News

financial advice, Investments, Regulation

Wholesale tests revision essential

wholesale investor test wholesale client test indexation accountant’s certificates SMSF Association Chartered Accountants Australia and New Zealand CPA Australia Institute of Public Accountants

Any increase to the wholesale investor tests must include indexation to keep them current, but accountants’ certificates should be removed as they are no longer fit for purpose.

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Legislation, Pensions, SMSF, Tax

Div 296 to worsen legacy pensions

Legacy pensions Division 296 tax Defined benefit pension SMSF Professionals Day 2024

The proposed Division 296 tax should have led to the inclusion of a measure in the 2024 federal budget allowing legacy pensions to be scrapped.

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financial advice, Financial Planning, SMSF

Online advice driving new set-ups

New SMSF trustees are shunning traditional sources of advice when setting up a new fund, choosing to rely on online information and word of mouth.

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ATO, SMSF

Middle-to-higher incomes boosting SMSF growth

ATO SMSF Fund Establishments Asset allocations SMSF quarterly fund statistics

The March quarter saw more men and women with higher incomes establishing SMSFs, potentially reversing a trend of lower-income investors setting up funds.

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ASIC, financial advice, Regulation

Advisers must self-declare experience status

Financial advisers ASIC Experienced provider pathway

Financial advisers must self-declare their status as an experienced provider to use that qualification pathway to continue providing advice from the start of next year.

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ETFs, Investments

Fidelity expands active ETF range

ETF Fidelity

Fidelity International is set to add four new active ETFs to its product suite focusing on growth areas in Australia and Asia.

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Compliance, Legislation, SMSF, Tax

Div 296 myths already present

Division 296 tax SMSF Myths

Myths regarding the operation of the proposed Division 296 tax are already evident and may cause unnecessary and flawed SMSF strategies.

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AAT, ATO, Compliance, Legislation, Regulation

Disqualification overturned despite breaches

AAT ATO Trustee disqualification SMSF Gordon Merchant

The AAT has overturned the disqualification as trustee of the founder of Billabong despite several breaches of superannuation laws.

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Retirement, SMSF

SMSF members confident in retirement

SMSF retirement savings Vanguard Investment Trends confidence

The level of confidence SMSF members have that their retirement savings will be sufficient to last their lifetime is three times higher than for those without a fund, new research has found.

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Documentation, Pensions, SMSF

Pension contracts can add legal assurance

Pension contract SMSF SIS Act

Using a pension contract to specify the rules for an income stream can offer greater legal certainty and administrative control to SMSF trustees.

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