News : Compliance

Compliance, Pensions, Regulation, SMSF, Superannuation

Failed pensions need minimums paid

Pensions linked to the breach of the payment standards cannot be commuted and restarted before this contravention has been rectified.

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AFCA, Compliance

Noticeable rise in SMSF complaints

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, complaints, Australian Financial Complaints Authority, AFCA, conflicted advice, inappropriate use, client’s best interest, Compensation Scheme of Last Resort, United Global Capital, Shield Master Fund, First Guardian Master Fund, Brite Advisors

Cases involving SMSFs registered with the Australian Financial Complaints Authority jumped by 95 per cent in the 2025 financial year.

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Compliance, Contributions, SMSF, Strategy, Superannuation, Tax

Deductible recontributions scrutinised

Deductions claimed on withdrawals from super that are quickly recontributed will attract scrutiny from the ATO in regards to tax avoidance.

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Administration, Compliance, Division 296, Legislation, SMSF, Superannuation, Tax

Sector lag for Div 296 assessments

The ATO’s assessment of Division 296 liabilities for SMSF members will hinge on when tax returns are filed and may lead to delays.

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Compliance, Legislation, Pensions, Regulation, SMSF, Strategy, Superannuation

Pension commutation debt waiver secured

Legacy pensions unwound under the five-year amnesty introduced in December last year will not lead to adverse social security outcomes.

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Administration, Compliance, SMSF, SuperStream

Doubt cast on Div 296 start date

The lack of action by large super funds to prepare for the Division 296 impost makes it likely it will not be applied this financial year.

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Compliance, financial advice, Financial Planning, Regulation

SMSF member financial abuse more painful

SMSF members who are victims of financial abuse are likely to suffer additional distress as there is no complaint body for the sector.

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ASIC, Compliance, Regulation

Mayfair 101 director ruling reached

The Federal Court has ruled against Mayfair 101 Group director James Mawhinney in several allegations made by ASIC with regard to the organisation’s conduct.

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Administration, Compliance, Regulation, Valuations

Pre-audit meeting can smooth review

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, asset valuations, Vincents, Mailene Wheeler, unlisted trusts, unlisted companies, SMSF auditor, financial statements, pre-audit discussion

A pre-audit discussion with clients about hard-to-value assets can reduce the need for the auditor to question an SMSF’s financial statements.

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ASIC, Compliance, financial advice, Financial Planning

Advisers with Shield links banned

ASIC, banned, Matthew Simon Bradley, Isaac Jacob McQueen, Shield Master Trust, MWL Financial Services Pty Ltd, Keystone Group, Financial Services Group Australia, Graham Holmes

ASIC has banned two more practitioners who provided advice encouraging superannuants to invest in the Shield Master Trust.

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