News

Cryptocurrency, Investments

The SMSF reality of owning NFTs

SMSF NFTs

The ability of an SMSF to own non-fungible tokens is not an impossibility, but it does come with many compliance issues that need to be addressed.

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ATO

Director ID application rejection rare

Director identification rejection

The ATO has acknowledged instances of applications for a director identification number being rejected are likely to be very rare.

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Regulation

Election places super changes under cloud

Election super changes

A number of long sought-after changes may not pass through parliament before the next election due to a limited number of sitting days in the first half of 2022.

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Technology

SuperConcepts updates Classic software

SuperConcepts software update

SMSF administration provider SuperConcepts has announced its last major SuperMate update for 2021.

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FASEA

FASEA exam pass rate drops to new low

FASEA exam pass rate

The pass rate for the last FASEA exam open to all advisers has fallen again, with just over half passing the November exam.

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ETFs

Fidelity launches demographics-based ETF

Fidelity demographics ETF

Fidelity has created an ETF version of a global demographic fund in response to demand for actively managed listed funds.

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Investments

PIMCO introduces its first listed investment trust

PIMCO income LIT

The demand for income-generating investments has resulted in PIMCO planning for the releasing of a new listed investment trust in 2022.

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ATO

Rollover management now needed

SuperStream SMSFs rollovers

The requirement for SMSFs to use the SuperStream system to process member rollovers has made prudent fund management more critical.

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Financial Planning

Consider capacity across a spectrum

client capacity

Advisers should not presume the incapacity of a client to act in one area will restrict them from acting in another.

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Financial Planning, Regulation

Labor stance on degrees welcomed

Labor advisers degree

The federal opposition’s promise that it will not require experienced advisers to hold a degree has been welcomed by the SAFAA.

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