Articles by Tharshini Ashokan

Pensions

Grandfathered pension check crucial

Grandfathered pensions

Advisers should check if pensions are grandfathered when stopping and starting ABPs to avoid potentially devastating outcomes for some clients, an SMSF technical expert says.

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Pensions

ATO releases pension TBA debit guidelines

pension TBA debit

The ATO has released guidance intended to help funds navigate the new TBA debit calculation for commutations of market-linked pensions, which was passed as law in June.

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ASIC

Former Queensland adviser charged with fraud

SMSF adviser fraud

A former financial adviser has been charged with fraud, including the unauthorised withdrawal of over half a million dollars from SMSF clients’ bank accounts, following an ASIC investigation.

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Investments

Risk statements critical for some derivatives

SMSFs derivatives

SMSFs with derivatives that give rise to a charge over the fund’s assets have to fulfil the additional compliance requirement of having a derivatives risk statement in place, an SMSF legal expert says.

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Documentation

Intention key to temporary trustee absence

trustee absence

The intention behind a trustee’s decision to temporarily relocate is essential to qualifying for the two-year safe harbour exemption, an SMSF legal expert says.

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Pensions

2020 pension rules hurt retirees

excess pension payments

The ATO’s approach to how excess pension payments made before and after 24 March should be treated will disadvantage some retirees, an SMSF technical expert says.

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Financial Planning

Number of self-licensed advisers on the rise

self-licensed financial advisers

The number of financial planners and advisers has held steady and an increasing number of them are choosing to become self-licensed, a recent study has found.

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Auditing

SMSFs misled regarding 2018 audits

SMSF 2018 audits

The ATO has confirmed a large proportion of the funds connected to SAN misuse for the 2018 financial year did not receive an audit despite SMSF annual returns being lodged.

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ETFs

VanEck expands ETF range

VanEck ETF

VanEck will launch four ETFs in the coming weeks, following strong growth in the company’s assets under management over the past year.

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Superannuation

Initial contributions key to establishment

Initial SMSF contribution

Advisers should ensure initial contributions for new SMSFs satisfy the establishment test to prevent an ongoing obligation to prove the fund is compliant, a legal expert says.

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