News : ART

ART, ASIC, financial advice

UGC adviser banning order extended

A failed review sought by a former UGC adviser against a prohibition order has seen the ban applied to him extended from two to three years.

A failed review sought by a former UGC adviser against a prohibition order has seen the ban applied to him extended from two to three years.

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ART, ATO

ART backs ATO’s trustee disqualification

The ART has backed the ATO’s disqualification of a trustee over breaches of the sole purpose test, noting it was their duty to comply with the law.

The ART has backed the ATO’s disqualification of a trustee over breaches of the sole purpose test, noting it was their duty to comply with the law.

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ART, ATO, SMSF

Repayment can’t fix prohibited loan

The ART has ruled that repaying a prohibited loan to a member is insufficient grounds for the ATO to avoid or overturn disciplinary action.

The ART has ruled that repaying a prohibited loan to a member is insufficient grounds for the ATO to avoid or overturn disciplinary action.

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ART, ASIC, Compliance

UGC adviser ban reduced

An adviser banned for not meeting best interest requirements in regards to SMSF advice has had the length of the punishment halved.

An adviser banned for not meeting best interest requirements in regards to SMSF advice has had the length of the punishment halved.

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ART

ART rules trustees erred, but remits penalty

Two SMSF trustees will have to pay tax for early access to super from their fund, but have avoided further penalties following an ART ruling.

Two SMSF trustees will have to pay tax for early access to super from their fund, but have avoided further penalties following an ART ruling.

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ART, financial advice, Financial Planning, SMSF

SMSF adviser’s 10-year ban upheld

The Administrative Review Tribunal has upheld a decision to impose a 10 year ban on an adviser who spruiked SMSFs to buy into risky investments.

The Administrative Review Tribunal has upheld a decision to impose a 10 year ban on an adviser who spruiked SMSFs to buy into risky investments.

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ART, ATO, Pensions, Tax

ART ruling may clash with TR 2013/5

Administrative Review Tribunal, ART, TR 2013/5, superannuation pension, Tax Ruling 2013/5, Sladen, Phil Broderick, Philippa Briglia, QWYN and Commissioner of Taxation, superannuation income stream

The Administrative Review Tribunal has adopted a wide view on what may be considered a superannuation pension, potentially creating a conflict with Taxation Ruling 2013/5.

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ART, ASIC, ATO, Auditing, Regulation

Adviser and auditor banned

Financial Services and Credit Panel, FSCP, SMSF auditor, ASIC, Administrative Review Tribunal, ART, Glenn Paul Meilak, Terence Murphy

Two separate actions have led to an SMSF adviser and a qualified auditor being banned from practising for failing to maintain the standards expected of them.

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AAT, ART

New tribunal operation revealed

Administrative Appeals Tribunal AAT Administrative Review Tribunal

The Administrative Appeals Tribunal transition process to the Administrative Review Tribunal has now been unveiled to the industry.

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