News

Estate Planning, Technology

Midwinter, Inherit Australia strike deal

A new agreement will see data integration from the Midwinter financial advice software into the Inherit Australia estate planning tool.

A new agreement will see data integration from the Midwinter financial advice software into the Inherit Australia estate planning tool.

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Pensions

ATO pension discretion needs care

ATO pension discretion

Best practice dictates advisers adopt a conservative approach where an SMSF client is relying on ATO discretion regarding a minimum pension breach.

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Documentation

Print amended deeds regardless of length

amended SMSF deeds

The production of deeds should be no respecter of paper, with an SMSF legal expert urging the use of new paper deeds for every update and change.

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Accounting, financial advice

Limited licence adviser numbers drop sharply

accountants limited licence

The number of accountants operating under a limited licence has more than halved in the past year compared to peers under a full licence model.

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ASIC

Mayfair appeal against ASIC penalty dismissed

Mayfair appeal against ASIC

The Federal Court has dismissed an appeal by Mayfair 101 against a $30 million penalty for false advertising handed to it late last year.

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LRBA

Compliance risk from LRBA default

LRBA loan guarantor

The instance of a lender to an SMSF exercising an LRBA guarantor clause could lead to a compliance breach of superannuation (SIS) law.

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Property

Timing key in business real property status

business real property

The status of business real property in an SMSF hinges on from whom it is acquired and who makes use of it when owned by the fund.

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Education

Accurium expands education beyond SMSFs

Accurium education

Accurium will offer accounting firms education services after requests for information on personal and small business tax matters.

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Accounting

FPA calls for levy freeze, CSLR expansion

FPA levy compensation scheme

The FPA has called for an extension to the ASIC levy freeze for another year, as well as a broader scope for the compensation scheme of last resort.

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Auditing

Audit lessons from Caddick case

smsf auditors caddick

SMSF auditors must heed the lessons that have emerged from the fraudulent activities uncovered in the well-publicised Melissa Caddick case.

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