News

Superannuation, Technology

SuperMate integrates with Smarter SMSF

Supermate

A new integration agreement will now allow SuperMate users access to the full suite of fund documents offered by Smarter SMSF.

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financial advice, Platforms

Platform targets superannuation advice

Intelliflo advice platform

The Intelliflo advice platform has been specifically developed to aid practitioners in providing superannuation advice in the domestic market.

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Auditing, Education, SMSF

Auditors failing key requirements

SMSF auditors

Many SMSF auditors are being issued with ATO education directions for failing one of the most fundamental tasks required of them.

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Retirement, Superannuation

New super drawdown approach suggested

Retirement income

A new study has shown Australians could improve their retirement income by 10 per cent through a new approach to the drawdown phase of superannuation.

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SMSF, Superannuation, Tax

Clarifying the $3 million soft cap

$3 million superannuation cap

The proposed $3 million soft cap has caused significant angst in SMSF circles, but understanding the facts of the measure to date is important.

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ATO, Auditing

Poor valuation evidence a concern

SMSF valuation evidence

The ATO is alarmed by the number of situations where SMSF auditors are not substantiating asset valuations with proper supporting evidence.

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Auditing, Death benefits

Track death benefit payment delays

Death benefit delays

SMSF trustees should record any reasons that may prevent a death benefit being paid out to avoid auditor or ATO scrutiny around the delay.

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Superannuation

Super objective shouldn’t dictate operations

Superannuation objective

The objective of superannuation should be limited to policy issues rather than the operation of the system.

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LRBA

LRBA offsets can create breach

LRBA offset

LRBAs with offset accounts may breach super laws if they create a charge over the fund with caution advised regarding non-bank loans.

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Pensions

Pension tax strategies impact TBC

pension tax TBC

Pension commutation strategies used to minimise tax in the accumulation phase may limit the level of indexation that applies to a personal TBC.

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