The federal government has released two out of three tranches of exposure draft legislation for superannuation reforms that were announced in the 2016 federal budget. In a joint statement, Treasurer Scott Morrison and Revenue and Financial Services Minister Kelly O’Dwyer said the reforms would make the super system fairer, more flexible and more sustainable, and […]

The County Court of Victoria has convicted and sentenced Barry Patrick to six years and three months imprisonment after he pleaded guilty to six charges following an investigation by ASIC. Patrick, 73, from Sunbury, Victoria, pleaded guilty to three charges of obtaining property by deception, two charges of obtaining a financial advantage by deception, and […]

Investment management firm Rushton Financial Services has unveiled a new fund that seeks to address the need for alternative opportunities due to elevated risk levels in the Australian share market.

The federal government has changed the proposed super legislation, replacing the $500,000 lifetime non-concessional contributions cap with a yearly limit of $100,000. Addressing a press conference on 15 September, Treasurer Scott Morrison said: “The measures are as follows to replace the lifetime non-concessional cap with an annual cap of $100,000 with a three-year bring-forward limited […]

Women were becoming increasingly confident in taking control of their superannuation, signalling it was time for the federal government to create a legislative and regulatory environment that further encouraged them to do so, according to the SMSF Association.

The federal government’s new non-concessional contribution (NCC) cap will result in fewer complications than the original retrospective lifetime measure from an SMSF administration standpoint, however, the legislation itself must avoid introducing any administrative difficulties.

Growing a substantial superannuation balance within an SMSF might not be the best decision going forward due to further uncertainty over future legislation, according to an SMSF expert.

Australia’s social investment community SelfWealth has officially launched the first flat-fee brokerage solution in the country, and has already experienced strong take-up and interest.