News

Business News

Class acquisition gains traction

Class acquisition

Superannuation administration service provider Class is reaping the rewards from its purchase of NowInfinity.

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ATO, Superannuation

Sector data has limited relevance

SMSF data

Overall SMSF data can reflect the state of the sector, but has limited application when considered at fund level.

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Property, Tax

Rent relief a 2020 tax return issue

Rent relief

The tax implications of rent concessions granted to tenants as a result of COVID-19 need to be taken into account for the 2020 financial year, an SMSF technical expert says.

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Appointments

Industry veteran announces retirement

SMSF Association

The SMSF Association has confirmed its head of technical Peter Hogan will be retiring at the end of September.

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Investments

LICs/LITs must adapt to new ban

Listed investment

LICAT has flagged the significance of the stamping fee ban for listed investment companies (LIC) and listed investment trust (LIT) and its impact on the industry.

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ATO, LRBA

ATO broadens LRBA strategies

LRBA strategies

Limited recourse borrowing arrangements can now legally be structured in more ways due to an instrument released by the ATO.

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Documentation, Investments

LEI costs reduced for SMSFs

SMSFs LEI

SMSFs that trade in foreign currency and derivatives can reduce their cost and administration requirements through a new multi-year identification renewal offer.

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Investments, Retirement

COVID-19 downturn not the same as GFC

COVID-19 downturn

Recent growth in investment markets after COVID-19 driven downturn is not the same as after the GFC and is obscuring increasing levels of government debt.

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LRBA

Loan relief not an opportunity

LRBA loan relief

Individuals should think carefully about entering into a new related-party limited recourse borrowing arrangement to benefit from the COVID-19 loan relief provisions, a technical manager has warned.

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FASEA

Common theme to FASEA feedback

FASEA requirements

The educational requirements under the FASEA framework have been labelled impractical for members of the Stockbrokers and Financial Advisers Association.

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