Articles by Malavika Santhebennur

Financial Planning, Regulation

Hayne calls for end to grandfathered commissions

The banking royal commission’s final report has called for the scrapping of grandfathered commissions and for those relating to life/risk advice to be reduced to zero.

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Investments

Gold, silver top significant items held in SMSFs

Gold and silver are the most popular big-ticket SMSF assets.

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LRBA, Property, Regulation

SMSFA fights LRBA ban

The SMSF Association has argued against a ban on LRBAs, instead urging more consumer protection around the debt instrument.

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Appointments, Business News

Slattery joins AMP board

AMP has appointed ex-SMSF Association CEO Andrea Slattery to its board.

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Education

Inquiries heighten need for SMSF specialisation

Recent industry inquiries and reports have reinforced the importance of SMSF specialisation for advisers and place pressure on them to raise advice standards.

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Practice Management

Advisers embrace best interest duty

Most advisers are in favour of the best interest duty, saying it was needed to lift industry standards.

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Administration, Regulation

Time ticking on six-member SMSF proposal

Six-member SMSF strategies may need to be postponed given the government may be unable to legislate the proposal before the election.

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ATO, Superannuation

Potential confusion flagged with division 293 notices

The way information is presented on the redesigned ATO division 293 assessment notices has the potential to cause confusion for SMSFs employing a contributions reserve

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Strategy

Staying segregated may become a headache

SMSFs can maintain a small accumulation balance to avoid using the segregated method for ECPI and reduce the associated administrative complexities, a lawyer has suggested.

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Accounting, Regulation

Govt unlikely to bring back accountants’ exemption

The federal government is unlikely to be in the mood to reintroduce the accountants’ exemption given recent and ongoing inquiries.

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