News

ATO, SMSF, SMSFA

Demographic sector shift continues

The SMSF sector has continued to expand, with ATO statistics showing the shift to younger member establishments continuing.

The SMSF sector has continued to expand, with ATO statistics showing the shift to younger member establishments continuing.

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Administration, Strategy

Trustee structure no lump sum barrier

An SMSF has the ability to pay lump sums to its members regardless of the trustee structure it is using, with guidance on this unchanged for decades.

An SMSF has the ability to pay lump sums to its members regardless of the trustee structure it is using, with guidance on this unchanged for decades.

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financial advice, Financial Planning

Younger Australians have advice demand

A recent analysis on the value of financial advice has confirmed there is an untapped market for practitioners among younger Australians.

A recent analysis on the value of financial advice has confirmed there is an untapped market for practitioners among younger Australians.

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Investments

Salter Brothers expands market footprint

Salter Brothers has recently acquired private credit fund manager Causeway Asset Management, which will widen its private credit offering.

Salter Brothers has recently acquired private credit fund manager Causeway Asset Management, which will widen its private credit offering.

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Documentation, SMSF

Family split court orders absolute

Family split court orders must be followed regardless of whether the parties involved recognise they have been drafted incorrectly.

Family split court orders must be followed regardless of whether the parties involved recognise they have been drafted incorrectly.

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ASIC, financial advice, Financial Planning, Property

SMSF property advice leads to ban

An adviser who recommended the use of SMSFs for property investments has been banned for not acting in his clients’ best interests.

An adviser who recommended the use of SMSFs for property investments has been banned for not acting in his clients’ best interests.

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financial advice, Financial Planning

FAAA wants CSLR levy capped at $20m

The FAAA has called on Treasury to apply the Compensation Scheme of Last Resort special levy across a broader range of sectors.

The FAAA has called on Treasury to apply the Compensation Scheme of Last Resort special levy across a broader range of sectors.

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ATO, Auditing, Compliance

Lost declaration treatment clarified

The ATO has given SMSF auditors some surety around addressing the absence of missing trustee declarations, but more guidance is being sought.

The ATO has given SMSF auditors some surety around addressing the absence of missing trustee declarations, but more guidance is being sought.

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Compliance, Legislation, Regulation, Tax

Avoid family split payment shortcuts

An order issued in the event of a family split must be executed properly without shortcuts to allow the intended outcome to eventuate.

An order issued in the event of a family split must be executed properly without shortcuts to allow the intended outcome to eventuate.

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