News

SMSF Professionals Day goes digital

October 21, 2020

The annual SMSF Professionals Day will be delivered via a digital platform for the first time by co-hosts SuperConcepts and selfmanagesuper.

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Auditing

Notification key to audit change

October 20, 2020

Tharshini Ashokan

SMSF clients need to be informed of the changes to the auditor independence standards and how their funds may be be impacted as a result, an SMSF technical expert says.

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ATO, Compliance

ATO penalties must be defensible and just

October 20, 2020

Jason Spits

ATO case officers must have defensible reasons for imposing multiple penalties on an SMSF trustee, new guidelines have revealed.

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Financial Planning

Court convicts Henderson

October 20, 2020

Darin Tyson-Chan

Former Henderson Maxwell chief executive Sam Henderson has been convicted of issuing defective disclosure documents and dishonest conduct by the NSW Local Court.

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Financial Planning

FSC releases new advice model research

October 20, 2020

Darin Tyson-Chan

The Financial Services Council has released research containing recommended changes to the current financial advice model it is looking to use as the catalyst for a policy debate on the issue.

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Compliance, Regulation

AFCA ends dispute time-frame extension

October 20, 2020

Jason Spits

A COVID-19-driven extension to deal with complaints will soon come to an end, giving advice practitioners 21 days to respond to issues raised by clients.

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ATO, Compliance

Trustee steps to shape penalties

October 19, 2020

Jason Spits

The ATO will consider the consistency of a trustee’s behaviour in determining when penalties for breaches will be waived under newly released guidelines.

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Financial Planning

Tax-deductible advice a consideration

October 19, 2020

Darin Tyson-Chan

Australians may be able to claim a tax deduction for the cost of receiving financial advice in the future, a member of parliament has said.

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Compliance, Documentation

Asset values must still be reported

October 19, 2020

Jason Spits

SMSF trustees must continue to report asset values, but will not be penalised if unable to do so because of the COVID-19 pandemic.

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Investments

Capital preservation key to SMSF success

October 19, 2020

Tharshini Ashokan

Fund managers offering capital preservation following the COVID-19 pandemic will appeal to SMSFs struggling in a highly volatile market, an investment expert says.

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