News

Death benefits, Legislation, SMSF, Superannuation

Benefit dispute highlights SMSF value

DBA Lawyers, William Fettes, BDBN, AFCA, Federal Court, Richard Lynn, Australian Prudential Regulation Authority, APRA, SMSF death benefit, SMSF lawyer,

A death benefit payment that was ruled on by AFCA and the courts has demonstrated the advantages of nominations and succession planning inside an SMSF.

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Investments, Markets, Platforms, Technology

Class expands share registry connections

Class has extended its share registry data feed connections, which now include the majority of companies listed on the ASX..

Class has extended its share registry data feed connections, which now include the majority of companies listed on the ASX.

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AFCA

AFCA approach doesn’t mean higher payouts

Australian Financial Complaints Authority, AFCA, Compensation amounts, CSLR, Compensation Scheme of Last Resort, Shail Singh, Patrick Hartney,

AFCA has explained the use of actual loss as a basis for awarding consumer compensation will not result in smaller payouts.

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ATO, Tax, Trusts

ATO steadfast on UPEs post-Bendel

unpaid present entitlements, UPE, ATO, Louise Clarke, Bendel,

The ATO will not change its stance on the treatment of unpaid present entitlements from unit trusts while waiting on an appeal against the ruling delivered in the Bendel case.

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Compliance, Documentation

Resolutions use can lessen disputes

Member disputes, Accurium, education, Mark Ellem, Neal Dallas,

Adopting a practice of using resolutions to verify every course of action an SMSF undertakes can effectively mitigate member disputes.

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ASIC, financial advice, Financial Planning, SMSF

Poor SMSF advice leads to $11m penalty

A licensee that provided cookie cutter advice about property investments via SMSFs has received a multi-million dollar fine.

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Death benefits, Superannuation

Financial abuse move now a certainty

Both major political parties have committed to amending the law to stop perpetrators of financial abuse from benefiting through superannuation.

Both major political parties have committed to amending the law to stop perpetrators of financial abuse from benefiting through superannuation.

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Insurance, Regulation, SMSF, Superannuation

Birth date impacts bring-forward NCCs

Non-concessional contributions, Craig Day, Linda Bruce, Colonial First State, CFS,

The provisions allowing SMSF members to trigger the NCC bring-forward rules in a subsequent financial year are birth-date sensitive.

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Education, Retirement, SMSF, Superannuation

Downsizer not sole home sale benefit

Smarter SMSF, education, SuperGuardian,Tim Miller, 

SMSF members who can make downsizer contributions before retirement can use those funds in more than one way apart from a lump sum addition to super.

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ATO, SMSF

ATO urges SMSFs to go paperless

SMSF trustees have been encouraged to lodge activity statements using the ATO’s paperless, online system, which gives them more time to submit documents.

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