News

ASIC

Former van Eyk chief sentenced

van Eyk chief executive sentenced

The former head of van Eyk Research has been sentenced to imprisonment and community service for breaching his duties as a director.

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Regulation

Behind the budget – the unwritten stuff

SMSFs residency requirements

The sector will await the next budget to see if the abolition of the active member test is part of moves to relax SMSF residency requirements.

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Auditing

Audit registration fee parity wanted

SMSF auditors registration fees

The SMSF Association has used a submission to government to recommend audit registration fees be standard for all practitioners.

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In-house assets

SMSF loans go beyond in-house assets

SMSF loan in-house asset

When SMSF trustees are looking for their fund to make a loan to their business, advisers must look beyond the in-house asset rules for compliance purposes.

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Death benefits

Tax-free benefits need relationship shift

tax-free benefits

Benefit payments requested before death but paid afterward can be tax-free only if an SMSF member has altered their relationship with their fund.

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Retirement, Superannuation

Retirement key to super objective

retirement objective superannuation

Industry stakeholders believe the proposed legislated objective of super needs to include retirement and must be drafted in a simple manner.

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Superannuation

More super balance cap resistance

Superannuation balance cap opposition

The possible move by the government to impose a cap on superannuation balances has met with opposition from another industry body.

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Superannuation

Super changes should go to an election

Superannuation changes election

Any government policy aimed at making changes to the superannuation system should be taken to an election to allow Australians to vote on the issue.

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Investments

SuperConcepts adds portfolio management tool

superconcepts portfolio management

SuperConcepts will add a stand-alone portfolio management tool for advisers and accountants to its product suite.

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Documentation, Strategy

Structures key to compliant investments

SMSFs structures investment

SMSFs need to closely examine how they invest with related parties to prevent the creation of benefits that may be considered non-compliant.

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