News

ATO, Compliance, SMSF

Sole purpose test misinterpreted

ATO SMSF Sole purpose test Property development

The application of the sole purpose test is often misunderstood when SMSFs become involved in a property development arrangement.

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Death benefits

Six month payment timing a myth

Superannuation Death benefit Payment timing Business Depot Neal Dallas

Super funds are not required to make death benefit payments within 180 days and claims that is the case are an urban myth based on unrelated laws.

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Business News

Hub24 buys into private equity firm

Hub24 Reach Alternative Investments

Hub24 has taken a minority stake in Reach Alternatives and will partner with it to release new products offering access to private equity investments.

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ETFs, Investments

Global X launches growth focused ETF

Global X S&P World Ex-Australia GARP ETF Global X ETF GARP

Global X has introduced a GARP ETF onto the Australian market, blending aspects of both value and growth investing.

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SMSF

SMSFs record exceptional growth

New SMSFs Class Class Ignite 2024 Wind-ups Growth 2024 Annual Benchmark report

SMSF establishments over the 2024 financial year are predicted to hit around 30,000 new funds, with growth driven largely by younger members.

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Retirement, Superannuation

Age pension fails to meet retirement needs

Retirement Age pension Superannuation

The age pension is proving insufficient to support even a basic standard of living in retirement, leading to growing concerns about financial well-being among senior Australians.

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financial advice, Financial Planning, Tax

ATO updates advice fee deduction rules

Financial advice fees Tax deduction ATO Tax determination FAAA Financial Advice Association of Australia Sarah Abood

The ATO has released new rules around the deductibility of financial advice fees, which should reduce the upfront cost of advice.

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ASIC, Compliance, ESG, Investments

Vanguard to pay $12.9m greenwashing penalty

Greenwashing ESG Vanguard Mercer ASIC Federal court

Vanguard Investments Australia has been ordered to pay a multi-million-dollar penalty for false statements regarding the application of ESG screens to a bond index fund.

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Pensions, Retirement, SMSF

Trustees retiring earlier with more

Class SMSF TRIS Transition-to-retirement income streams APRA Pension

Research has found a much higher percentage of SMSF trustees are in pension phase and have larger member balances compared to those in APRA-regulated funds.

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BDBNs, Tax, Trusts

BDBNs may hinder estate plans

BDBN Superannuation proceeds trust Binding death benefit nomination SMSF

A BDBN may not always be the best option for handling superannuation death benefits as it can lack the flexibility a trust structure provides.

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