News

Pensions, SMSF

Legacy pensions a missed opportunity

Legacy pensions

Having no reference to the issue of legacy pensions in the 2023 federal budget has been labelled as a missed opportunity given other super measures.

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NALI/NALE, Superannuation, Tax

Budget draws mixed reactions

Budget reactions

The industry has praised the federal budget in relation to measures to make super fairer, but has called for clarification on certain provisions.

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SMSF, Superannuation, Tax

Soft cap could mean loss of assets

$3 million superannuation tax

Scenarios illustrating the egregious nature of the proposed $3 million soft cap on the super balances of individuals are beginning to surface.

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Retirement, Superannuation

Indexation most pertinent for initial pension

indexation TBC

The timing of pension commencement in the context of TBC indexation will be most relevant for members establishing their initial income stream.

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Superannuation, Technology

SuperConcepts adds open banking service

SuperConcepts open banking

SuperConcepts has announced a partnership with SISS Data Services to provide open banking services to its clients.

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Education, Superannuation

Accurium to provide stockbroker super training

Accurium SIAA training

The Stockbrokers and Investment Advisers Association has joined with Accurium to provide super-related training to its members.

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AFCA, Appointments

AFCA names new advice ombudsman

AFCA advice ombudsman

The Australian Financial Complaints Authority has appointed a former adviser and lawyer as lead ombudsman for investments and advice.

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ASIC, Compliance

ASIC targeting company compliance

SMSF corporate trustees compliance

Increased scrutiny is being applied to the compliance activities of SMSF corporate trustees by ASIC.

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ATO, Compliance

Trustees warned on excess NCC release

Excess non-concessional release

SMSF trustees have been advised that any excess non-concessional contributions must be released to the ATO and not fund members and not doing so is a compliance breach.

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Regulation, SMSF

Expert status will bring heavy penalties

SMSF practitioners regulators

SMSF practitioners have been presented with a case study of what they can expect from the regulators if they intentionally breach the law.

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