News : Accounting

Accounting

FASEA-driven adviser exodus not dramatic

The effect the new Financial Adviser Standards and Ethics Authority (FASEA) education requirements and other legislative changes to the financial services sector are having in reducing advisory numbers is less severe than perceived, according to a business consultant. However, before people can start to assess the impact of these factors they need to better understand […]

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Accounting, Financial Planning

IPA flags licence offering to help fill advice gap

The IPA is developing a licensing regime to help advisers make the shift into providing financial advice.

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Accounting, Superannuation

Value of services misaligned between accountants, clients

Accountants and their clients are likely to have different views on what services are useful and therefore worth paying for.

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Accounting, ATO, Documentation

Accountants should use peers for SMSF paperwork

Accountants should consider using their peers to produce financial statements for their own SMSFs to avoid raising flags with the ATO.

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Accounting, Compliance, Platforms

Advice firm offers licensees new compliance solution

A Victorian advice firm has teamed with a large-scale software developer to offer advice groups a new compliance system.

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Accounting, Education, Financial Planning, Regulation

Accountants to benefit from advice market shake-up

The widespread changes to financial planning should allow accountants to establish their broader advice credentials.

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Accounting, Administration, Tax

Advisers need solid ECPI knowledge

Financial advisers need to have a firm grasp on exempt current pension income and segregation rules as they are no longer just the accountant’s domain.

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Accounting

Corrective actions can head off ATO penalties

Advisers and accountants can help trustees avoid ATO penalties if they seek to take corrective action first and rectify problems that have occurred.

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Accounting, ATO, Auditing

ATO to release banned SMSF trustee register

SMSF; review; industry fund

The names of banned SMSF trustees will be made more accessible to advisers and the public via a new register from the ATO.

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Accounting, Administration, Pensions

Legacy pensions require further attention

SMSF administrators and actuarial experts say they still see legacy pensions, such as defined benefit pensions, in SMSFs.

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