News

ATO

SMSF rollovers delayed by manual requests

October 13, 2021

Rollovers into SMSFs using the ATO’s SMSF verification service are being delayed due to a large number of manual verification requests.

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Investments, LRBA

Property investments clouded in statistics

October 13, 2021

Jason Spits

The total percentage of property assets in SMSFs is split across different categories, but combining them under a single asset class shows property is the second largest investment area.

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Financial Planning

Redefine advice by its focus

October 13, 2021

Jason Spits

Government should define financial advice by its focus on an individual’s personal circumstances and not the nature of information provided.

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Cryptocurrency

BetaShares launches crypto ETF

October 13, 2021

Jason Spits

An ETF offering investments in companies servicing the cryptocurrency market will soon be launched on the ASX.

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NALI/NALE

NALE cash settlement safer

October 12, 2021

Darin Tyson-Chan

Paying for SMSF services with cash so as to comply with the non-arm’s-length expenditure rules is unnecessary, but probably more prudent.

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Superannuation

Death not definitive in lump sum strategy

October 12, 2021

Darin Tyson-Chan

A lump sum paid from super will not necessarily be treated as a death benefit even if the relevant member passes away before the payment is made.

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Succession Planning, Superannuation

BDBNs not only option for death benefits

October 12, 2021

Tia Thomas

While BDBNs are a popular way to allocate death benefits, they can be overturned, so other existing options should also be considered.

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Financial Planning

FSC calls for end to safe harbour, SOAs

October 12, 2021

Jason Spits

Replacing statements of advice with simpler documents and removing safe harbour steps would reduce advice costs and time by one-third, the FSC has claimed.

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Regulation, Retirement