News

Documentation, Retirement, Strategy

Managing relationship breakdowns in an SMSF

Apportioning SMSF assets

Apportioning SMSF assets when a relationship ends has significant consequences requiring careful consideration.

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Documentation

Copies may not form deed record

SMSF trust deed

Having original documents may be the only acceptable way of proving SMSF trust deed variations have been properly executed, a specialist lawyer has said.

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ATO, Auditing

Part A qualifications off ATO radar

Part A qualifications

SMSFs with Part A qualifications in their annual return should check why they occurred as not all issues need to be reported to the ATO, a technical expert has said.

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ETFs

ETF sector back to pre-COVID-19 levels

ETF performance

The ETF industry has returned to performance levels last seen before the impact of the COVID-19 pandemic, a recent report on the sector has revealed.

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Financial Planning

Number of adviser exits grow

financial advisers exits

The financial adviser population declined again during the second quarter of 2020, contributing to a sharp increase in advised wealth moving from advisers exiting the industry.

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Investments

Infrastructure not SMSF panacea

Infrastructure assets

Making infrastructure assets more available to SMSFs may not provide the post-COVID-19 investment solution for the sector as first thought, a panel of industry thought leaders has said.

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Superannuation

Legislation gap creates recontribution window

super recontributions

The lack of alignment between changes to the work test for voluntary concessional contributions and superannuation preservation age has created a gap where those in the first stages of retirement may be able to make super recontributions unavailable to them before age 65. Heffron managing director Meg Heffron said if bring-forward contribution rule changes currently […]

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Accounting

Trustee removal may be best dispute outcome

trustee removal

Arguments over member rollouts could justify a trustee being removed if the trustee is shown to be acting against the best interests of the fund, an SMSF legal expert says.

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ATO, Superannuation

SuperStream compliance date pushed out

SuperStream

Super funds have been given a six-month grace period in which to comply with requirements to accept SMSF rollovers via SuperStream, with a failure to do so not considered a breach during that period.

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LRBA

Document order key for LRBA

LRBA documents

Trustees purchasing property through limited recourse borrowing arrangements (LRBA) should confirm in what order key documents should be signed for that state, an SMSF legal expert says.

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