News

Documentation, financial advice

QAR does not remove need for advice documents

QAR advice documents

Financial advisers should be looking at what clients want from written advice if a recommendation to stop using statements of advice is adopted.

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Investments, Technology

OpenInvest offers Islamic investing solution

OpenInvest Islamic investment

A simple and more affordable investment avenue for Islamic Australians has been made available through OpenInvest’s latest partnership agreement.

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Superannuation

Higher tax rates for super

30 tax large superannuation balances

The government will introduce a 30 per cent concessional tax on superannuation balances above $3 million from the 2026 financial year.

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Superannuation, Tax

Super tax changes shift goalposts

superannuation tax rate

A government plan to introduce a higher tax rate for superannuation balances over $3 million adds to uncertainty around investing for retirement.

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financial advice

AFA/FPA merger to proceed

AFA FPA merger approved

The merger between the FPA and AFA will go ahead after the required number of members from both industry bodies voted in favour of the move.

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SMSFA

New CEO prioritises association members

SMSF Association chief executive

Supporting SMSF Association members will be the number one priority of the industry body’s incoming chief executive, Peter Burgess.

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financial advice

QAR not done to keep people happy

QAR affordable advice

The Quality of Advice Review was about delivering more affordable advice and improving the ease by which consumers can get access to it.

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Contributions

Work test excludes some workers

work test common-law employees

Changes to the work test currently prohibit politicians and company directors from making personal deductible contributions as the new rules do not consider them to be eligible employees.

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Insurance

Insurance cover can be zero if unemployed

temporary incapacity SMSF

A gap in employment can reduce an income protection payment to zero if the policy is held within an SMSF at time of claim, an insurance expert has warned.

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Superannuation

CEO leaves association in strong state

SMSF Association John Maroney

The SMSF Association is in a very healthy state and poised for a strong and prosperous future, according to outgoing chief executive John Maroney.

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