News

Administration, SMSF

Procedural ease not most prudent

appointment removal SMSF trustees

Convenience cannot be the main factor determining the procedure individuals use when appointing or removing SMSF trustees.

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Administration, Platforms, SMSF

SuperMate pricing adjusted

SuperMate pricing

Users of SMSF administration platform SuperMate will now have the flexibility of a new pricing tier more appropriate to their requirements.

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ASIC, SMSF

Melbourne adviser cops permanent ban

adviser banned SMSFs

ASIC has banned a Melbourne-based financial adviser for misappropriating over $1.6 million in client superannuation savings rolled over to SMSFs.

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BDBNs, Trusts

Deed specificity key to certainty

SMSF trust deed

A trust deed needs to be very specific in its governing rules to ensure an SMSF is not subject to unwanted legal or regulatory conditions.

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Death benefits, Pensions

Reversionary pension boosts TBC planning

Reversionary pension and death benefit management

Converting a death benefit into a reversionary pension can reduce its impact on the TBA of a widowed spouse and create more time to manage how it will be used.

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ASIC, financial advice

Licensee breach reporting guide revised

AFS licensees

The regulatory guide governing the reporting of Australian financial services licensee and credit licensee breaches has been updated by ASIC.

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Property, Retirement

Equity release used to manage inflation

Home equity release

Older Australians are increasingly using home equity release schemes to refinance their mortgages and pay off debts due to rising living costs and interest rate increases.

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Investments, SMSF, Superannuation

SMSF performance very strong

SMSF investment returns

The latest sector research has confirmed SMSF investment returns were comparable to those of APRA funds for the 2020 and 2021 financial years.

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Residential Property, SMSF

Care needed with online valuations

Residential property valuations

A degree of caution should be exercised when using online services to determine the value of a residential property owned by an SMSF.

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ASIC, SMSF

Ex-adviser jailed for six years

SMSF fraud

A former Sunshine Coast financial adviser has been sentenced to six years’ jail for fraud after withdrawing funds from his SMSF clients’ accounts for personal use.

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