News : Regulation

Administration, ATO, Compliance, Regulation, SuperStream

Rollover timeframes work against trustees

SMSF Rollover Wind up SuperStream

SMSF trustees will continue to experience issues with rolling assets from a fund using SuperStream within the required timeframe due to unchanged limits in the system.

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Investments, Regulation

Sophisticated investor laws require a re-think

Sophisticated investor Retail shareholder Wilson Asset Management

The proposed amendment to the sophisticated investor rules provide an opportunity to review the relevant legislation and make it fairer.

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Insurance, Regulation, SMSF

Insurance consideration ineffective

Life insurance SMSF Liability Investment strategy

The number of SMSFs holding life insurance appears to not have increased significantly since the introduction of a requirement to consider these policies as part of a fund’s investment strategy.

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ASIC, financial advice, Regulation, Superannuation

ASIC to scrutinise super switching

Superannuation switching ASIC Referral arrangements Enforcement priority

Advice regarding the switching of superannuation membership from one fund to another is an area on which ASIC will be focused this year.

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ASIC, Crypto Assets, Investments, Regulation

ASIC takes action over crypto mining scheme

SMSF Blockchain mining Cryptocurrency assets Digital assets SMSF ASIC NGS Companies

ASIC has commenced legal action against three blockchain mining companies that encouraged individuals to transfer their entitlements into SMSFs and convert them into cryptocurrency.

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Legislation, Regulation, Superannuation

Coalition recognises nature of super

Angus Taylor Superannuation policy Government SMSF

The shadow treasurer has outlined the approach a future coalition government will use with regard to superannuation policy.

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ATO, Compliance, Property, Regulation

ATO hot on rental property expenses

Rental property Deductions ATO NALI

The ATO is currently focusing on deductible expenses associated with investment properties with regard to its compliance enforcement procedures.

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AFCA, financial advice, Regulation

CSLR now in operation

Compensation Scheme of Last Resort CSLR Misconduct Financial services industry

Commencing today consumers can use the Compensation Scheme of Last Resort for unpaid monies from AFCA determinations.

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Administration, Compliance, Regulation, SMSF

Court option open for disqualified trustees

Disqualified trustees Bankruptcy Wind-up SMSF Rollover APRA fund

While the super laws state disqualified SMSF trustees are unable to act on behalf of their fund, a recent court ruling has shown there are ways they can continue to make limited decisions for the benefit of the fund.

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Cryptocurrency, Investments, Regulation

Crypto growth needs firm regulation

Cryptocurrency Regulation Cryptocurrency exchanges Digital assets Caleb & Brown

Strong protections need to be in place to cope with the increasing demand for cryptocurrency investments coming from individual and SMSF investors.

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