News

Digital BDBN approval very risky

May 3, 2023

Executing a binding death benefit nomination is legally allowable, but exposes SMSF trustees to a significantly higher level of risk.

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Contributions, SMSFA, Superannuation

SMSFA backs payday super reforms

May 3, 2023

Todd Wills

New reforms requiring employers to pay super on payday will benefit younger Australians using SMSFs and improve compliance within the superannuation system.

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Insurance

Insurance ownership trapping trustees

May 3, 2023

Jason Spits

SMSF trustees who have insured fund assets in their own name will be unlikely to be able to return insurance payments to their fund due to cap limits, an auditor has warned.

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LRBA

Rate rises fuel LRBA usage

May 3, 2023

Darin Tyson-Chan

The increase in the use of LRBAs to buy property in an SMSF has been aided by the recent number of official interest rate rises.

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Platforms, SMSF, Superannuation

Super platform to launch adviser portal

May 3, 2023

Jason Spits

Investment platform Superhero will launch a new portal allowing advisers to open superannuation and SMSF trading accounts for clients.

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financial advice, Platforms, Technology

Hub24 to acquire myprosperity

May 3, 2023

Todd Wills

Hub24 will acquire myprosperity in a deal that will expand its suite of brands and offerings for financial services practitioners.

Brief investment strategy optimal

May 2, 2023

Darin Tyson-Chan

Overly detailed SMSF investment strategies written over multiple pages will not improve their chances of being compliant with the law.

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Superannuation, Tax

Allow members to reduce balance below $3m

May 2, 2023

Jason Spits

The government should allow working super fund members with balances above $3 million to make tax-free withdrawals as part of its new super tax proposal.

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financial advice, Regulation