News

AFCA, Compliance, Regulation

Declaration can be used as disclaimer

Disclaimer Trustee declaration statement AFCA Legal protection

Practitioners may reissue fund establishment documents to SMSF clients as a precautionary measure to protect against potential legal threats in the future.

read more
Appointments, Regulation

Government names CSLR chair

CSLR Compensation Scheme of Last Resort Jo-Anne Bloch

The federal government has appointed a former FPA chief executive as the chair of the Compensation Scheme of Last Resort board.

read more
Investments, Platforms

OpenInvest adds another Melbourne firm

OpenInvest Lanteri Partners

OpenInvest has continued to partner with advice firms in providing online investment solutions, assisting Lanteri Partners to deliver five portfolio options to clients.

read more
financial advice, Investments, SMSF

Role determines wholesale status

Wholesale client Retail client SMSF Financial advice

The wholesale client provisions are complex and advisers must determine the SMSF role an individual is acting in before using them.

read more
BDBNs, Death benefits, Estate Planning

Review fund deed when circumstances change

BDBN Seperation De facto Trust deed SMSF

It is crucial to review the trust deed of a fund in the breakdown of a spousal relationship to ensure estate planning strategies can continue to operate as intended.

read more
Legislation, Tax

Better Div 296 model is available

Division 296 Unrealised capital gains Earnings calculation Total superannuation balance

The government can implement an additional super earnings tax, but do so without taxing unrealised gains by adopting a simpler method of calculating earnings.

read more
Estate Planning, Superannuation

Intestacy rules may prevent will dispute

Superannuation Estate planning Will Intestacy State rules

Superannuants should have a will, but state-based intestacy rules may sometimes deliver the same intended outcomes and avoid any disputes.

read more
Legislation, Tax

Div 296 tax labelled a shocker

Division 296 tax Unrealised capital gains Double taxation Shadow treasurer Angus Taylor Government Opposition

The proposed Division 296 tax has been described as a shocking move by the government and an unindexed wealth tax on Australians.

read more
Auditing

Valuation expectations may rise

Valuations SMSF auditors Division 296 tax

In preparation for the Division 296 tax, SMSF auditors should be requesting sworn valuations for property assets held within a fund.

read more
Legislation, Tax

New super tax will hit farmers hard

Farms Division 296 tax

Farms held within SMSFs will be heavily impacted by the Division 296 tax due to shifts in the value of underlying assets, with many viewing the impost as an attack on primary producers.

read more

Copyright © SMS Magazine 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital