Articles by Tia Thomas

Pensions

Pension changes can disadvantage recipients

account-based pension changes

Careless changes to an account-based pension could cause its recipient to fail the income test for the senior health card, according to an executive consultant.

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Regulation, Superannuation

Super details accessible for separated couples

superannuation separated couples

An amendment bill before parliament will allow separated couple to access their former partner’s super account details in an effort to alleviate financial hardship.

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Appointments

SMSFAAA appoints new board member

SMSF auditors association board

The SMSF Auditors Association has appointed an auditor technologist to its board of directors in an effort to improve the level of expertise on offer to its members.

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Financial Planning

SMSFA welcomes ASIC levy reduction

ASIC levy

The SMSF Association has welcomed the ASIC levy relief, saying it will give advisers much-needed certainty and breathing space.

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Financial Planning

Industry bodies welcome adviser levy reduction

adviser levy reduction

Major industry bodies have welcomed the government’s announcement of a temporary reduction in the ASIC adviser levy after concerns regarding unsustainable cost increases.

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ASIC

SMSF adviser breaches existing ban order

SMSF adviser banning order

A former SMSF adviser based in Queensland has faced court for allegedly breaching a seven-year ban related to a best interest duty failure.

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Contributions, Investments

Shares can be turned into contributions

shares SMSF contribution

SMSF members can turn shares into a contribution to their fund as part of an in-specie transfer, but need to be aware of tax and contribution cap issues.

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ATO, Auditing

ATO expands review to reduce SAN misuse

ATO SAN misuse

The ATO has announced its strategy to improve its detection of SAN misuse with mailout set to commence in early September and warns auditors of obligations.

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Retirement

Virus restrictions hit retiree living costs

retirees living costs

ASFA statistics have revealed the increased cost of living in the past year has put greater pressure on retirees.

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ATO, Superannuation

SuperStream rollover events clarified

SuperStream rollover events

The ATO has clarified the events under which SMSF trustees must make rollovers using the SuperStream service set to take effect from 1 October.

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