News

ASIC

ASIC granted orders against developer

ASIC property developer

ASIC has moved to freeze the assets of a property developer who while unlicensed advised clients to roll super into an SMSF to invest in property developments.

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Appointments, Technology

Padua expands tech, marketing capability

Advice software and services provider Padua Solutions has appointed a new technical and marketing manager as demand for its services grows.

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Documentation

Off-the-shelf documents popular

off-the-shelf documents

The majority of advisers participating in a recent survey have indicated they favour using off-the-shelf documents for their SMSF clients.

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Trusts

Lag in trust entitlements receipt risky

SMSF trust entitlements

SMSFs should ensure they receive any entitlement from a trust before the end of the financial year to avoid in-house asset breaches and trust failures.

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Administration, Technology

SuperMate attains milestone

supermate SMSF administration

The SuperMate administration software platform is now servicing 1500 SMSFs a few months after the launch of the latest version of the service.

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ATO

Clock ticking for annual return lodgement

SMSF annual return lodgements

The ATO has reminded trustees to ensure all SMSF annual returns are lodged and up to date prior to the new financial year to avoid penalties.

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ATO, Contributions

Follow reserving advice closely

SMSF contribution reserving

SMSF members have been warned to stick to the rules when planning to use contribution reserving and follow the ATO’s guidance closely.

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Pensions

June pension commutations best

SMSF pension stream

Trustees considering commuting and restarting an income stream should cease the pension at the end of the financial year.

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Financial Planning

Joint effort needed to make advice accessible

financial advice accessible

A group of industry leaders has presented the case for a collaborative effort to reduce the barriers to advice for consumers.

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ASIC

Adviser levies remain static

ASIC adviser levy

ASIC has released its cost recovery levies, with those for the advice sector remaining static under a freeze introduced last year.

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