News : Superannuation

Regulation, Superannuation

Super details accessible for separated couples

superannuation separated couples

An amendment bill before parliament will allow separated couple to access their former partner’s super account details in an effort to alleviate financial hardship.

read more
Superannuation

Frequency of reporting still poor

SMSF data reporting

A significant majority of SMSF practitioners are still servicing their clients and providing only annual fund information to them.

read more
ATO, Superannuation

ATO tweaks Super Fund Lookup process

Super Fund Lookup ATO

A new procedure is now being applied to newly established SMSFs and how the ATO reflects their status on the Super Fund Lookup website.

read more
Investments, Superannuation

Better returns not a control priority

investment returns

The control SMSF trustees seek in running their own superannuation fund is not entirely about generating better returns than the public offer funds of which they were or are members.

read more
Documentation, Superannuation

Ownership of small gold holdings hard to prove

ownership gold

SMSFs may struggle to prove their ownership small quantities of precious metals and regardless of size need to store them according to super laws.

read more
Regulation, Superannuation

Rule combination a larger fund win

larger SMSFs

One of this year’s budget measures and recently passed legislation could lead to more trustees looking to add adult children to their SMSFs.

read more
Property, Superannuation

SMSF gearing on rise during COVID

SMSF gearing

The COVID-19 pandemic has seen more SMSFs use borrowings to acquire assets.

read more
Superannuation

Six-member fund sign-offs need review

six-member fund

All processes requiring approval by a proportion of SMSF trustees should be reviewed if new members are added to a fund under the new six-member legislation.

read more
Financial Planning, Superannuation

Westpac cops $10.5m best interests penalty

Westpac penalty

A five-year legal battle has ended with Westpac being penalised $10.5 million for providing unlicensed financial advice in relation to superannuation.

read more
Contributions, Superannuation

Compensation will count towards contributions

compensation contribution caps

Super fund members receiving compensation for poor advice will need to assess the circumstances of any payments to ensure they do not exceed their contribution caps.

read more

Copyright © SMS Magazine 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital