News

Investments

Zurich Investment Management acquired

Russell Investments will purchase Zurich Investment Management as it seeks to grow its Australian wealth management business.

Russell Investments will purchase Zurich Investment Management as it seeks to grow its Australian wealth management business.

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Accounting, Investments, SMSF

Licence not needed for generic template

Accountants who do not have an Australian financial services licence are still able to provide some investment strategy documentation.

Accountants who do not have an Australian financial services licence are still able to provide some investment strategy documentation.

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Division 296, SMSF, Tax

Div 296 advice may trigger tax avoidance

Advice provided to clients in relation to managing a Division 296 liability could be viewed as tax avoidance in some circumstances.

Advice provided to clients in relation to managing a Division 296 liability could be viewed as tax avoidance in some circumstances.

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Contributions, Superannuation

Missed SG exemption may not be problem

Failing to exempt an employer from SG contributions may not be critical for some superannuants if it does not alter their tax position.

Failing to exempt an employer from SG contributions may not be critical for some superannuants if it does not alter their tax position.

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Contributions

Payday Super checklist released

The ATO has released a checklist for employers to assist them in their efforts to prepare for the new Payday Super regime taking effect in July.

The ATO has released a checklist for employers to assist them in their efforts to prepare for the new Payday Super regime taking effect in July.

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LRBA, SMSF

AMP re-enters SMSF lending market

AMP Bank will once again provide a lending facility for people wanting to use gearing to purchase residential property for their SMSF.

AMP Bank will once again provide a lending facility for people wanting to use gearing to purchase residential property for their SMSF.

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Auditing, SMSF

Audit Peer Review Panel launched

The Auditors Institute has formed a panel of professionals with whom practitioners can engage to have a peer review undertaken for them.

The Auditors Institute has formed a panel of professionals with whom practitioners can engage to have a peer review undertaken for them.

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ATO, NALI/NALE

NALI guidance ramps up trustee obligations

The ATO’s revised guidance on NALI means trustees must be very certain they won’t breach the relevant provisions before acting.

The ATO’s revised guidance on NALI means trustees must be very certain they won’t breach the relevant provisions before acting.

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ART, ASIC, Compliance

UGC adviser ban reduced

An adviser banned for not meeting best interest requirements in regards to SMSF advice has had the length of the punishment halved.

An adviser banned for not meeting best interest requirements in regards to SMSF advice has had the length of the punishment halved.

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Division 296, Legislation, Tax

New tax should exempt deceased members

Plans to levy the Division 296 tax on deceased superannuants reflect the haste in which the impost has been created by the government.

Plans to levy the Division 296 tax on deceased superannuants reflect the haste in which the impost has been created by the government.

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