News

ATO

Contravention triggers identified

SMSF contravention

The regulator has shared with practitioners the three most significant factors that lead to SMSF regulatory contraventions.

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Business News

SMSFA returns to in-person national conference

SMSFA conference

The SMSF Association (SMSFA) has announced its first face-to-face conference since 2020 as coronavirus restrictions begin to ease across the country.

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FASEA, Regulation

Bill creating disciplinary body passes

Better Advice Bill

Legislation that will formally end the work of FASEA and create a government-run disciplinary body has passed through parliament.

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Investments

Pinnacle backs in OpenInvest

OpenInvest Pinnacle

Fund manager Pinnacle Investment Management has become a cornerstone investor in fintech specialist OpenInvest as part of a capital-raising exercise.

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FASEA

FASEA pass rate continues to drop

FASEA exam advisers

The number of advisers sitting and passing the most recent FASEA exam has declined again, continuing a trend seen across the year.

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Appointments

Loane to depart FSC

FSC chief executive

After seven years with the Financial Services Council (FSC), chief executive Sally Loane has announced her departure at the end of the year.

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Estate Planning

Law of choice estate planning key

estate planning SMSF

Selecting the most appropriate legal jurisdiction to govern an SMSF is crucial to fortifying estate planning strategies from court challenges.

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NALI/NALE, Superannuation

Financial interest duty unclear on NALE impact

best financial interest NALE

The best financial interest duty remains unclear as to whether SMSF trustees that trigger a NALE event inside their fund will be able to use fund assets to pay the tax bill.

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Financial Planning

SMSFA welcomes FSC advice paper

SMSF Association FSC advice

The SMSF Association has welcomed the Financial Services Council’s recommendations to reduce the cost and complexity of financial advice.

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Investments

Asset balance caution still real

SMSF asset balance

A conservative approach continues to be exercised by practitioners in relation to minimum asset balances associated with SMSF establishments.

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