News

Education, FASEA

FASEA challenged on complaints

FASEA complaints

The chair of a parliamentary committee has highlighted concerns across the financial advice sector regarding FASEA processes and its lack of accountability.

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Financial Planning

Reform has pushed away advisers and clients

financial advice reform

The costs of reform have caused practitioners and consumers to abandon the financial advice sector according to two representative bodies.

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Superannuation

Early super eligibility may still be questioned

early release super eligibility

A major accounting body has warned penalties could be issued to individuals who have already accessed their super early under the COVID-19 relief measure, but are ruled ineligible to have done so.

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ASIC, Financial Planning

ASIC cancels licence of SMSF advice group

MyPlanner Professional Services licence

ASIC has cancelled the licence of a now-liquidated Queensland-based advice group that offered SMSF advice and services to clients.

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Tax

NALE costs will be hard to price

NALE general expenses

Putting a cost on services provided by SMSF practitioners to their own funds to resolve NALE concerns will be difficult and questions remain over who will determine those costs.

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Documentation

New ID requirement for corporate trustees

identification SMSF corporate trustee

Directors of an SMSF corporate trustee will be required to comply with a new identification process introduced through legislation passed earlier this month.

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Investments

Vanguard offering to include SMSFs

Vanguard SMSFs

Vanguard has added SMSFs to the list of investors who can gain access to its recently launched Personal Investor offering.

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Education, FASEA

FASEA begins CPD relief consultation

FASEA CPD

FASEA has begun consulting on its proposal to allow advisers an additional three months to meet their 40-hour continuing professional development requirement.

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Pensions

SISFA pushes for pension refund

SISFA pension refund

SISFA has recommended the government consider an excess pension payment refund for those who drew down their pension before a reduction was introduced.

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Financial Planning, Tax

TPB, FPA forge inaugural partnership

TPB FPA MOU

A memorandum of understanding has been signed between the Tax Practitioners Board and the Financial Planning Association facilitating an official information exchange.

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