Articles by Krystine Lumanta

ASIC, Auditing

ASIC disqualifies Victorian SMSF auditor

The Australian Securities and Investments Commission (ASIC) has disqualified Oscar Altavilla, of Victoria, from being an approved auditor of SMSFs for breaching independence and auditing standards, and otherwise not being a fit and proper person.

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Pensions, Regulation, Superannuation

Franking ban to inflame age pension reliance

A new survey of investors has found nearly half of respondents, 44 per cent, expect to be more reliant on the age pension if the Labor Party’s proposed policy to ban excess franking credit refunds becomes a reality.

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ASIC, ATO, Education

ASIC, ATO to lift current SMSF trustee education

The Australian Securities and Investments Commission (ASIC) is working with the ATO to help consumers better understand the advantages and disadvantages of setting up and running an SMSF.

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Superannuation

Business wants super overhaul: report

An investigative report has found more than one-third of Australian businesses believe the current superannuation system should be overhauled for the future generation of workers and more than half want the system adjusted to remain relevant.

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Compliance, Documentation

Recent court case a spur for EPOA review

SMSF advisers and trustees have been urged to take another look at their enduring power of attorney (EPOA) arrangements following a recent Queensland Supreme Court judgment.

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Investments

Diversification across defensive assets essential

Investor portfolios require a mix of defensive assets as each category has a role to play in today’s market, a boutique fund manager has said.

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Insurance, Tax

Death benefit rollover tax anomaly amended

The federal government has announced it will be amending a legislative irregularity currently enabling death benefits that include life insurance proceeds and are rolled over into an alternative superannuation fund to be taxed.

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Financial Planning, Tax

Number of tax advisers increases

The Tax Practitioners Board (TPB) has revealed the registered tax practitioner population and public searches for registered tax agents are on the rise.

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ASIC, Auditing

ASIC reports on SMSF auditor enforcements

The Australian Securities and Investments Commission (ASIC) has deregistered, suspended or imposed conditions on 101 SMSF auditors for audit quality and independence issues or on “fit and proper person” criteria since the auditor register began in 2013.

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Infrastructure, Investments

Unlisted infrastructure fund gains SMSF flows

The lower entry point for a diversified unlisted infrastructure offering has captured increased attention from SMSF investors, as many begin to diversify their portfolios into the asset class, Infrastructure Partners Investment Fund Management (IPIFM) has said.

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