News

ASIC further extends COVID SOA measures

October 14, 2021

ASIC has extended relief measures which allow the use of records of advice for COVID-19 financial hardship-related advice until April 2022.

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ATO

ATO provides PAYG instalment relief

October 14, 2021

Tia Thomas

The ATO will not apply penalties or interest on varied PAYG instalments for COVID affected SMSFs provided they can prove they took reasonable care to estimate their end-of-year tax.

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Financial Planning

FPA welcomes FSC advice recommendations

October 14, 2021

Jason Spits

The FPA has welcomed recommendations from the FSC to reduce the cost and complexity of advice, noting they are consistent with its own reform plans.

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ETFs

ETF Securities provides access to fintech sector

October 14, 2021

Darin Tyson-Chan

Investors will now have the opportunity to include companies in the fintech and blockchain sectors in their portfolios via a new ETF offering.

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Documentation

Email issues complicate e-approvals

October 13, 2021

Darin Tyson-Chan

SMSF trustees may be limited in their use of any measures allowing the use of digital signatures to approve fund documents due to their email set-ups.

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ATO

SMSF rollovers delayed by manual requests

October 13, 2021

Tia Thomas

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