News

financial advice

Former FPA, AFA leaders back merger

FPA AFA merger

Former chief executives and heads of the boards of the FPA and AFA have urged members to back the proposed merger of the two advice bodies.

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Auditing

Current lease a key audit document

current lease SMSF audit

SMSF trustees and auditors should be seeing a current lease arrangement each year where a related-party property holding is in the fund.

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Superannuation

Make quick changes for users’ benefit

super changes

Short-term changes to the superannuation system should aim to complete some unfinished initiatives, while driving end benefits to consumers.

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financial advice

JAWG outlines desired advice review response

JAWG advice review response

A collective of industry bodies has called on the government to ensure its response to the Quality of Advice Review includes some specific elements.

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Appointments

BDM returns to Class

Class Goldsmith

SMSF administration software service provider Class has appointed David Goldsmith to the position of business development manager.

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Death benefits

Prescribed period doubt present

death benefit prescribed period

There remains uncertainty among advisers as to whether a prescribed period must be observed when considering the treatment of super death benefits.

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ATO

ATO flags guidance updates

ATO superannuation guidance

The ATO is in the process of updating a number of its guidance materials covering a variety of SMSF and general superannuation issues.

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financial advice, Superannuation

Super complexity requires advice

superannuation complexity advice

The complex nature of superannuation means people need advice, but can’t easily access answers to simple questions.

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Retirement

Adopt retirement system objective

retirement system objective

The government should adopt an objective for the retirement system, including superannuation, and then review the tax payments operating within it.

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ASIC, Auditing

374 auditor registrations voided

SMSF auditors cancelled

A total of 374 SMSF auditors have had their registration with the Australian Securities and Investments Commission cancelled for compliance issues.

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