News

ATO, Superannuation

Independent valuation a cheap insurance policy

Independent asset valuation

SMSFS can avoid expensive asset transfer errors by seeking an independent asset valuation even though it is no longer required in all cases.

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Estate Planning

Death benefit conflict needs urgent management

death benefit conflict

SMSF trustees should, before they die, resolve any conflict of interest around death benefits that stem from naming a beneficiary as executor.

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Auditing

Decline in auditors not over yet

SMSF auditors number

SMSF auditor numbers are declining and recent changes to independence and fees are likely to drive that trend further.

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Estate Planning

Estate planning education still required

superannuation assets death

The treatment of superannuation benefits in the event of a member dying remains an area largely misunderstood by the general public.

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Regulation

SMSFA joins effort to expand compo scheme

compensation scheme

The SMSF Association has joined a coalition of industry and consumer groups to push for a wider compensation scheme for consumers.

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Financial Planning

Adviser Ratings updates scoring system

adviser ratings

Adviser Ratings has revamped the methodology it employs to rate practitioners to give consumers a better idea of financial services professional standards.

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ETFs

ETF Securities launches hydrogen fund

ETF Securities hydrogen

ETF Securities has expanded its energy investment options with the launch of a hydrogen ETF available on the Australian Securities Exchange.

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ATO, Retirement

Illegal early access on the rise

retirement early access

SMSFs being set up to allow individuals to access their retirement savings early and illegally increased last year and the trend is continuing.

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Estate Planning

Legal weight behind BDBN validity exemptions

BDBN validity exemptions

Four separate court cases have now confirmed SMSF BDBNs are not covered by super laws regarding witness numbers and validity periods.

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ASIC

Mayfair 101 defends itself against ASIC action

Mayfair ASIC penalty

Investment company Mayfair 101 Group has used a penalty hearing to challenge a $12 million fine issued to it after an ASIC investigation.

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