News

Superannuation

Super gender gap has shrunk in past decade

Gender gap

The superannuation gender gap continues to exist, but has shown significant improvement over the past 10 years.

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Education, financial advice, Regulation

Bill defining experience pathway released

Adviser experience pathway

Draft legislation has been introduced defining the experience pathway whereby advisers will be deemed to have met their education requirements.

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Auditing, Investments, SMSF, Strategy

Poor investment strategies qualified

Investment strategy

The employment of a generic SMSF investment strategy has provided sufficient grounds for a qualified audit report for a prominent practitioner.

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Superannuation, Tax

New super tax doesn’t promote fairness

Superannuation tax

IFPA has rejected claims the new tax on superannuation balances over $3 million will allow the system to achieve greater fairness and equity.

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SMSFA

SMSFA bolsters senior management team

SMSF Association

An industry veteran has been appointed to the position of head of membership and corporate development at the SMSF Association.

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Accounting, Administration, SMSF

Class improves its market presence

SMSF software provider

Class has recorded a jump in the number of clients using its suite of products for the 12-month period to the end of March 2023.

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Auditing, SMSF, Superannuation, Tax

Alternative soft cap method mooted

Net taxable investment earnings

The SMSF Auditors Association of Australia has suggested a different calculation process be used for the proposed tax on super balances over $3 million.

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BDBNs, Death benefits, Pensions

Child pension can trump BDBN

Binding death benefit nomination

The creation of a child pension may create better tax outcomes for the beneficiaries of an SMSF member compared to a BDBN after the death of that member.

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SMSF, Superannuation, Tax

New tax threshold needs review

$3 million threshold.

The consultation process regarding the proposed $3 million soft cap on the superannuation balances of individuals is overlooking a key element.

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ASIC, Auditing, SMSF

More SMSF auditors sanctioned

SMSF auditors

ASIC has taken enforcement action against 11 registered SMSF auditors, including the disqualification of seven practitioners.

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