News

Regulation, Residential Property, Superannuation

Parliament approves FHSSS changes

First home super saver scheme

Parliament has approved a bill introducing multiple changes to the First Home Super Saver Scheme.

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Aged Care, Superannuation

ASFA rejects aged-care ring-fencing

ASFA Aged care superannuation

The notion of ring-fencing a segment of an individual’s retirement savings to fund aged care has not been supported by ASFA.

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Accounting, Education, Tax

Accurium expands education arm

Accurium education tax Anthony Cullen Lee-Ann Hayes

Accurium has expanded its education offering, adding a tax trainer and former SuperConcepts staffer to support growth in its services to accountants.

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ATO, Auditing

ATO and auditors not aligned

ATO SMSF auditors practice

The practices of some SMSF practitioners do not seem to be aligning with the ATO’s expectation of how the annual audit should be performed.

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Appointments, Platforms

SuperConcepts appoints tech services head

SuperConcepts general manager technical services Craig Stone

SuperConcepts has named Craig Stone as the general manager of the technical services team following his arrival at the company in August.

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Compliance, Investments

Wholesale exemption may harm consumers

licensing exemptions foreign financial services providers wholesale investors

An exemption to allow foreign financial services providers to pitch products at wholesale investors should only apply once that group of people has been better defined.

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Business News, Investments, Platforms

OpenInvest partners with Victorian firm

OpenInvest hmh Advisory

OpenInvest has teamed up with accounting firm hmh Advisory to offer access to four diversified investment portfolios.

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ASIC

ASIC bans ex-van Eyk chief executive

ASIC ban Van Eyk Mark Thomas

ASIC has banned a former company director who was convicted of using his position dishonestly to gain an unfair advantage.

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Accounting, SMSFA

Keep SMSF parts of registry program

SMSF Association

The SMSF Association has called on the government to streamline registry functions related to SMSFs, which would have occurred under the now-cancelled Modernising Business Registers program.

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LRBA

Unreviewed LRBA can drag on whole fund

LRBA

SMSFs looking to service an LRBA with high interest rates may find the fund’s total income being used to service a loan that is expensive compared to other offerings.

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