News

Contributions, Tax

Contributions a main EOFY concern

superannuation contributions financial year

Financial advisers are seeking information about making personal and downsizer contributions at the end of the financial year, according to BT.

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Residential Property, Superannuation

Super, housing key to retirement security

superannuation home ownership security

Superannuation is the leading source of retirement income for many retirees, who also consider housing as central to financial security.

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Accounting

Ex-van Eyk CEO pleads guilty

van Eyk Research Thomas

Nearly eight years after van Eyk Research’s closure, its former CEO has pleaded guilty to using his position to dishonestly gain an advantage for himself.

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Auditing

Auditor independence causing stress

SMSF auditor independence

The challenges practitioners are currently facing with APES 110 are leading some of them to reconsider a previously unpopular policy.

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Investments, Strategy

Investment strategies pass muster

SMSF investment strategies

Few investment strategies are falling foul of the required standards, but the ATO has recommended trustees not rely on template solutions.

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AFCA

New AFCA model removes cross-subsidisation

AFCA funding model

Financial services firms that receive high levels of complaints will bear the brunt of costs under a new funding model released by AFCA.

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Contributions, Investments, Pensions

Poor valuations have wide impact

SMSF asset valuations

Inaccurate asset valuations can skew contributions into an SMSF and raise questions around the suitability of its investment strategy.

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Administration, Documentation

Director ID applications clumsy

director identification

Advisers are recommending their clients use manual forms to apply for a director ID number due to the troublesome nature of the myGovID app.

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ASIC, Auditing

ASIC cancels auditor registrations

ASIC SMSF auditor registration

ASIC has cancelled the registration of SMSF auditors who have continued to fail in their obligations to return annual statements.

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Accounting, Death benefits

Death benefits an accountant trap

death benefit nominations accountants

Accountants can face compliance risks on two fronts if they assist clients in completing death benefit nomination forms.

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