News : Legislation

Estate Planning, Legislation, Regulation

EPOA system needs national rules

Enduring power of attorney EPOA elder abuse Estate planning FAAA

The use of enduring powers of attorney needs to be standardised across the country to prevent elder abuse and ensure attorneys are fit and proper persons.

read more
Legislation, NALI/NALE

NALE rectification off the table

Treasury has indicated rectification for NALE breaches is inconsistent with anti-avoidance provisions, providing the reason why it is not part of the current bill before parliament.

read more
Legislation, NALI/NALE

Senate review approves NALE bill

Senate Economics Legislation Committee NALE NALI bill legislation

A seven member Senate committee has recommended new NALE provisions should pass parliament without any changes to the bill that will enact them.  

read more
Administration, Documentation, Legislation

Paper deeds provide legal certainty

SMSF trust deed electronic execution

Electronically signing a deed may expose it to litigation allowable under a state or territory outside of where the document was initially executed.

read more
AAT, Compliance, Legislation, Regulation

Past actions can bar trustee appointment

SMSF disqualified trustees Dishonest conduct SIS act

People who wish to become SMSF trustees must present a clean sheet of behaviour in regards to dishonest conduct as past actions can bar them from being appointed.

read more
financial advice, Legislation

Industry input crucial to more QAR changes

Stephen Jones Quality of Advice Review Safe harbour Statement of advice QAR

Several outstanding recommendations of the Quality of Advice Review will be legislated in 2024, contingent on further discussions with industry bodies.

read more
Accounting, Legislation, Regulation

Single financial reporting body to be formed

Australian Accounting Standards Board Auditing and Assurance Standards Board Financial Reporting Council amalgamated merger

The government will amalgamate three existing financial reporting bodies into one entity that will implement new climate and sustainability standards.

read more
Legislation, Superannuation

Super objective bill enters parliament

objective of superannuation bill Superannuation (Objective) Bill 2023

The bill to enshrine the objective of superannuation has entered parliament, with the central wording unchanged since first proposed earlier this year.

read more
Legislation, SMSF, Superannuation

Govt has taken sides in super wars

NALE $3 million superannuation earnings tax Angus Taylor

The government’s legislative agenda has reignited the superannuation wars and clearly shows it has sided against the SMSF sector.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.