News

Education

New initiative for FAR educational obligations

SMSF Association Deakin University AccountantsIQ Financial Adviser Register Education SMSF Specialist Advisor Program Bronny Speed

A new initiative has been made available to assist practitioners in meeting the Financial Adviser Register educational obligations.

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financial advice

FAAA upgrades planner search tool

Financial Advice Association Australia FAAA Find a planner Money & Life Tania Milnes

The Financial Advice Association Australia has enhanced the tool consumers can use to find a planner, making it easier to search by a range of criteria and allowing them to personalise the information available.

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Property

Fit-outs could raise SIS issues

Heffron Lyn Formica Annie Dawson commercial property SMSF Self-managed superannuation fit-out

Trustees have been urged to tread carefully when undertaking work on SMSF-held commercial properties as charging the fund for such services can lead to compliance breaches.

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Business News, financial advice, Technology

IFPA signs digital advice partnership

IFPA Institute of Financial Professionals Australia Pippa McKee MoneyGPS George Haramis single-topic financial advice digital advice

The Institute of Financial Professionals Australia has created a new partnership that will allow its members to offer online advice without needing to hold their own licence.

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Tax, TPB

Updated tax agent bill tabled in parliament

Tax agents code of professional conduct Tax Agent Services (Code of Professional Conduct) Determination 2024 Stephen Jones IFPA SMSF Association amendment

An amended bill dealing with the proposed changes to the code of professional conduct for tax agents has been tabled in parliament.

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Downsizer

Downsizer favoured by women

ATO Downsizer contributions superannuation women

Women have led the use of downsizer contributions since they were first introduced and have added more into their superannuation than men taking advantage of lower age limits.

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Auditing, Compliance

ASIC auditor referrals remain steady

SMSF auditors ATO ASIC Referrals independence standards APES 110 Code of Ethics for Professional Accountants

The ATO has continued to refer auditors to ASIC at a steady pace, with key reasons in the last year related to breaches of independence obligations.

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Compliance, TPB

Tax agent code needs more attention

Tax Agent Services (Code of Professional Conduct) Determination 2024 Stephen Jones Treasury Amendments Joint bodies IFPA SMSF Association CA ANZ CPA Australia FAAA

More work is needed before the final version of the Tax Agent Services (Code of Professional Conduct) Determination 2024 can be seen as satisfactory.

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AAT

AAT decision will create precedent

Administrative Appeals Tribunal AAT ATO decision impact statement SMSF trustee banning Gordon Merchant Merchant and Commissioner of Taxation Coronica and Commissioner of Taxation Sladen Legal Phil Broderick Terence Wong

An AAT decision to overturn the banning of an SMSF trustee for a one-off mistake is likely to be referred to in other cases, despite the ATO downplaying the outcome.

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Business News, Education

Course content completion date revealed

Heffron Super Extension Meg Heffron Super Intensive Day Super Foundations Education course

Heffron has announced when it expects all of the educational content formulated for its Super Extension course to be completed.

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