News

Auditing, financial advice, SMSF

Final Caddick settlement just okay

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Melissa Caddick, class action, auditors, Institute of Financial Professionals Australia, IFPA, Natasha Panagis, SMSF audit

The final class action settlement for SMSF investors who fell victim to Melissa Caddick’s fraudulent actions has been seen as a passable outcome.

read more
Compliance, Documentation, Investments, SMSF

Strategy reviews require evidence

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, trustees, investment strategy, minute, BT, Bryan Ashenden, written resolution, SIS Regulations

While trustees may be used to documenting their fund’s investment strategy, any changes to it must also be formally recorded for compliance purposes.

read more
Compliance, Regulation, SMSF, Superannuation

Super gatekeeping needs reform

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, superannuation, platforms, ASIC, Joe Longo, Shield Master Fund, First Guardian Master Fund, regulations

The corporate regulator is worried bad actors, sometimes using SMSF structures, could undermine trust in Australia’s superannuation system.

read more
Property, Retirement

Reverse mortgages complex and confusing

retirees, reverse mortgage, features, Seniors First, Darren Moffatt, points of difference

Reverse mortgages vary across many key details, creating difficulties for retirees in selecting a provider and product.

read more
ECPI, Pensions, Regulation

Failed pension process not logical

The process to rectify a pension that has not made minimum payments is difficult and will require multiple steps to achieve.

read more
LRBA, SMSF, Strategy, Superannuation

Maintain LRBA single-asset treatment

Shares purchased under an LRBA should be treated as single asset regardless of what happens to them while they are held by an SMSF investor.

read more
Compliance, Death benefits, Strategy

Proper trustee discretion key in death

Trustee discretion must meet certain thresholds set by the courts for decisions made under this power with regard to death benefit distributions.

read more
Education, financial advice, Financial Planning

Program for industry entrants launched

A training initiative has been made available to fast track new entrants to the advice industry and assist practitioners in their early years.

read more
Death benefits, Documentation

Death benefits not reliant on probate

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, death benefit, deceased member, Accurium, Jason Hurst, trustees, probate

In the majority of circumstances, SMSF trustees do not need to wait for probate before they can pay death benefits from a super fund.

read more
Death benefits, Legislation

Time limits still apply to fund payments

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, ATO, death benefit, reasonable timeframe, Heffron, Lyn Formica, six-month rule, guidance, Sean Johnston, payment, sale of asset

The absence of a specific timeframe in ATO guidance to pay a death benefit does not mean trustees have unlimited time to do so.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.