News

Appointments

FSC names acting chief executive

FSC deputy chief executive

The Financial Services Council has looked within to find an acting chief executive as Sally Loane makes her exit after seven years.

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Superannuation

Wind-ups first need deed review

SMSF wind up deed

Before an SMSF is shut down, trustees should review the fund’s trust deed to ensure there are no restrictions to the process.

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Succession Planning

Replacement trustees will need director ID

director identification SMSF

Corporate SMSF trustees intending to use an enduring power of attorney in the future need to ensure that person also has a director identification number to take on the role.

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Superannuation

Budget measures will become election promises

SMSF budget measures

The SMSF sector is likely to see budget changes from this year re-announced as election promises rather than as enacted bills in the next year.

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Pensions, Regulation

Govt revamps Pension Loans Scheme

pension loans scheme

The Pension Loans Scheme has received a makeover that includes a name change and a reduction in the applicable interest rate.

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Business News

Hub24 revises Class offer

Hub24 Class dividend

Hub24 has upped the cash price it will pay for Class shares and made changes to future dividend payments under the purchase scheme.

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ATO

Education focus for ID regime

ATO director identification

The interim period for the new director identification number regime will see the ATO concentrate on education in situations of non-compliance.

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Superannuation, Tax

Cancelling ABN creates SuperStream glitch

SuperStream ABN

The cancellation of an SMSF’s ABN upon closure of the fund is creating problems with the rollover of tax refunds via SuperStream.

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Appointments

SMSFA appoints BDO partner to board

SMSFA board

The SMSFA has appointed BDO partner Geoff Rooney as a new board member, with his experience set to help with the ongoing SMSF regulatory and legislative changes.

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Retirement

Pre-retirees uncertain about their future

retirement savings survey

A new global survey has revealed those under 45 years old are unsure if their retirement savings will provide them with a comfortable life.

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