Articles by Tia Thomas

Financial Planning

SMSFA welcomes FSC advice paper

SMSF Association FSC advice

The SMSF Association has welcomed the Financial Services Council’s recommendations to reduce the cost and complexity of financial advice.

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Pensions

Inflation may create DSFA traps

inflation DSFA

The impact of inflation on SMSF balances may push some members under the disregarded small fund assets provisions through no fault of their own.

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Financial Planning

Practice growth roadblock identified

scale financial advice

An advisory group white paper has pinpointed the critical element holding back financial planning practices from achieving meaningful growth.

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Business News, Documentation

Class adds DocuSign to product suite

Class Docusign

Class has launched its new digital signature feature in partnership with DocuSign to create a more rapid process for professionals and clients.

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Business News

Hub24 to acquire Class

HUB24 acquire Class

Hub24 will acquire all ordinary shares in Class in a multi-million-dollar share swap deal.

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Superannuation

Six-member funds trustee training ground

six-member funds

Six-member funds will be a useful tool to prepare adult children taking over a fund from a parent who has lost capacity.

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ATO

ATO provides PAYG instalment relief

ATO PAYG instalments

The ATO will not apply penalties or interest on varied PAYG instalments for COVID affected SMSFs provided they can prove they took reasonable care to estimate their end-of-year tax.

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ATO

SMSF rollovers delayed by manual requests

SMSF rollovers delayed

Rollovers into SMSFs using the ATO’s SMSF verification service are being delayed due to a large number of manual verification requests.

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Succession Planning, Superannuation

BDBNs not only option for death benefits

BDBN death benefits

While BDBNs are a popular way to allocate death benefits, they can be overturned, so other existing options should also be considered.

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Estate Planning

Death benefit conflict needs urgent management

death benefit conflict

SMSF trustees should, before they die, resolve any conflict of interest around death benefits that stem from naming a beneficiary as executor.

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