News

Class adds DocuSign to product suite

October 19, 2021

Class has launched its new digital signature feature in partnership with DocuSign to create a more rapid process for professionals and clients.

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NALI/NALE

Government reviewing NALE impact

October 18, 2021

Jason Spits

The government is looking at the impact of NALE provisions on SMSFs and may offer a solution, according to an industry body.

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LRBA

LRBA shouldn’t cause negative balances

October 18, 2021

Darin Tyson-Chan

Employing an LRBA in an SMSF should not lead to any of the fund members having a negative asset balance.

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Financial Planning, Property

COVID issues key adviser concerns

October 18, 2021

Jason Spits

COVID relief measures for SMSFs and the use of property have been key areas of concern for advisers in the past quarter.

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Business News

Hub24 to acquire Class

October 18, 2021

Tia Thomas

Hub24 will acquire all ordinary shares in Class in a multi-million-dollar share swap deal.

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Documentation

Scanned documents not acceptable

October 14, 2021

Darin Tyson-Chan

Superannuation law and other pieces of legislation do not allow the use of scanned copies of documents as an official record for a fund.

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Estate Planning, Retirement

Be wary about claims around incapacity

October 14, 2021

Jason Spits

Any claims about the incapacity of an SMSF trustee must come with fully documented evidence and should not rely only of the word of an attorney.

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Superannuation

Six-member funds trustee training ground

October 14, 2021

Tia Thomas

Six-member funds will be a useful tool to prepare adult children taking over a fund from a parent who has lost capacity.

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Financial Planning

ASIC further extends COVID SOA measures

October 14, 2021

Jason Spits

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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