News : Administration

Administration, Compliance, Regulation, SMSF, Trusts

Lost deeds undermine trust functions

Lost trust deed

A lost trust deed can bring into question the ability of trustees to carry out their duties and cast doubts over the operations of the trust.

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Administration, Compliance, Regulation, SMSF

Deeds can force member exits

SMSF member exit deed

SMSF members can be forced out of a fund, but only in cases where deeds have been structured to include trigger events requiring their exit.

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Administration, financial advice, Platforms

Hub24 unveils new data feeds

Hub24

Platform provider Hub24 is set to expand the range of features available to its adviser clients, introducing new data feeds and capabilities to its platform.

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Administration, Technology

SuperConcepts cuts staff numbers

SuperConcepts staff

SuperConcepts has made changes to its staff numbers in an effort to reduce the cost base of the business under its new ownership and management team.

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Administration, Compliance, Regulation, SMSF

Ruling clarifies SMSF director-executor pay

SMSF director executor

A recent court ruling has clarified whether an SMSF is legally required to compensate a director when they are appointed as both a director and executor of an SMSF.

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Administration

AMP to sell SuperConcepts

AMP SuperConcepts

AMP has agreed to sell SuperConcepts to a private management group headed by a former CountPlus executive in a cash deal valued at $8 million.

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Administration, Compliance, SMSF

Rollover objections cannot be ignored

SMSF rollover objections

SMSF trustees cannot ignore a member’s objection to a rollover and should seek legal advice even if the trust deed allows for the transfer.

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Administration, ATO, SMSF

Don’t cancel ABN in wind-up process

SMSF wind-up ABN

SMSF practitioners and trustees should not cancel a fund’s ABN during a wind-up process as the wrong timing of this action will freeze the procedure.

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Administration, ATO, SMSF

Zero balance not needed in wind-up

SMSF zero balance

SMSFs do not have to reduce their balance sheet to zero during a fund wind-up and doing so may result in having to estimate a future tax payment.

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