News : Regulation

Regulation, Superannuation

Separation doesn’t mean SMSF exit

SMSF separation

Spousal separation by law does not have to result in the exit of one member from an existing SMSF, regardless of practical implications.

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Regulation

Compo scheme legislation introduced

compensation scheme legislation

Legislation to establish a compensation scheme of last resort has been introduced into parliament in line with a recommendation from the Hayne royal commission.

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Regulation, Superannuation

Budget measures bill enters parliament

budget work test downsizer

Legislation to put in place a range of superannuation and pension changes announced in this year’s budget has been introduced into parliament.

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FASEA, Regulation

Bill creating disciplinary body passes

Better Advice Bill

Legislation that will formally end the work of FASEA and create a government-run disciplinary body has passed through parliament.

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Regulation, Retirement

Carve-out a missed opportunity

retirement income carve-out

A chance to address retirement issues extending beyond investment themes may have been missed by excluding SMSFs from the retirement income covenant.

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Regulation

SMSFA joins effort to expand compo scheme

compensation scheme

The SMSF Association has joined a coalition of industry and consumer groups to push for a wider compensation scheme for consumers.

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Financial Planning, Regulation

Govt seeks Better Advice Bill industry input

Better Advice Bill

The draft Better Advice Bill has been opened to consultation from the financial services sector with regard to future adviser education requirements.

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Regulation, Retirement

SMSFs get retirement income covenant bypass

retirement income covenant

SMSFs will not be bound by the proposed legislation requiring superannuation fund trustees to formulate a retirement income strategy for members.

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Regulation, Superannuation

Choice rules can bypass stapled fund delays

choice stapled fund

SMSF members can use choice of fund rules to bypass delays that might prevent their fund being nominated under stapled fund rules starting in November.

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Financial Planning, Regulation

Government committed to red tape reduction

financial advice red tape

Reducing the amount of red tape hampering the provision of cost-effective financial advice will be a major focus of the quality of advice review.

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