Articles by Todd Wills

financial advice, Legislation, Retirement, SMSF

SMSF advice requirement unnecessary

SMSF Retirement Income Covenant Financial advice advisers

A recent proposal to extend the Retirement Income Covenant provisions to SMSFs is unlikely to adequately meet the current financial advice needs of trustees.

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LRBA, Property, Regulation, SMSF

Track funding for property repairs

Property repair Property improvement LRBA Limited recourse borrowing arrangement SIS Act

Trustees should be certain of the origin of the funds used to complete a repair or improvement to a property acquired under an LRBA to avoid breaching their fundamental obligations.

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AAT, ASIC, Auditing

Auditor disqualification upheld

SMSF auditor Disqualification ASIC Independence standards

An SMSF auditor has failed to have her disqualification for breaching independence standards overturned by the AAT.

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financial advice, Retirement, SMSF

SMSFs preferred by HNW clients

HNW high net worth SMSF superannuation retirement

SMSFs are still the optimal retirement savings vehicle for high net worth individuals, with choice, control and flexibility with complex estate planning strategies the key considerations.

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Retirement, Superannuation

Majority unaware of retirement options

Retirement income products 2023 Retirement Income Report

Most Australians lack an understanding of the pension products offered by their superannuation funds to boost their incomes in retirement.

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Accounting, Aged Care

AccountantsIQ launches aged-care service

Aged-care, AgedCareIQ, AccountsIQ

An accounting service provider has released an offering for accountants and their clients tailored specifically for the aged-care sector.

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Retirement, Superannuation

Living costs continue to strain retirees

Retirement Retirees ASFA Cost of living

Retirees are experiencing growing challenges in sustaining a comfortable lifestyle due to the rising costs of basic necessities.

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ATO, SMSF

Jump in number of new SMSFs

Established SMSFs SMSF asset allocation SMSF quarterly statistical report September 2023

The September quarter saw the highest number of net SMSFs registered with the ATO in five years, with wind-ups falling to historical lows.

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Tax

Franking credits bill becomes law

Legislation to restrict the use of franking credits by public listed companies has received royal assent after it passed both houses of parliament.

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Administration, Documentation, Legislation

Paper deeds provide legal certainty

SMSF trust deed electronic execution

Electronically signing a deed may expose it to litigation allowable under a state or territory outside of where the document was initially executed.

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