News

Indexed TBC not relevant for all

September 1, 2021

SMSF practitioners should not believe the myth that every client’s TBC indexation needs to be calculated as the new figure will never be relevant for some of them.

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ATO, Superannuation

ATO tweaks Super Fund Lookup process

September 1, 2021

Darin Tyson-Chan

A new procedure is now being applied to newly established SMSFs and how the ATO reflects their status on the Super Fund Lookup website.

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Appointments

SMSFAAA appoints new board member

September 1, 2021

Tia Thomas

The SMSF Auditors Association has appointed an auditor technologist to its board of directors in an effort to improve the level of expertise on offer to its members.

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Investments

Fidelity unveils first managed portfolio

September 1, 2021

Jason Spits

Fidelity has released its first separately managed account, which has a focus on a portfolio of actively managed Australian equities.

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Investments, Superannuation

Better returns not a control priority

August 31, 2021

Darin Tyson-Chan

The control SMSF trustees seek in running their own superannuation fund is not entirely about generating better returns than the public offer funds of which they were or are members.

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Financial Planning

SMSFA welcomes ASIC levy reduction

August 31, 2021

Tia Thomas

The SMSF Association has welcomed the ASIC levy relief, saying it will give advisers much-needed certainty and breathing space.

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Documentation, Superannuation

Ownership of small gold holdings hard to prove

August 31, 2021

Jason Spits

SMSFs may struggle to prove their ownership small quantities of precious metals and regardless of size need to store them according to super laws.

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Education, FASEA

FASEA pass rate drops away

August 31, 2021

Jason Spits

The pass rate in the most recent FASEA exam fell away sharply, with only three in five candidates passing the mandatory test.

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NALI/NALE

NALE requires deep analysis

August 30, 2021

Darin Tyson-Chan

Detailed analysis of a situation where an SMSF trustee provides a service to their fund without charge is required to discover if the NALE rules have been triggered.

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Documentation, NALI/NALE

Related-party leasing documents too vague

August 30, 2021

Jason Spits

SMSFs with related-party leases must provide more details around the arrangements to demonstrate they are at arm’s length under the recently finalised NALE rules.

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