News

Cryptocurrency

Bitcoin fund receives key rating

monochrome bitcoin

A Bitcoin fund has been awarded a crucial rating from a research house that will allow the product provider to improve its advisory relationship.

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Documentation

Corporate attorneys unfit for SMSFs

SMSFs corporate attorney

SMSFs with a corporate trustee looking to use a corporate power of attorney may find its application limited by superannuation laws.

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ATO, NALI/NALE

NALE enforcement not ironclad

NALE enforcement

The ATO’s stated position with regard to enforcement of the NALE rules for the 2022 income year in PCG 2020/5 is not ironclad.

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Financial Planning

Reduce but improve adviser regulations

financial advice regulations

Less regulation that is better crafted and administered is needed to reduce the cost and complexity of financial advice, according to the FPA.

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Investments

Performance may be life-cycle driven

smsf performance

A deeper examination of SMSF underperformance may reveal it is caused in some cases by the life cycle of fund members rather than poor investments.

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Technology

Latest iteration of SuperMate launched

SuperMate SuperConcepts

The new-generation SuperMate has been launched by SuperConcepts, which has promised to offer compatibility with previous versions.

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ASIC

Disciplinary panels may address ASIC concerns

asic disciplinary panels

ASIC’s adviser-led disciplinary panels may be called upon to review trends in bad advice and provide input into deterrent measures.

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Superannuation

More work needed to close super gap

ASFA superannuation gap women

Closing the 23 per cent gap between women and men’s superannuation has been too slow, with ASFA calling for committed strategies to reduce inequality.

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Superannuation, Tax

Deed change deductions not equal

SMSF deed deductions

Tax deductions for a change to an SMSF trust deed are based on the impact on the operation of the fund and so not applied across the board.

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Contributions

Shift super caps from annual to lifetime

lifetime superannuation caps

Superannuation contribution caps should be shifted from an annual to lifetime basis to better recognise contribution patterns and reduce costs and complexity.

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