News

Death benefits, Pensions

Reversionary pension boosts TBC planning

Reversionary pension and death benefit management

Converting a death benefit into a reversionary pension can reduce its impact on the TBA of a widowed spouse and create more time to manage how it will be used.

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ASIC, financial advice

Licensee breach reporting guide revised

AFS licensees

The regulatory guide governing the reporting of Australian financial services licensee and credit licensee breaches has been updated by ASIC.

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Property, Retirement

Equity release used to manage inflation

Home equity release

Older Australians are increasingly using home equity release schemes to refinance their mortgages and pay off debts due to rising living costs and interest rate increases.

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Investments, SMSF, Superannuation

SMSF performance very strong

SMSF investment returns

The latest sector research has confirmed SMSF investment returns were comparable to those of APRA funds for the 2020 and 2021 financial years.

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Residential Property, SMSF

Care needed with online valuations

Residential property valuations

A degree of caution should be exercised when using online services to determine the value of a residential property owned by an SMSF.

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ASIC, SMSF

Ex-adviser jailed for six years

SMSF fraud

A former Sunshine Coast financial adviser has been sentenced to six years’ jail for fraud after withdrawing funds from his SMSF clients’ accounts for personal use.

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Retirement

Inflation a big concern for retirees

Inflation

For the first time in a decade, seniors across the country are as concerned about inflation as they are about fundamental issues such as health costs.

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Regulation, SMSF

Knowledge of SIS sections critical

SIS act

Knowing the specific differences between parts of the SIS Act that may seem the same is critical to allow advisers to find optimal client solutions.

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NALI/NALE, Regulation, Tax

New NALE rules not needed

NALE

The IFPA has suggested the treatment of NALE within SMSFs and small APRA funds can be achieved by using existing rulings and legislation.

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Superannuation, Tax

FAAA wants soft cap fine-tuned

Financial Advice Association Australia

The FAAA has called for changes to the threshold and calculation method of the newly proposed $3 million soft cap on superannuation.

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