News

Technology

Software creating compliance angst

SMSF software compliance

An unquestioning reliance on superannuation software can lead to compliance issues with regard to SMSF investment strategies.

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SuperStream

SuperStream shifts rollover responsibility

SuperStream compliance

SuperStream has shifted most of the compliance work for a rollover to the transferring fund, creating the issues it is currently experiencing.

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NALI/NALE

Budget must not be silent on NALI

budget NALI

The federal budget must address superannuation reforms, including NALI, and simplify the system to reduce complexity and cost.

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Superannuation

Super changes must be ruled out

Superannuation changes

The federal opposition has called on the Labor government to resist making any changes to the superannuation system it is being encouraged to undertake.

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Documentation

Two-share corporate trustee set-up flawed

Two shares corporate trustee

Trustees and advisers should consider issuing more than two shares in an SMSF corporate trustee to allow the fund to operate more efficiently.

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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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