unlike cash superannuation rollovers, those involving in specie asset transfers do not have to be executed via the SuperStream system for SMSFs.

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NALI/NALE

Pro bono work can pass NALE rules

pro bono NALE rules

The provision of pro bono services to an SMSF is not automatically outlawed by the NALE rules as defined by the ATO in LCG 2012/2.

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