News

ETFs

BetaShares launches food ETF

BetaShares ETF food

Following the increased popularity of plant-based foods, BetaShares has announced its new thematic ETF set to launch at the end of May.

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ATO

No leniency for late returns

SMSF lodgements extension

The ATO is not considering a general extension for late lodgements for SMSF annual returns, but has encouraged people to contact it directly to seek assistance with any problems.

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NALI/NALE

NALE rule changes identified

NALE rules changes

Several potential changes to the non-arm’s-length expenditure rules can be identified based on the recommendations put forward by industry stakeholders.

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Appointments

SuperConcepts bolsters sales team

SuperConcepts sales team

Two new positions within the SuperConcepts sales team have been filled via the appointment of a new team member and an internal promotion.

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AFCA

AFCA adopts merit assessment

AFCA merit assessment

A new merit assessment procedure will be used by AFCA in the early stages of financial services disputes to achieve overall efficiency.

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Pensions

Pension status vital in wind-ups

SMSF pensions

The status of all current pensions needs to be taken into account when looking to wind up an SMSF to avoid cancelling any with special treatment.

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Estate Planning, Property

Limited consideration of property at death

SMSF property death benefit

Non-specialist SMSF advisers are not considering how to treat property as a death benefit.

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Financial Planning

Individual registration problematic

SIAA individual registration

An industry body has suggested a move to individual registration for financial advisers is another one-size-fits-all solution unlikely to succeed.

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Superannuation

Call for superannuation certainty

superannuation election

A call has been made for whichever party forms the next government of the country to ensure the ongoing certainty of the retirement savings system.

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Estate Planning

BDBNs can pose adviser risk

BDBN SMSF legal

The practice of using a BDBN to direct the death benefits of an SMSF member straight to that person’s estate could soon attract legal action.

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