Articles by Todd Wills

Pensions, Regulation, Strategy

TTR strategy holds up amid changes

Concessional contribution cap Stage three tax cuts Superannuation guarantee Transition-to-retirement pension TTR Colonial First State Tim Sanderson

The merits of implementing a transition-to-retirement income stream have not been dulled by recent changes to certain superannuation parameters.

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Administration, Legislation, Pensions

Defining reserves key to pension exit

Reserve Legacy pension Non-concessional contributions cap Concessional contribution cap Commutation

The definition of a reserve is likely to impact the extent to which it can be extinguished under the proposed legacy pension amnesty.

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ATO, Auditing

Platform asset audit guidance issued

Audit report Part A qualification ATO

The ATO has informed trustees that an audit qualification may be unavoidable where evidence to confirm asset ownership held by certain platforms is difficult to obtain.

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ASIC, Auditing, Compliance

SMSF auditors sanctioned over fee source

ASIC SMSF auditors Independence standards ATO Referral

ASIC has suspended the registrations of three SMSF auditors following an investigation that found significant breaches of the independence standards.

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Administration, Compliance, Pensions

TRIS strategy can mean access risk

Colonial First State Craig Day transition-to-retirement income stream illegal early release SMSF Self-managed superannuation TR 2013/5 ATO

Starting and stopping a transition-to-retirement income stream multiple times in one year may trigger compliance issues for an SMSF.

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ETFs, Investments

Passive managers still on top

Actively managed funds Index funds SPIVA Australia Scorecard

The first half of the year proved challenging for actively managed funds, with the majority falling short of benchmark performance goals.

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AFCA

AFCA can assess shut fund claims

Australian Financial Complaints Authority AFCA Alexandra Sidoti SMSF Self-managed superannuation Determination compensation

AFCA will consider compensation claims for SMSFs that have been wound up before a determination has been made, but would act for the fund and not individual trustees.

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ATO, Compliance

New funds monitored for illegal access

SMSF Self-managed superannuation ATO Super Fund Lookup SFLU Registration Establishment illegal access

The ATO is closely monitoring the registration details of new SMSFs to identify any fraudulent activity or attempts to illegally access superannuation entitlements.

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Appointments

IFPA CEO to depart

Institute of Financial Professionals Australia IFPA Pippa McKee resignation

The Institute of Financial Professionals Australia has announced the resignation of its chief executive after five years of service.

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