News

COVID-19 limits retiree spending

August 18, 2020

The COVID-19 pandemic has resulted in a dip in the cost of living for retirees, the latest ASFA Retirement Standard has revealed.

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Superannuation

COVID relief blurs contributions

August 17, 2020

Darin Tyson-Chan

Legitimate contributions to super funds from individuals who have accessed their retirement savings early to alleviate COVID-19 financial hardship will face greater ATO scrutiny, a technical expert has said.

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Retirement

Retirement debate overlooks taxpayer funding

August 17, 2020

Jason Spits

The debate on how to fund retirement income needs to focus on adequacy issues first, while keeping in mind it is wholly funded by taxpayers.

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Property, Regulation

DomaCom gets downsizer approval

August 17, 2020

Darin Tyson-Chan

An ATO Administrative Binding Advice ruling obtained by DomaCom means individuals will be able to make downsizer contributions from the partial sale of a residence.

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Superannuation

Long-term cost of early access over $100b

August 17, 2020

Tharshini Ashokan

The government’s early release super scheme will cost future generations over $100 billion and has undermined the importance of Australia’s superannuation system, BetaShares says.

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Investments, Superannuation

SMSF early access spike refuted

August 13, 2020

Jason Spits

Early release of superannuation from SMSFs was not unexpected, but trustees are likely to draw on much less money than recently predicted, according to the SMSF Association.

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Documentation, Platforms

Class acquires documentation provider

August 13, 2020

Jason Spits

Class has acquired a second compliant documentation provider as part of a plan to boost its presence in that market.

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Financial Planning

Planner cooperative mooted

August 13, 2020

Darin Tyson-Chan

The possibility of establishing a financial planning cooperative to help smaller firms with their running costs is being proposed by a Queensland-based practice.

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Documentation, Retirement, Strategy

Managing relationship breakdowns in an SMSF

August 13, 2020

Meg Heffron

Apportioning SMSF assets when a relationship ends has significant consequences requiring careful consideration.

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Documentation

Copies may not form deed record

August 12, 2020

Darin Tyson-Chan

Having original documents may be the only acceptable way of proving SMSF trust deed variations have been properly executed, a specialist lawyer has said.

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