News : Regulation

Regulation, Retirement, Superannuation

PM labels franking credit proposal as theft

review: superannuation; retirement

The Prime Minister has pushed back on Labor’s franking credit proposal, branding it as theft and an unfair tax grab.

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Education, Regulation

Industry body revamps specialist adviser program

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The SMSF Association has announced changes to its specialist adviser program to ensure it corresponds with FASEA guidelines.

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Regulation

Six-member SMSF bill may be passed pre-election

The federal government is likely feeling confident its six-member SMSF bill will pass through parliament, given it was introduced last week, an SMSF expert has suggested.

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Compliance, Investments, Regulation

Sharper record-keeping focus tipped

Advisers and accountants can expect increased scrutiny of the record-keeping for the advice they provide to SMSF clients over the next three years, a compliance expert has warned.

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Regulation, Superannuation

Trustees maintain rage over franking credit policy

The House of Representatives Standing Committee on Economics public hearings into Labor’s planned changes to franking credit refunds have continued to invoke anger from SMSF trustees and self-funded retirees.

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Administration, Auditing, Regulation

Time runs out on three-year audit reform

SuperConcepts has suggested the government has run out of time to pass the controversial three-year audit cycle reform.

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ASIC, Regulation

ASIC sets up new enforcement arm following RC

ASIC has created a separate enforcement division as part of its response to the recommendations of the banking royal commission.

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ASIC, Regulation

ASIC appeals best interest duty court decision

ASIC will return to the Federal Court to lodge an appeal regarding a test case around the provision of personal advice.

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Compliance, Regulation

Cautious approach needed for new regulatory body

The banking royal commission’s recommendation for a new regulatory body overseeing the activities of the Australian Securities and Investments Commission and Australian Prudential Regulation Authority has been cautiously endorsed by an accounting body.

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Financial Planning, Regulation

SuperConcepts flags RC impacts on SMSFs

SuperConcepts has outlined how six recommendations from the banking royal commission will affect SMSFs. 

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