Articles by Malavika Santhebennur

Business News

Imputation credit reform inevitable

Imputation credits for individuals and super funds will cease being a refundable tax offset and will return to being a non-refundable tax offset regardless of whether the Labor Party wins the next federal election, according to a lawyer.

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Regulation

Govt introduces NALI provisions bill

The federal government today introduced a bill into Parliament in relation to non-arm’s-length income (NALI) rules to prevent SMSFs from inflating super earnings through non-arm’s-length dealings.

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Superannuation

Advisers must consider super proceeds trust

SMSF advisers may have overlooked superannuation proceeds trusts previously, but they now need to be mindful of the structure due to the super reforms that came into effect from 1 July 2017, according to an industry lawyer.

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ETFs

SMSFs ahead of advisers on ETF use

A runner sprints over the finish line ahead of his competitors.

SMSFs have led the way in recognising the effectiveness of using exchange-traded funds (ETF) to diversify their portfolios and have embraced them more actively than advisers, an ETF executive said today.

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ETFs

SMSF ETF use grows exponentially

The percentage of SMSFs using exchange-traded funds (ETF) has more than doubled over the past five years, while total assets invested in ETFs by SMSFs have quadrupled, according to a new Class report.

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Auditing

SMSF audit cost argument myopic: IPA

Arguments the federal budget measure to allow SMSFs to switch to a three-year audit cycle will reduce compliance costs are myopic, according to an accounting body.

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Business News

Allianz, PIMCO unveil retirement business

Fixed income manager PIMCO and insurance giant Allianz have launched a new business in Australia, Allianz Retire+ Powered by PIMCO, to deliver retirement income solutions.

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Accounting

Auditor crackdown reflects complex sector

Red and White Lines of barrier tape at a subway station.

The corporate regulator’s crackdown on SMSF auditor registrations may be occurring due to various factors largely based on complexities in the sector, according to an SMSF audit specialist.

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Compliance

ASIC consults on ethics compliance schemes

The Australian Securities and Investments Commission (ASIC) is consulting on code of ethics compliance schemes for financial advisers under the new education requirement legislative regime.

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Accounting

FOFA drove accountants away from SMSF set-up

The Financial Adviser Standards and Ethics Authority new education standards will not have a significant impact on accountants advising on the establishment of SMSFs as many have already stepped away from this task following the introduction of the Future of Financial Advice (FOFA) reforms, according to an accounting body.

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