News

financial advice, Legislation, SMSFA

SMSFA seeking clarity over adviser class

SMSFA Qualified advisers Quality of Advice Review Accountants

An industry body has called for further details regarding the implementation of the final recommendations of the Quality of Advice Review.

read more
ASIC, SMSF

Receivers appointed to SMSF investment firm

ASIC Federal Court Brite Advisors Receivership

The Federal Court has made orders to appoint corporate receivers to the Australian arm of UK pension specialist and SMSF investment firm Brite Advisors.

read more
Investments, Platforms

OpenInvest secures funding

OpenInvest Tayside Group Investment platform

OpenInvest has gained the financial support of a large family office, setting it up to continue attracting firms to its white-label investment platform solution.

read more
Pensions, Superannuation

Revisit reserves before new tax starts

SMSF reserves legacy pensions superannuation earnings tax

Reserve and legacy pension allocations inside SMSFs should be revisited before the new earnings tax applies as they may be counted as earnings and not contributions.

read more
Legislation, Superannuation

Industry super objective view clear

Objective of superannuation Treasury Consultation

Consultation on the proposed objective of superannuation showed significant support for what the measure should ultimately achieve.

read more
Downsizer, financial advice, Property, SMSF

Property, tax lead new year concerns

SMSF Business property Downsizer contributions tax Financial advice LRBA

The use of business property inside an SMSF and downsizing the family home will be key issues for advisers and clients next year due to cost-of-living pressures.

read more
financial advice, Financial Planning

Fee consent form sign-off unnecessary

FAAA advice fee consent form sign-off

The FAAA has called for an end to financial product providers verifying fee consent forms provided by an adviser who has already gained their client’s consent.

read more
Education, financial advice

Govt considers adviser exam changes

Financial adviser exam changes Treasury draft legislation

Treasury has introduced draft legislation to streamline the delivery of the financial adviser exam, making minor changes to the questions asked and the timing of when a candidate can sit it.

read more
Property

Vacant land can be BRP

SMSF business real property vacant land wholly and exclusively threshold

Advisers should note in some circumstances pieces of vacant land can be considered business real property and may be held in an SMSF for that purpose.

read more
Auditing, Compliance, SMSF

Beware of altered valuations

SMSF auditor asset valuation market value $3 million superannuation earnings tax

SMSF auditors should exercise some scepticism regarding asset valuations in 2024 as trustees may be attempting to escape the impacts of the $3 million soft cap tax.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.