News : Superannuation

ATO, Retirement, Superannuation

ATO rectifies market-linked pension anomaly

The ATO has announced a common-sense solution to the unintended consequences of its treatment of situations where a market-linked pension has been commuted and subsequently restarted in relation to an individual’s transfer balance cap.

read more
Retirement, Strategy, Superannuation

SMSFs need bonds – why portfolio allocation should change as you age

Portfolio allocation needs change over time. Do you still need a big house for your children? Do you want to move to be closer to family? Has your spending declined or increased? Have your retirement goals changed?

read more
Superannuation

WAM fights banning of franking credit refunds

Fund manager Wilson Asset Management has started a petition enlisting the support of its clients and any other interested investors to rally against the Labor Party’s proposal to make certain Australians ineligible for imputation credit refunds. Speaking at the 2018 Australian Investors Association National Conference on the Gold Coast last week, Wilson Asset Management lead […]

read more
Superannuation

Trustees must plan for mental incapacity

SMSF trustees must take appropriate action to ensure a fund’s complying status if they lose mental capacity, a law firm has warned.

read more
Regulation, Superannuation

Lack of super objective hinders reform

The Financial Services Institute of Australasia (FINSIA) has called for the primary objective of superannuation to be legislated, arguing this oversight is holding the industry back from reform.

read more
Superannuation

Superannuation death benefits – consider the children

A relatively unpublicised aspect of the 2017 superannuation reform legislation is the potential limitation on paying death benefit income streams to children.

read more
Retirement, Superannuation

Super reforms cause ‘tectonic’ SMSF asset shift

The 2016 superannuation reforms have had a significant negative impact on SMSF pension assets and Labor’s proposal to reduce imputation credits for SMSFs would further punish self-funded retirees, according to Class.

read more
Retirement, Strategy, Superannuation

TBC may expose super benefits to unwanted parties

SMSF trustees who have had to roll back some of their fund assets from pension to accumulation phase to comply with the $1.6 million transfer balance cap may have inadvertently given access to a portion of their retirement savings benefits to unwanted parties upon death, according to a technical expert.

read more
Regulation, Superannuation

Assessment of super regulators may reveal gaps

The banking royal commission’s hearings on the superannuation sector will examine the role of primary regulators the Australian Securities and Investments Commission (ASIC) and Australian Prudential Regulation Authority (APRA), which could identify regulatory gaps, according to a financial services consulting firm.

read more
Superannuation

SMSFs would have advantage under ‘open super’

SMSFs stand to benefit from the open banking regime’s likely evolution into open super as the sector’s current systems and ongoing integrations for member data are already at a good level.

read more

Copyright © SMS Magazine 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital