News

financial advice, Platforms, Technology

Hub24 to acquire myprosperity

HUB24

Hub24 will acquire myprosperity in a deal that will expand its suite of brands and offerings for financial services practitioners.

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Administration, Auditing, Investments, SMSF, Strategy

Brief investment strategy optimal

SMSF investment strategy

Overly detailed SMSF investment strategies written over multiple pages will not improve their chances of being compliant with the law.

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Superannuation, Tax

Allow members to reduce balance below $3m

superannuation balance reduce

The government should allow working super fund members with balances above $3 million to make tax-free withdrawals as part of its new super tax proposal.

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financial advice, Regulation

QAR recommendations need proper treatment

QAR recommendations

The objectives of the Quality of Advice Review may not be met if the government only acts upon the recommendations that are easy to implement.

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Superannuation

Govt to introduce payday super

Payday superannuation

The federal government will introduce a new measure that will require employers to pay superannuation contributions on payday from July 2026.

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Regulation, Superannuation, Tax

Ring-fence unrealised gains tax

Unrealised gains tax

The taxation of unrealised gains in superannuation should be ring-fenced to the proposed $3 million balance tax if the government presses ahead with its plans.

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Administration, SMSF

Procedural ease not most prudent

appointment removal SMSF trustees

Convenience cannot be the main factor determining the procedure individuals use when appointing or removing SMSF trustees.

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Administration, Platforms, SMSF

SuperMate pricing adjusted

SuperMate pricing

Users of SMSF administration platform SuperMate will now have the flexibility of a new pricing tier more appropriate to their requirements.

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ASIC, SMSF

Melbourne adviser cops permanent ban

adviser banned SMSFs

ASIC has banned a Melbourne-based financial adviser for misappropriating over $1.6 million in client superannuation savings rolled over to SMSFs.

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BDBNs, Trusts

Deed specificity key to certainty

SMSF trust deed

A trust deed needs to be very specific in its governing rules to ensure an SMSF is not subject to unwanted legal or regulatory conditions.

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