Articles by Todd Wills

Auditing, Documentation, Regulation, SMSF

Auditors in court over poor records

SMSF auditors ATO ASIC Documentation Asset valuations

Auditors are increasingly ending up in court for not properly documenting their reasons for approving asset valuations in the funds they audit.

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ETFs, Investments

Global X adds hedged tech ETF

Global X ETF Exchange-traded fund Global X FANG+ (currency-hedged) ETF FANG

Global X has broadened its range of currency-hedged ETFs by introducing a fund aimed at providing exposure to some of the largest technology companies in the United States.

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ATO, Auditing, Compliance, SMSF

ATO auditor notices spark confusion

SMSF Self-managed superannuation SMSF auditors ATO Unchanged asset valuations

SMSF auditors are confused by the ATO’s compliance program targeting funds with unchanged asset valuations due to unclear guidance on which funds are at risk.

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ASIC, Regulation, SMSF, Superannuation

Senate inquiry slams ASIC over Dixon response

ASIC Senate Dixon Advisory Self-managed superannuation SMSF Senate inquiry

A Senate committee has criticised ASIC for its response to the Dixon Advisory case as part of an inquiry into the regulator’s handling of corporate misconduct.

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Legislation, NALI/NALE, SMSFA

NALE law missing key elements

Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2023 SMSF Association NALE Non-arm's-length expenditure

The recently passed law to clarify the NALE rules is an improvement over the previous regime, but several issues of concern remain unaddressed.

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Legislation, SMSF, SMSFA

Early election could delay Division 296 bill

SMSF Association Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) bill SMSF Self-managed superannuation Division 296 tax

The proposed Division 296 tax may not pass through parliament until 2025 if an election is announced in August.

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ATO, SMSF, Tax

ATO releases Division 293 caution

Division 293 Self-managed superannuation ATO SMSF Release authority

SMSF trustees must follow ATO procedures before paying a Division 293 liability with monies from their superannuation funds or risk breaching their compliance obligations.

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ASIC, Education, financial advice

ASIC issues adviser qualifications warning

ASIC Financial Adviser Register Adviser qualifications compliance program

ASIC will check information submitted by Australian financial services licensees regarding their advisers’ qualifications following the discovery of reporting issues in a recent review.

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financial advice, Financial Planning

FAAA to launch advice academy

FAAA Financial Advice Association of Australia Adviser academy Financial advisers

The FAAA will launch an advice academy to assist high school students and career changers to make the jump into the financial advice sector.

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financial advice, SMSF

More entrants can curb unadvised SMSFs

SMSF Self-managed super fund Financial Advice Association Australia FAAA Vanguard/Investment Trends SMSF Report financial advisers

SMSF trustees establishing funds without professional financial advice will continue as long as there is a shortage of practitioners in the field.

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