News

Direct Property, Residential Property

SMSF demand drives fragmented property model

SMSF fragmented property

Demand for property investments from SMSFs will create new models to provide access to investments for trustees without large fund balances.

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Superannuation

Super to hit $4.8 trillion in 2034

Superannuation industry assets

The assets held within the superannuation sector will reach $4.8 trillion by 2034, an actuarial consulting firm has forecast.

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Administration, Compliance

Offshore control of SMSFs possible, but limited

SMSF overseas control

SMSF trustees can exercise control over their funds while overseas, but recent ATO rulings have emphasised the need for major decisions to take place in Australia.

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Accounting, ASIC

ASIC highlights register deadline for licensees

ASIC AFS licensees

ASIC has reminded AFS licensees of the January deadline for providing new information about their financial advisers.

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Commercial Property

Thinktank exceeds $2b in loan settlements

Thinktank loan settlements

Thinktank has reached over $2 billion in loan settlements, attributing its success to the sustained demand for commercial property finance among investors.

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ATO, Auditing

ATO auditor review finds need for improved education

ATO review auditors

More than two-thirds of the 51 auditors studied by the ATO so far as part of its review of the top 100 SMSF auditors required education, the regulator has said.

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ASIC, Financial Planning

ASIC project to clarify general advice

ASIC project general advice

The Australian Securities and Investments Commission is set to undertake a project examining what general financial advice means, an industry leader has said.

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ATO, Superannuation, Tax

Trustees unaware of ENCC repayment options

trustees excess contribution

Trustees may be unaware they could pay too much to the ATO when responding to excess non-concessional contribution determinations and need to review the options presented to them.

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Accounting, Financial Planning

Accountants abandoning advice

Accountants advice risk

The risk associated with providing financial advice is causing a significant number of accountants to stop providing this service for their clients, an industry advice leader has said.

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Administration, Compliance

Past offences a barrier to trustee role

SMSF trustee eligibility

Potential SMSF trustees should be encouraged to disclose any past dishonesty offences to avoid committing a further offence if they take on the role.

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