News

Division 296, Superannuation, Tax

Tax concession premise misconceived

The validity of a government assumption with regard to taxable income in the justification of the proposed Division 296 tax has been questioned.

The validity of a government assumption with regard to taxable income in the justification of the proposed Division 296 tax has been questioned.

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Death benefits

Death should not alter benefit payment

A legitimate request from a member for a benefit payment should be the key driver behind its payment and death should not alter its treatment.

A legitimate request from a member for a benefit payment should be the key driver behind its payment and death should not alter its treatment.

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ASIC

Mawhinney to appeal court decision

Mayfair 101 Group managing director James Mawhinney has vowed to fight the Federal Court's most recent restriction against him.

Mayfair 101 Group managing director James Mawhinney has vowed to fight the Federal Court’s most recent restriction against him.

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Auditing, Death benefits

Auditors can question slow benefit payments

SMSF auditors can still judge whether a trustee is lagging in the payment of death benefits even if official guidance does not mention timeframes.

SMSF auditors can still judge whether a trustee is lagging in the payment of death benefits even if official guidance does not mention timeframes.

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financial advice, Financial Planning

CSLR needs reform, not extra levy

An additional levy on advisers to fund the CSLR is a band-aid solution, when the compensation scheme needs to be urgently reformed.

An additional levy on advisers to fund the CSLR is a band-aid solution, when the compensation scheme needs to be urgently reformed.

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financial advice, Financial Planning, Regulation

New class of adviser an opportunity

The FAAA hopes draft legislation regarding the new class of adviser will be released soon so the industry body can work out the impact on the sector.

The FAAA hopes draft legislation regarding the new class of adviser will be released soon so the industry body can work out the impact on the sector.

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ATO, SMSF, SMSFA

Demographic sector shift continues

The SMSF sector has continued to expand, with ATO statistics showing the shift to younger member establishments continuing.

The SMSF sector has continued to expand, with ATO statistics showing the shift to younger member establishments continuing.

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Administration, Strategy

Trustee structure no lump sum barrier

An SMSF has the ability to pay lump sums to its members regardless of the trustee structure it is using, with guidance on this unchanged for decades.

An SMSF has the ability to pay lump sums to its members regardless of the trustee structure it is using, with guidance on this unchanged for decades.

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financial advice, Financial Planning

Younger Australians have advice demand

A recent analysis on the value of financial advice has confirmed there is an untapped market for practitioners among younger Australians.

A recent analysis on the value of financial advice has confirmed there is an untapped market for practitioners among younger Australians.

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