News

financial advice, Retirement

Advice funded by super supported

Retirement Financial advice Superannuation Funding Cost of advice Colonial First State Kelly Power

Australians strongly support the use of a financial adviser and believe retirement savings should be accessible to pay for it.

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Accounting

Clarity sought on aged-care reform bill

Aged care Reform Funding Draft legislation Association of Independent Retirees

A body representing self-funded retirees has called on the government to provide additional detail on the costing and funding contained in the draft Aged Care Bill 2023.

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Accounting, SMSF, Superannuation, Tax

Timeframe limits foreign transfers

Foreign superannuation fund Lump sum payment Timeframe SMSF Superannuation rules

The Australian superannuation rules make lump sums paid from overseas pension schemes attractive but perhaps unachievable.

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Contributions, Superannuation, Tax

Tax cuts offer super boost

stage three tax cuts superannuation balance concessional non-concessional contribution

Proposed tax cuts later this year will allow superannuants to boost their balances without adversely impacting their cash flow.

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Legislation, NALI/NALE, SMSFA

Proposed NALE measures inequitable

SMSF Association NALE non-arm's length expenditure Treasury

The SMSF Association has restated its view that the proposed NALE measures are unfair, but it is unlikely they will be changed.

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ASIC, financial advice

Adviser registration deadline extended

ASIC registration Deadline Extension Financial advisers

ASIC has given a final deadline extension deadline for adviser registration to avoid the end of the summer holiday period.

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Pensions, Retirement, Superannuation

Living costs hit retirement confidence

Retirement income covenant Retirement savings Superannuation Cost of living

Rising living expenses are causing a growing number of Australians to harbor less confidence in their quality of life as they approach retirement age.

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Auditing, Compliance, Investments, Regulation, Superannuation

Many ways to fix in-house assets

SMSF In-house assets 5 per cent limit Rectify

Trustees do not need to obey the letter of the law when looking to rectify a breach of the in-house asset rules from a practical perspective.

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Compliance, Death benefits, Superannuation, Tax

Non-cash payouts can be a great solution

ATO Death benefit member benefit Superannuation benefit Redemption of investments

A recent ATO private ruling regarding death benefits could have had a different outcome if an alternate redemption process had been used.

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financial advice, Legislation

Adviser class name may change

Financial advice QAR Quality of Advice Review Qualified advisers

Concerns from industry and consumers may force the government to change the naming of the new class of financial advisers as part of the QAR reforms.

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