News

Investments

Work share scheme acquisitions a risk

An SMSF that acquires equities from employee share schemes linked with a person’s remuneration can create compliance difficulties for trustees.

An SMSF that acquires equities from employee share schemes linked with a person’s remuneration can create compliance difficulties for trustees.

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Trusts

Seek out delayed trust distributions

SMSFs expecting unit trust distributions should be diligent in finding out why they are delayed to prevent potential NALI breaches.

SMSFs expecting unit trust distributions should be diligent in finding out why they are delayed to prevent potential NALI breaches.

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financial advice, Financial Planning

Adviser time efficiency a concern

Financial advisers are currently spending significantly more time on non-advice-related tasks than they estimate.

Financial advisers are currently spending significantly more time on non-advice-related tasks than they estimate.

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Compliance, Education, Legislation, Regulation, SMSFA

Education directions need fine-tuning

Proposed education directions for SMSF trustees need improvement to be more useful in directing and guiding behaviour.

Proposed education directions for SMSF trustees need improvement to be more useful in directing and guiding behaviour.

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Compliance, Legislation, Property, Regulation, Residential Property

Property developments treated harshly

A recent trustee experience has demonstrated the ATO does not view SMSF investments in property developments involving a related party favourably.

A recent trustee experience has demonstrated the ATO does not view SMSF investments in property developments involving a related party favourably.

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Compliance, Direct Property, Investments, Pensions, Strategy

Liquidity issues should be flagged

SMSF auditors and accountants should be highlighting the need for liquidity inside funds where investments are locked into property assets.

SMSF auditors and accountants should be highlighting the need for liquidity inside funds where investments are locked into property assets.

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Compliance, Contributions, Legislation, Regulation, Superannuation

Call for Payday Super relief extension

Seven industry bodies have recommended the ATO extend transitional relief for the Payday Super reforms out to 30 June 2028.

Seven industry bodies have recommended the ATO extend transitional relief for the Payday Super reforms out to 30 June 2028.

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Compliance, financial advice, Financial Planning

ASIC flags poor establishment advice

ASIC has found the majority of SMSF establishment advice is not in clients’ best interests, but its review is not representative of the sector.

ASIC has found the majority of SMSF establishment advice is not in clients’ best interests, but its review is not representative of the sector.

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Documentation, Practice Management, Strategy

EPOA needed when SMSF set up

An enduring power of attorney should be put in place at the time an SMSF is set up to properly manage any trustee disability in the future.

An enduring power of attorney should be put in place at the time an SMSF is set up to properly manage any trustee disability in the future.

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Compliance, Contributions, Legislation, Regulation, Strategy

Likely EOFY retiree contribution issue

A specific interaction between super and tax law means a small group of retirees may face a narrow window of time in which to make contributions.

A specific interaction between super and tax law means a small group of retirees may face a narrow window of time in which to make contributions.

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