News : Regulation

Compliance, Regulation

SMSF specialist tips rise in fund establishments

limited recourse borrowing arrangements; LRBA; Grant Abbott

A rise in the number of SMSFs established and an increase in sector litigation are two outcomes a strategy expert has predicted for 2019. I Love SMSF founder Grant Abbott has forecast a rise in SMSF establishments on the back of a dip in market performance and the associated reduction in returns generated by industry […]

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Investments, Regulation, Superannuation

Revised PC SMSF threshold remains misleading

The SMSF industry has welcomed the Productivity Commission’s revised minimum viability threshold for SMSFs to $500,000, but one firm has warned it is still misleadingly high as a cost-effective measurement.

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Investments, Regulation

PC backs away from minimum balance position

The Productivity Commission has backed away from recommending a $1 million minimum member balance for SMSFs, but has recommended greater training for financial advisers and more disclosure around the creation of funds.

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Regulation, Retirement, Superannuation

Petition launched to fight franking credit changes

An online action group has joined the push against plans by the federal opposition to remove refundable dividend imputation credits for self-funded retirees, claiming the proposed move punishes people who have heeded calls to save for their own retirement.

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Education, Regulation

SMSFA calls for FASEA CPD obligations fine-tuning

The SMSF Association has identified certain Financial Adviser Standards and Ethics Authority (FASEA) requirements pertaining to continuing professional development (CPD) for advisers it feels need amending.

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ASIC, Education, Regulation

Industry bodies sign code monitoring agreement

Six major financial planning/advice sector professional bodies, including the SMSF Association, have signed a cooperation agreement to develop a code monitoring solution for their members.

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Investments, Regulation

High price we all pay for questionable practices

The royal commission into misconduct in banking and financial services is the judicial inquiry we had to have. Everyone agrees, even the coalition government that fought tooth and nail to prevent it. Today there isn’t a politician in the land who’s not lauding what the inquiry has unveiled.

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Regulation, Retirement, Superannuation

Market conditions prompt delay in retirement

A new Roy Morgan survey has found negative forces currently pervading the economy and investment markets are likely to result in more Australians holding off their decision to retire.

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Accounting, Auditing, LRBA, Regulation

Triennial audit cycle unlikely to proceed

The likelihood of legislation for the three-year audit cycle for some SMSFs passing through Parliament under the current federal government is low given the likelihood the next election will be held in May 2019, according to an SMSF expert.

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Regulation, Superannuation

Significant victories for SMSFA in 2018

The SMSF Association has reflected favourably upon its advocacy activity in 2018, nominating the changes to the work test exemption as it most significant achievement in this area.

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