Articles by Todd Wills

AFCA, financial advice, Regulation

CSLR now in operation

Compensation Scheme of Last Resort CSLR Misconduct Financial services industry

Commencing today consumers can use the Compensation Scheme of Last Resort for unpaid monies from AFCA determinations.

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Legislation, NALI/NALE

Senate approves NALE bill

Senate House of Representatives NALI NALE SMSF Association Parliament

The Senate has passed a bill to amend the rules regarding non-arm’s length expenditure without opposition, advancing it to the House of Representatives for a third reading.

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financial advice, Legislation, Superannuation

QAR measures tabled in parliament

Quality of Advice Review Treasury Laws Amendment Bill Stephen Jones Financial advice fees Superannuation Financial Services Council Financial Advice Association Australia

A bill to implement the first tranche of recommendations from the Quality of Advice Review has been introduced into parliament.

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Administration, Compliance, Regulation, SMSF

Court option open for disqualified trustees

Disqualified trustees Bankruptcy Wind-up SMSF Rollover APRA fund

While the super laws state disqualified SMSF trustees are unable to act on behalf of their fund, a recent court ruling has shown there are ways they can continue to make limited decisions for the benefit of the fund.

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ETFs, Investments

Vanguard drops bond ETF fee

Vanguard ETF Management fee Reduction Vanguard Australian Government Bond Index ETF

The yearly fee associated with one of Vanguard’s most popular ETF products has been cut by several basis points.

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Legislation, SMSFA, Tax

Unrealised gains tax a dangerous precedent

SMSF Association Unrealised capital gains Division 296 tax

Taxing unrealised capital gains as part of the Division 296 impost could set a risky precedent, potentially causing significant ripple effects throughout Australia’s tax system.

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Compliance, Death benefits, Regulation

ATO view clear on benefit payments

ATO SMSF Member benefit Death benefit Superannuation benefit Death

The ATO is taking a less discretionary approach to situations where a superannuation benefit is paid after the death of a member, but was requested before the event.

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financial advice, Legislation

CSLR levy cost will pass to consumers

Financial advisers Compensation Scheme of Last Resort Funding

The costs imposed upon advisers to fund the compensation scheme of last resort conflict with the government’s aim to make financial advice more affordable and will be borne by consumers.

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Aged Care, Retirement

Aged-care funding clarity needed

Aged care Aged care Taskforce Funding Retirees Association of Independent Retirees

A professional body representing self-funded retirees has requested more detail into the funding arrangements outlined in the final report prepared by the aged care taskforce.

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Documentation, Trusts

Review of deed chain essential

SMSF trust deed deed chain changes Cooper Grace Ward Nathan Rutherford

Checking the history of changes to an SMSF trust deed and ensuring they are valid is crucial to planning for the potential death of a fund member.

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