News : Regulation

Temp incapacity has limited use

March 31, 2020

There is a catch to using the temporary incapacity provisions contained in the superannuation regulations to compensate for loss of income due to COVID-19, a technical expert has said.

read more

Regulation, Superannuation

COVID-19 knocks super reforms off track

March 26, 2020

Tharshini Ashokan

A newly revised parliamentary timetable will add further delays to superannuation reform measures announced in the 2019 federal budget.

read more

Regulation, Superannuation

SMSFA, FSC support govt coronavirus response

March 23, 2020

Tharshini Ashokan

The SMSF Association and Financial Services Council have welcomed the federal government’s latest economic support package.

read more

Regulation, Retirement

SMSFA supports draft work test amendment

March 10, 2020

Tharshini Ashokan

The SMSF Association has voiced its support for draft legislation giving individuals aged 65 and over greater ability to make super contributions.

read more

Regulation

Hawking ban to strengthen sector integrity

March 5, 2020

Darin Tyson-Chan

Draft legislation released by the federal government prohibiting the hawking of financial products has received SMSF Association endorsement.

read more

ASIC, Regulation

SMSF advice should mirror auditor framework

February 24, 2020

Darin Tyson-Chan

The licensing regime governing SMSF advice should be structured along the same lines as the approved SMSF specialist auditor register, a prominent adviser has said.

read more

Compliance, Regulation

Compo scheme should be broad

February 11, 2020

Tharshini Ashokan

All providers of financial services and products should be part of and contribute to an industry-wide consumer compensation scheme, the SMSF Association has recommended.

read more

Regulation

AFCA backs compensation scheme

February 5, 2020

Darin Tyson-Chan

The establishment of a compensation scheme of last resort to protect consumers who have fallen victim to the misconduct of financial services firms has received strong support from the Australian Financial Complaints Authority.

read more

Compliance, Regulation

System fine without active member test

February 4, 2020

Tharshini Ashokan

The active member test for overseas SMSF trustees would become irrelevant if the current approach to rollovers and personal contributions was improved, an SMSF expert says.

read more

Financial Planning, Regulation

Recommendations will alter fee arrangements

February 3, 2020

Jason Spits

The next round of Hayne royal commission recommendations to be implemented may alter the frequency with which advisers get approval for their fee arrangements.

read more