News

Crypto Assets, Cryptocurrency

ATO urges advice on crypto investments

ATO advice crypto

The ATO has recommended SMSF trustees seek professional advice from licensed financial advisers when considering crypto-asset investments.

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ASIC

ASIC halts income fund offering

ASIC Westlawn fund

ASIC has placed an interim stop order on the distribution of a property fund aimed at retail investors because of deficiencies found in its target market determinations.

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Retirement

Inflation, longevity eating retirement income

Inflation longevity retirement

Longer lifespans and higher inflation may lead to retirees being caught short of income to fund the full term of their retirement.

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NALI/NALE

Government briefed on NALE

government NALE

It has been confirmed the new Labor government has been notified about the flaws in the non-arm’s-length expenditure legislation.

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ATO

ATO set to disqualify non-lodging tax agents

tax agents SMSF trustees

Hundreds of tax agents who are SMSF trustees face disqualification for failing to lodge an annual return unless they urgently engage with the ATO.

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Superannuation

Large balance cap punishes compliant funds

balances cap SMSFs

Placing a cap on SMSFs with large balances would punish funds that have and are operating under government-approved superannuation rules.

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Investments

Investment control not leading to more trades

SMSF investments control

SMSFs set up for the purposes of investment control tend to trade at the same rate as those established for other reasons.

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financial advice

Markets drive up value of advice

market value of advice

Financial advice has been a key factor in helping investors handle volatile markets, with advisers considered a source of value by their clients.

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Contributions

NOI requires great care

notice intent contribution

Advisers and trustees need awareness of situations where it may not be possible to amend an NOI regarding a personal deductible contribution.

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Death benefits

Death benefits vary for TBC, TSB

death benefits TBC TSB

Advisers need to be aware of the differing treatment of a death benefit pension with regard to the transfer balance cap and the total super balance.

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