News

Give pension certainty to lift drawdown rate

March 3, 2021

Assurances from the government that the age pension and other benefits will be retained will drive more people to draw down on their accumulated retirement savings.

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Financial Planning

Doubt over who owns client relationship

March 3, 2021

Darin Tyson-Chan

New legislation has cast doubt over whether an adviser or a service provider owns an existing client relationship.

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Superannuation

First-job SMSF validation needed

March 2, 2021

Darin Tyson-Chan

SMSFs need to improve their appeal to first-time workers to be considered a viable super fund for life option.

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Retirement

System focuses too much on accumulation

March 2, 2021

Jason Spits

The compulsory superannuation system has been so focused on the accumulation phase that many people are unsure how to use their savings in retirement.

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Regulation, Superannuation

TBC indexation changes not universal

March 2, 2021

Tharshini Ashokan

General TBC indexation will lead to more complexity for some, but not all, SMSFs and advisers need to be aware of where it will apply.

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Compliance

Non action can create sole purpose breach

March 2, 2021

Jason Spits

An SMSF trustee who intentionally took no action to gain a non-retirement benefit will still be viewed as breaching the sole purpose test.

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Superannuation

Your Future, Your Super contradictory

March 2, 2021

Darin Tyson-Chan

Labor has claimed there are significant problems with the Your Future, Your Super bill, particularly around performance measures, that need attention.

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Administration, Technology