News

Contributions

Reconsider recontribution strategies

recontribution strategies

SMSF trustees and advisers should carefully consider using recontribution strategies to minimise tax burdens as the approach may offer limited benefits.

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financial advice, Regulation

QAR accountants exclusion highlighted again

QAR accountants

The Quality of Advice Review recommendations and the government’s acceptance of them have overlooked the role accountants have in providing financial advice.

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Education, financial advice, SMSF

Peer experiences sought by trustees

SMSF trustees peers

The past experience of their peers is what SMSF trustees looking to seek financial advice in the next 12 months want to learn from practitioners.

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ATO, Compliance, Tax

New SMSFs targeted for non-lodgement

SMSFs annual returns

New SMSFs are failing to lodge annual returns and abide by their taxation obligations, drawing the attention of the ATO.

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Contributions

SG rise may fill contribution cap

SG contribution cap

The increase in the superannuation guarantee rate may fill the concessional contribution cap for high-income earners, restricting further contributions.

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Pensions

Pensions must not be backdated

pensions backdated

Advisers and trustees of SMSFs have been cautioned that retroactively applying a pension could lead to compliance issues with the ATO.

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Auditing, Business News, SMSF

ASF Audits buys Deloitte SMSF auditing unit

ASF Audits Deloitte

ASF Audits and Deloitte have reached an agreement for ASF to acquire Deloitte’s SMSF auditing arm.

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Compliance, financial advice, Regulation

Jones accepts majority of QAR proposals

QAR recommendations

The government will accept many of the recommendations of the Quality of Advice Review, but has reserved its position on how some of them will be enacted.

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financial advice

Govt praised for QAR stance

QAR response

The financial advice sector has welcomed the government’s announcement it would adopt Quality of Advice Review recommendations that cut red tape in the advice process.

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Investments, Platforms

New WA firm added to OpenInvest platform

OpenInvest

A new online investment solution will now be available on the OpenInvest platform, offering consumers access to four diversified portfolios.

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