Articles by Malavika Santhebennur

Financial Planning, Superannuation

Reports signal low risk of financial harm

The SMSF Association has acknowledged the significance of the corporate regulator’s recent SMSF reports, but noted most non-compliant client advice files did not indicate a risk of financial detriment.

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Business News, Financial Planning

Morrows merger to boost SMSF clients

Financial services firm Morrows has announced a strategic merger with MSI Ragg Weir, an accounting, wealth management, auditing and superannuation firm in Melbourne, to create a mid-tier firm, effective today.

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Regulation

ASIC report reveals holes in SMSF advice

The majority of financial advice on setting up an SMSF does not comply with relevant laws, indicating a need for significant improvement in SMSF advice, according to the corporate regulator.

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ATO

APV reporting vital part of TBAR: ATO

The tax office has underlined circumstances where it may be in SMSF members’ best interests to report their accumulation-phase value (APV) as part of their transfer balance account report (TBAR). In a recent podcast moderated by SMSF Association chief executive John Maroney, ATO deputy commissioner James O’Halloran said SMSFs can report their APVs on the […]

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Investments

Slow progress in closing super gender gap

New research shows the superannuation savings gap between men and women narrowed in the 2016 financial year, however, Australia’s largest super fund believes the gap is not closing fast enough.

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Regulation

Poor understanding of hybrid risk remains

A majority of SMSF investors who hold hybrid securities do not appreciate all of the risks associated with the investment, according to BetaShares.

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Accounting

Long road to repairing adviser reputation

A report naming the top 50 financial advisers for 2018 is a positive step in helping to rebuild the advice industry’s battered reputation, but the road to redemption will be long, according to an SMSF industry body.

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LICs

LIC discount effect softens long term

The level of discount or premium at which an investor purchases a listed investment company (LIC) may have a significant impact in the first year of investing, but this impact decreases in the long term, according to a new report.

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ATO

Unallocated contributions not a reserve

Piggy bank being held in a hand.

Concessional contributions made by SMSF trustees as part of a contribution reserving strategy will not be considered a true reserve by the ATO, according to DBA Lawyers.

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Business News

FASEA appoints new CEO

The Financial Adviser Standards and Ethics Authority (FASEA) has appointed former Australian Prudential Regulation Authority general manager Stephen Glenfield as its chief executive.

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