News : Regulation

ATO, Compliance, Regulation

Penalties highlight member loan flaw

Smarter SMSF, education, Tim Miller, ATO, The Auditors Institute,

Advisers viewing financial assistance to members as a lesser issue than illegal access should examine the related penalties and cease recommending it.

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Contributions, Regulation, Superannuation

Industry calls for payday super delay

Payday Super, Treasury, submission

A consortium of financial services industry groups have asked Treasury to extend the start date of payday super by two years.

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financial advice, Financial Planning, Legislation, Regulation

Govt must start advice reform

The FAAA has called on the government to implement a number of key reforms to the advice sector following its return to office in the federal election over the weekend.

The FAAA has called on the government to implement a number of key reforms to the advice sector following its return to office in the federal election over the weekend.

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Regulation, Superannuation

Smaller funds bear larger regulatory burden

Reform of the regulatory cost levies charged to APRA-regulated super fund members is needed as those in medium and smaller retirement savings vehicles pay more than those in large ones each year.

Reform of the regulatory cost levies charged to APRA-regulated super fund members is needed as those in medium and smaller retirement savings vehicles pay more than those in large ones each year.

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Insurance, Regulation, SMSF, Superannuation

Birth date impacts bring-forward NCCs

Non-concessional contributions, Craig Day, Linda Bruce, Colonial First State, CFS,

The provisions allowing SMSF members to trigger the NCC bring-forward rules in a subsequent financial year are birth-date sensitive.

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ATO, Regulation, SMSF, Superannuation

Payday super tweak needed for SMSFs

Institute of Financial Professionals Australia, IFP, Natasha Panagis, ATO, payday superannuation payments, Treasury,

Consideration will need to be given to the status of SMSFs under any payday super regime to ensure employer contributions can go to a fund that is temporarily unable to receive them.

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ATO, NALI/NALE, Regulation, SMSF, Superannuation

No ATO guidance to define breaches

Illegal early access, ATO, SMSF Association National Conference 2025, Emma Rosenzweig, NALI, non-arms-length income,

The ATO has stipulated illegal early access of super benefits and SMSF loans to members do not warrant guidance as both are compliance breaches.

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Accounting, Regulation, SMSF, Superannuation

Opposition advice commitment welcomed

Compensation Scheme of Last Resort, CSLR, FAAA, Sara Abood, CAANZ, Chartered Accountants Australia and New Zealand, Labor,

Opposition plans to reduce the cost of the Compensation Scheme of Last Resort and rebuild the advice sector have been welcomed by advice bodies.

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Compliance, Regulation, SMSF, Superannuation

Court orders wind-up of rollover scheme

A managed investment scheme linked to superannuation rollover advice will be wound-up after the Federal Court ordered its closure.

A managed investment scheme linked to superannuation rollover advice will be wound up after the Federal Court ordered its closure.

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Regulation, SMSF

SMSFA urges cybersecurity alertness

The cyberattacks directed at several public offer funds should provide SMSF trustees with a reminder to employ best-technology security practices.

The cyberattacks directed at several public offer funds should provide SMSF trustees with a reminder to employ best-technology security practices.

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