The SMSF Owners’ Alliance, Self-managed Independent Superannuation Funds Association, Australian Shareholders’ Association and Australian Investors Association have written a joint letter to the federal government to highlight what they consider to be five major flaws in the proposed changes to super and request a post-election independent review of the calculations involved in the changes.

The ATO’s early engagement and voluntary disclosure service will now accept notifications from SMSF trustees and practitioners of unrectified regulatory contraventions. The service was made available for use on 31 May and will act as a centralised portal for SMSFs to notify the ATO of unrectified regulatory contraventions, and to facilitate early engagement and rectification. […]

The SMSF Owners’ Alliance (SMSFOA) has commended Treasurer Scott Morrison’s decision to amend the federal government’s policy on the backdated $500,000 lifetime non-concessional contributions (NCC) cap, following concerns about the measure’s impact on contracts that were entered into prior to budget night.

Royston Capital has added the expertise of Hong Kong-based manager Admiral Investment to its Australian real estate investment trust (REIT) and listed infrastructure portfolio.

The SMSF Association has appointed Craig Jameson as its corporate development general manager, with the professional body’s expansion into the trustee market an important aspect of his new job.

Adviser platform provider Hub24 is specifically targeting SMSFs for its international managed portfolio offering as a way to address the asset imbalance in their portfolios.

GPS Wealth has significantly enhanced its authorised representative base over the past year, with 60 accounting practices signing on with the independent licensee prior to the 30 June 2016 scrapping of the accountants’ exemption.

The Australian Securities and Investments Commission (ASIC) has sent a final warning to 185 approved SMSF auditors that their registration will be cancelled if their outstanding annual statements are not lodged with fees paid by 22 July.

What is super for? It seems strange to be addressing this question a quarter of a century after our current superannuation system was introduced. But, as David Murray pointed out in his Financial System Inquiry (FSI) report, nowhere is the purpose of superannuation written down in legislation. It should be because there needs to be […]