News

Education, FASEA

FASEA panned but deadline extension supported

FASEA deadline extension

Labor has supported an extension to the deadline for advisers to comply with new education standards, but has criticised how FASEA has handled the changes.

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Administration, Superannuation

SuperConcepts reports sharp asset decline

superconcepts

SuperConcepts has reported a sharp fall in assets under administration after a year of restructuring the SMSF administration business.

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ATO, LRBA

ATO begins intermediary LRBA consultation

Intermediary LRBA

The ATO has announced its draft legislative instrument regarding intermediary limited recourse borrowing arrangements is open for consultation until mid-March.

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Retirement, Superannuation

Actuaries Institute wants broader SG coverage

Superannuation guarantee cover

A call for the super guarantee to include more Australians regardless of their employment situation has been made by the Actuaries Institute in its submission to the Retirement Income Review.

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Financial Planning

Recognising emotional value a must

Financial advisers emotional value

Financial advisers need to recognise the value of their advice proposition is multidimensional in order to best serve their clients, a research analyst has said.

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Retirement

Retirement reforms unnecessary

Retirement income system

The latest submissions to the Retirement Income Review have deemed major system reform unnecessary.

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Pensions

Pension reporting systems need review

pension reporting systems

SMSF administrators should take the time to review their procedures and administration systems in order to prevent a fund failing to meet minimum pension payments.

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Financial Planning

AMP-linked advice associations merge

AMP financial advice associations

Two associations for AMP-linked advisers will merge to continue to promote the best interests of their members to the company, government and consumers.

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Compliance, Regulation

Compo scheme should be broad

financial services compensation scheme

All providers of financial services and products should be part of and contribute to an industry-wide consumer compensation scheme, the SMSF Association has recommended.

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ATO, Superannuation

ATO death benefit ruling raises questions

ATO member benefit ruling

A private ruling by the ATO on the timing of a member benefit payment has raised questions about whether it is consistent with tax and super law.

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