News

AML/CTF, Compliance, Financial Advice

Promote AML/CTF compliance as value add

The introduction of AML/CTF compliance requirements can be promoted as added protection for clients and a sign of professionalism.

The introduction of AML/CTF compliance requirements can be promoted as added protection for clients and a sign of professionalism.

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Compliance, Contributions

Concessional cap breach can be beneficial

Deliberately exceeding the concessional cap can be of benefit, allowing members to employ the most optimal contributions strategy available to them.

Deliberately exceeding the concessional cap can be of benefit, allowing members to employ the most optimal contributions strategy available to them.

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LRBA, NALI/NALE

LRBA repayments need review

Repayments to a related-party LRBA should be routinely examined to ensure they don’t breach NALI provisions, particularly if cash flow is tight.

Repayments to a related-party LRBA should be routinely examined to ensure they don’t breach NALI provisions, particularly if cash flow is tight.

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SMSF, Trusts

Keep bare trust arrangements separate

Practical rather than legal considerations are the key reason to avoid using a single bare trustee for multiple trust structures.

Practical rather than legal considerations are the key reason to avoid using a single bare trustee for multiple trust structures.

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Retirement

Challenger launches retirement institute

Challenger has launched the Institute for Lifetime Income, which amalgamates its retirement and retirement income-related research into one place.

Challenger has launched the Institute for Lifetime Income, which amalgamates its retirement and retirement income-related research into one place.

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Division 296, Valuations

Sworn valuation provides best protection

Division 296 compliance standards can be better achieved if trustees obtain sworn valuations for fund assets as at 30 June 2027.

Division 296 compliance standards can be better achieved if trustees obtain sworn valuations for fund assets as at 30 June 2027.

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SMSF, Trusts

SMSF membership rules overlooked

SMSF trustees and auditors are being caught out by state-based rules on who can be part of a multi-member fund.

SMSF trustees and auditors are being caught out by state-based rules on who can be part of a multi-member fund.

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CSLR, Superannuation

Call for major CSLR overhaul

ASFA has recommended the CSLR be seriously redesigned if it is going to continue to repay the financial losses of Australians.

ASFA has recommended the CSLR be seriously redesigned if it is going to continue to repay the financial losses of Australians.

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Auditing, Business News

ASF Audits acquires three firms

ASF Audits has purchased three audit firms in two months, continuing its expansion plans after receiving a private equity injection last year.

ASF Audits has purchased three audit firms in two months, continuing its expansion plans after receiving a private equity injection last year.

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Division 296, Documentation, Superannuation, Tax

Div 296 reporting poses a dilemma

The obligations to report Division 296 earnings on the SMSF annual return are likely to present a quandary for trustees now and in the future.

The obligations to report Division 296 earnings on the SMSF annual return are likely to present a quandary for trustees now and in the future.

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