News

Pensions

Reversionary pensions rethink valid

reversionary pensions

Advisers and trustees should reconsider whether or not to make a pension reversionary given the current parameters of the superannuation system.

read more
Pensions

Loose ends halt legacy pension amnesty

legacy pension amnesty

Government plans to commence an amnesty on the rollover of legacy pensions is being held back by loose ends only it can address.

read more
ASIC

ASIC cancels stagnant SMSF AFSL

ASIC cancelled licence

The licence of a Victorian-based SMSF financial adviser has been cancelled by ASIC after services to retail clients ceased.

read more
ASIC, Financial Planning

Advice sector carrying compliance cost burden

financial advice costs

The financial advice sector is carrying a significant proportion of industry compliance costs when compared with its size and the level of complaints directed against it.

read more
Pensions

Minimum drawdown most important for death benefit pensions

death benefit pensions

It is most important for trustees to ensure the minimum drawdown amount is met for any death benefit pensions operating within an SMSF.

read more
ECPI, Tax

Complex disregarded asset rules need review 

disregarded asset rules

The rules relating to disregarded small fund assets in an SMSF should be reviewed to either reduce their complexity or phase them out entirely.

read more
ATO, NALI/NALE

NALE requires perfection in fund expenses

NALE fund expenses

The ATO’s stance on NALE inside a super fund is too broad and will require perfection in many transactions.

read more
FASEA

Examinees need wider client behaviour view

FASEA behavioural finance

FASEA exam candidates who have struggled with questions on behavioural finance are typically viewing it too narrowly.

read more
ATO, NALI/NALE

ATO retains NALE income nexus

ATO NALE nexus

The ATO has released its final ruling on the treatment of NALE and will continue to view the expenses as having a nexus to all of a super fund’s income.

read more
Auditing

APES 110 has impacted slow audits

APES SMSF audits

The amended auditor independence standards contained in APES 110 have already impacted some SMSF audits that were unable to be completed before 1 July 2021.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.