News

Investments

SMSFs account for 20 pct of ETF investments

SMSFs ETF investments

SMSFs account for around 20 per cent of ETF investments, with that number growing as the ETF market heads toward 2 million investors.

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Superannuation

Super only for one purpose

superannuation retirement purpose

The government has declared its commitment to have the superannuation system provide for people’s comfortable retirement only.

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Auditing

Pay heed to auditor requests

SMSF auditor information

SMSF trustees should provide auditors with information they need to meet audit standards which demand high levels of compliance.

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Tax

CGT concessions a specialised field

CGT concessions advice

SMSF members using small business CGT concessions should seek specialist advice when doing so, regardless of the practitioner involved.

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ATO, Compliance

Voluntarily disclose unfixable problems

SMSF voluntary disclosure

SMSF trustees should not hide unfixable problems with their fund, but via voluntary disclosure inform the ATO before it finds the problem.

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Downsizer, Pensions

Downsizer may clash with asset test

downsizer asset test

A number of changes related to downsizer contributions and asset test exemptions may reduce pension entitlements if used incorrectly at the same time.

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ATO, SuperStream

ATO highlights corporate trustee benefits

ATO corporate trustee

The ATO has highlighted the difference between SMSF trust structures and emphasised a corporate trustee has key advantages over individual trustees.

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financial advice

Quick advice review assessment needed

FPA advice review

The FPA has called on the government to quickly assess the final report from the Quality of Advice Review submitted last Friday.

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ASIC

First court action under DDO rules

ASIC DDO

ASIC has commenced civil action in the Federal Court against Firstmac Limited, in what is the initial move of this sort against a financial product provider.

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Business News

Assetly buys SMSF admin business

Assetly SMSF administration Mclowd

Platform provider Assetly has expanded its service offering to now include SMSF administration, having recently acquired Mclowd.

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