News

Financial Planning

Advice review proposals in two weeks

Advice Review proposals

Some of the findings from the government’s Quality of Advice Review will be released before the final report, which is due in December.

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NALI/NALE

NALE now an industry-wide issue

NALE superannuation industry

Concerns about the NALE rules as they currently stand and the associated penalties are now being expressed by the entire superannuation industry.

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Appointments

SMSF Association CEO to move on

SMSF Association chief executive

SMSF Association chief executive John Maroney will step down in 2023, with his deputy set to succeed him.

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Documentation, Estate Planning

Special rules can protect ageing members

special rules SMSF

The increase in the wealth of some SMSF members may require special deed rules to protect their interests as they get older.

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Accounting

Hardship access is fund responsibility

hardship access superannuation

Super funds have been reminded they are responsible for deciding if a member can access funds early due to financial hardship, but the criteria is very limited.

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Education

New online learning site opens

SuperConcepts online learning

SuperConcepts has launched an on-demand online learning service to cover current legislative issues.

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Death benefits

Death benefit review more critical

death benefit review

The recent decision handed down in the Hill v Zuda case should encourage SMSF trustees to review their death benefit nominations more often.

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Superannuation

Preserved components create opportunities

preserved benefits superannuation

The preserved nature of superannuation benefits creates planning opportunities for members receiving a split from their former spouse.

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Death benefits

Accountants need nomination awareness

accountants death benefits

SMSF accountants have a role to play in explaining the outcomes of death benefit strategies even if trustees rely on a lawyer to execute any decisions.

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AFCA, Appointments

AFCA adds ex-ASIC executive to board

AFCA Rickard

AFCA has appointed the outgoing deputy chair of the ACCC, who is also a former ASIC senior executive, to its board.

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