News

SMSFs can be sophisticated investors

December 23, 2021

Trustees can band together with their SMSF to meet the status of a sophisticated investor, but should ensure any investment still meets their joint obligations.

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ASIC, Regulation

TPB status key to speed of TFA registration

December 23, 2021

Jason Spits

The automatic registration of tax financial advisers with ASIC will depend on their status with the Tax Practitioner’s Board at year’s end.

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Business News

Merry Christmas

December 23, 2021

Darin Tyson-Chan

The team at selfmanagedsuper would like to wish all of our readers a very Merry Christmas and a happy, healthy and prosperous New Year.

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Administration

BT points admin clients to Heffron

December 22, 2021

Jason Spits

BT will give SMSFs the option of choosing their own administration firm but has held discussions with Heffron about transition its clients to the latter.

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ATO

ATO holds off on TBA reporting compliance

December 22, 2021

Tia Thomas

The ATO will not take compliance action for a limited time against funds that have not reported a TBA event after the commencement of a new income stream.

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ASIC

ASIC prepares for FSCP rollout

December 22, 2021

Jason Spits

ASIC has started preparations for its new adviser enforcement panel, but will not release guidance on its operation until early next year.

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ASIC

Mayfair 101 Group hit with $30m fine

December 22, 2021

Darin Tyson-Chan

Mayfair 101 Group has had a $30 million penalty imposed upon it by the Federal Court for making false or misleading claims in its product advertising.

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ESG, Investments