Articles by Krystine Lumanta

ASIC, ATO, Auditing

SMSF auditors practice statement updated

The ATO’s Practice Statement Law Administration (PA LA) in relation to determining whether matters concerning approved SMSF auditors should be referred to the Australian Securities and Investments Commission (ASIC) must be carefully read by super trustees and advisers.

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Accounting, Compliance, Financial Planning

Accountants given added SMSF advice warning

An audit expert has said unlicensed accountants must take even greater care when providing execution-only services to their clients in the midst of the banking royal commission as it still may be taken as advice.

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Retirement, Superannuation

Super body slams Grattan retirement report

The superannuation industry peak body has called out the Grattan Institute for launching an unprecedented attack on the retirement savings of ordinary Australians.

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Investments, Residential Property

DomaCom launches branded mortgage sub-fund

Fractional property investment company DomaCom today announced an allocation to two mortgage investments by its first branded mortgage fund with DFS Portfolio Solutions (DFSPS), allowing advisers to gain exposures within their client portfolios.

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Cryptocurrency, Tax

Tax treatment of cryptocurrency evolving

The ATO is expected to continue to develop its position on the tax treatment of cryptocurrency as the digital currency gains greater interest from average investors, as well as SMSFs.

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Education, Financial Planning

Advisers given FASEA preparation reminder

Online adviser portal Wealthdigital has underscored the need for financial planners to be well prepared for further postgraduate study requirements under the Financial Adviser Standards and Ethics Authority (FASEA).

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ASIC, Regulation

Consistent advice must avoid checklist routine

The Australian Securities and Investments Commission (ASIC) has reaffirmed its position on how the financial advice industry should achieve consistent standards in light of the banking royal commission.

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Platforms

BT Panorama’s SMSF FUA increases

BT Financial Group (BTFG) today announced funds under administration (FUA) for its flagship Panorama platform were up 85 per cent to $12.4 billion for the 2018 financial year compared to 2016/17.

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Accounting, Auditing, Financial Planning

Joint efforts required for SMSF trustee errors

An audit expert has said in order to tackle and reduce SMSF trustee mistakes, accountants and financial advisers must work together when seeing clients.

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ATO, Superannuation

SMSFs outperform APRA funds: report

The latest Class “SMSF Benchmark Report” has refuted the Productivity Commission’s claims that Australian Prudential Regulation Authority (APRA)-regulated funds are outperforming SMSFs, following a like-for-like comparison.

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