News

BDBN references to law incorrect

October 28, 2020

SMSF trust deeds that rely on super laws to direct death benefits are incorrect as those laws only apply to retail and industry funds, an SMSF expert has warned.

read more

Auditing

New standards boost auditor role

October 27, 2020

Tharshini Ashokan

The restructured APES 110 Code of Ethics will help reinforce the important role auditors play in protecting trustees’ retirement savings, a major accounting body says.

read more

Documentation

Digital signatures still not ideal for deeds

October 27, 2020

Jason Spits

Making permanent changes to federal laws to allow electronically signed digital trust deeds will only assist SMSFs when all the states implement similar changes.

read more

Superannuation

Impersonal super misses target

October 27, 2020

Jason Spits

Single-solution superannuation offerings prevent fund members from finding the best contribution and investment mix for their retirement goals.

read more

Superannuation

Indexation may drop TSB limits

October 26, 2020

Darin Tyson-Chan

A technical specialist has predicted indexation measures likely to be applied to the concessional contributions cap could lower the total super balance limits determining the ability for individuals to make non-concessional contributions.

read more

ASIC

ASIC moves against unlicensed SMSF advice

October 26, 2020

Jason Spits

ASIC has taken court action to prevent the provision of unlicensed SMSF advice, which it alleges has led to the loss of investor funds.

read more

Superannuation

Related party purchases must be clean

October 26, 2020

Jason Spits

Trustees must ensure any purchase from a related party is not a proxy for a loan or financial assistance to avoid breaching their obligations.

read more

ASIC

ASIC chiefs vacate roles over expenses

October 26, 2020

Jason Spits

The two most senior leaders at ASIC have vacated their positions after they were found to have received remuneration in excess of allowable limits.

read more

Pensions

Records key to minimum pension

October 22, 2020

Tharshini Ashokan

SMSF members must have the correct documentation in place to support their treatment of pension payments taken before and after 24 March, a technical expert has warned.

read more

Financial Planning

Govt determined to reduce advice impediments

October 22, 2020

Darin Tyson-Chan

The reduction in red tape that is hindering the ability to deliver affordable financial advice to more Australians is a priority for the federal government.

read more