News

NALI/NALE

Error in NALE consultation paper

The consultation paper issued recently regarding non-arm’s-length expenditure contains a fundamental flaw in one of the examples it provides.

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Superannuation, Tax

Reserves captured by earnings tax

reserves earnings tax

SMSFs with reserves will probably not be able to use them to pay the proposed higher earnings tax but have them allocated to members to assess the tax.

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Death benefits

EPOA can’t sidestep member benefit issue

EPOA member benefit

The use of an enduring power of attorney will not allow a member benefit to be paid after death and may not be in the best interests of the member.

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Investments

MIS regulatory framework to be appraised

MIS review

After being introduced over 20 years ago, the regulatory framework for managed investment schemes will be reviewed this year.

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Superannuation

New policy hints at super objective

superannuation policies

While the government’s proposed objective for superannuation is still under consultation, new policies provide some of the detail as to how it will meet that objective.

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Pensions

Pre-2015 pensions less critical

CSHC pensions

The new income test thresholds for the Commonwealth Seniors Health Card may dilute the value of maintaining a grandfathered account-based pension.

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Compliance, financial advice

CSLR bills tabled in parliament

Compensation scheme last resort

The compensation scheme of last resort is closer to being established with the bills facilitating its existence tabled in parliament today.

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financial advice, Technology

Global advice platform launches in Australia

financial advice software

An advice platform with more than 30,000 users worldwide has set up operations in Australia after honing its offering for use by local advisers.

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Superannuation

Trust in super already waning

confidence superannuation

Confidence in the retirement savings system has already been eroded by the proposal of a new super tax for member balances above $3 million.

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Death benefits, Documentation

Gaming benefits may be tax exploitation

death benefits tax

Using undated documents to prevent a member benefit being paid as a death benefit may breach rules about promoting a tax exploitation scheme.

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