News

Business News

SISFA proposes merger with tax body

SISFA merger

SISFA has announced plans to merge with Tax and Super Australia rolling its operations and membership into the latter and dropping its name.

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Retirement

Actuaries challenge current retirement modelling

actuaries retirement modelling

Retirement modelling should incorporate a set of fundamental principles that make future projection more meaningful and tied to actual experience.

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Financial Planning

Clients’ needs should be top priority

clients needs priority

The needs of clients should be the number one priority for financial services firms but this fundamental principle has not always been followed.

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ASIC

ASIC moves on reciprocal audits

SMSF auditors reciprocal

ASIC has found eighteen SMSF auditors in breach of independence regulations after conducting reciprocal audit arrangements.

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Compliance, Documentation

Disqualification declaration may be annual

smsf trustees disqualified

A number of corporate SMSF trustees will have to declare each year they are still able to run their fund after insolvency law changes late last year.

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NALI/NALE

Employee share schemes may not attract NALI

employee share NALI

Having an SMSF participate in an employee share scheme may not automatically trigger the NALI provisions should an acquisition discount be involved.

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Business News

SMSFA conference tackles red tape

SMSF Association conference

A new concurrent session has been added to the program for the 2022 SMSF Association National Conference to address the issue of industry red tape.

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Documentation

Multiple attorneys can cause conflict

powers attorney SMSF

An SMSF expert has warned trustees to consider the implications of appointing numerous children as joint powers of attorney.

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Investments

Employee share model details important

employee share SMSF

Not all offers of shares from an employer can be passed through to an SMSF, with details of the transaction often hidden behind the name.

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Investments, Technology

OpenInvest partners with Simon Wu venture

OpenInvest Simon Wu

SWU Group and OpenInvest have partnered to release a digital investment platform to clients of the Simon Wu led advice firm.

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