News

Investments, Superannuation

Better returns not a control priority

investment returns

The control SMSF trustees seek in running their own superannuation fund is not entirely about generating better returns than the public offer funds of which they were or are members.

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Financial Planning

SMSFA welcomes ASIC levy reduction

ASIC levy

The SMSF Association has welcomed the ASIC levy relief, saying it will give advisers much-needed certainty and breathing space.

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Documentation, Superannuation

Ownership of small gold holdings hard to prove

ownership gold

SMSFs may struggle to prove their ownership small quantities of precious metals and regardless of size need to store them according to super laws.

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Education, FASEA

FASEA pass rate drops away

FASEA exam pass rate

The pass rate in the most recent FASEA exam fell away sharply, with only three in five candidates passing the mandatory test.

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NALI/NALE

NALE requires deep analysis

NALE rules

Detailed analysis of a situation where an SMSF trustee provides a service to their fund without charge is required to discover if the NALE rules have been triggered.

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Documentation, NALI/NALE

Related-party leasing documents too vague

related-party lease

SMSFs with related-party leases must provide more details around the arrangements to demonstrate they are at arm’s length under the recently finalised NALE rules.

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Financial Planning

Industry bodies welcome adviser levy reduction

adviser levy reduction

Major industry bodies have welcomed the government’s announcement of a temporary reduction in the ASIC adviser levy after concerns regarding unsustainable cost increases.

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ASIC

SMSF adviser breaches existing ban order

SMSF adviser banning order

A former SMSF adviser based in Queensland has faced court for allegedly breaching a seven-year ban related to a best interest duty failure.

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Regulation, Superannuation

Rule combination a larger fund win

larger SMSFs

One of this year’s budget measures and recently passed legislation could lead to more trustees looking to add adult children to their SMSFs.

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Investments

Private company investments face SMSF limits

private company SMSF

The benefits of investing in a private company may be offset by the limitations placed on those investments in regards to SMSFs.

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