News

NALI/NALE

Bookkeeping a transaction call element

The method by which a transaction is accounted for in the books of an SMSF can influence whether it is considered arm’s length.

The method by which a transaction is accounted for in the books of an SMSF can influence whether it is considered arm’s length.

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Appointments, Business News

FSC, AFCA make new appointments

Two industry bodies have announced the appointment of senior figures to steer their direction.

Two industry bodies have announced the appointment of senior figures to steer their direction.

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ETFs, Investments

Global X launches humanoid ETF

A new ETF has been released to the market providing investors greater access to the humanoids robotic sector.

A new ETF has been released to the market providing investors greater access to the humanoids robotic sector.

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Division 296, Superannuation, Tax

View Division 296 as two-stage event

The application of Division 296 will take place in two stages and operate under two sets of rules that will need to be explained to superannuants.

The application of Division 296 will take place in two stages and operate under two sets of rules that will need to be explained to superannuants.

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financial advice, Financial Planning, SMSF

Professional support goes beyond set-up

The assumption should not be made that people who establish an SMSF without financial advice will run their fund devoid of any professional support.

The assumption should not be made that people who establish an SMSF without financial advice will run their fund devoid of any professional support.

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Auditing, Education

Auditors Institute releases new course

The Auditors Institute will bring to market a new course for practitioners to develop their superannuation and compliance knowledge.

The Auditors Institute will bring to market a new course for practitioners to develop their superannuation and compliance knowledge.

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AML/CTF, financial advice, Financial Planning

FAAA seeks AML/CTF clarity

The Financial Advice Association Australia is asking for clarification on some of the AML/CTF requirements as they relate to financial advisers.

The Financial Advice Association Australia is asking for clarification on some of the AML/CTF requirements as they relate to financial advisers.

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Administration, Payday Super

Payday Super admin needs clarification

One aspect regarding the administration of SMSFs with reference to the new Payday Super regime requires more detail as to how it will operate.

One aspect regarding the administration of SMSFs with reference to the new Payday Super regime requires more detail as to how it will operate.

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Division 296, SMSF, Superannuation, Tax

Division 296 can catch exiting members

Members leaving an SMSF will not escape the reach of Division 296 if the fund passes the $3 million threshold in the same income year they depart.

Members leaving an SMSF will not escape the reach of Division 296 if the fund passes the $3 million threshold in the same income year they depart.

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ATO, Auditing, Documentation

Auditors prompted over evidence

Some SMSF auditors are still not providing adequate evidence in their reviews, prompting the ATO to issue a reminder to comply.

Some SMSF auditors are still not providing adequate evidence in their reviews, prompting the ATO to issue a reminder to comply.

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