News : Superannuation

ASIC, Superannuation

Property developer sentenced for SMSF fraud

A former Queensland property developer has been sentenced to five years’ imprisonment for defrauding SMSF investors.

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Superannuation

Foreign transfers need clear reporting

SMSFs can receive funds from foreign pension schemes, but must ensure they report the transaction correctly at both ends, an SMSF administrator has advised.

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Strategy, Superannuation

Control is driver for fund set-ups

Control SMSF establishment

A new survey has confirmed control over retirement income investments is the chief reason for the establishment of SMSFs.

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Accounting, Financial Planning, Superannuation, Tax

Advice use could inject $600b into economy

advice economic boost

Widespread use of professional financial, superannuation, tax and accounting advice could provide billions in economic benefits to the nation, according to new research.

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Administration, Superannuation

SMSF study clears up cost misconceptions

SMSF cost research

The latest research into the running costs of SMSFs has cleared up the common misconception SMSFs are an expensive option compared to APRA-regulated funds, a technical expert says.

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ATO, Superannuation

Accounts deadline for ATO only

SMSF financial accounts ATO

A proposed deadline for the finalisation of SMSF accounts will only increase the penalties the ATO can apply and do nothing for SMSFs, industry bodies have claimed.

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Superannuation

Small SMSFs develop rapidly

low balances SMSFs

The latest industry research has shown SMSFs with low balances grow to levels allowing them to become cost-efficient very quickly.

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Superannuation

SMSFs are cost-competitive

SMSFs running costs

SMSFs with balances of $200,000 or more are as cost-effective as public offer funds, new research has shown.

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Superannuation

SG rise not needed with improved efficiency

Greater efficiencies in the retirement income system could allow people to have adequate retirement income without an increase in the superannuation guarantee, a retirement review has claimed.

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Retirement, Superannuation

Retirement objective a community decision

The greater community needs to set the objective for the retirement income system but must avoid vague outcomes that achieve little, the Retirement Income Review has recommended.

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