News

Appointments

Former SuperConcepts GM joins SuperAA

SuperAA new general manager

SMSF administration and audit firm SuperAA has appointed a former SuperConcepts executive to be its new general manager.

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Investments

Hunt for yield to intensify

yield interest rates

The continued reduction of the official interest rate will see SMSF investors increase their focus on generating yield from their investments, a global fund manager has predicted.

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Appointments

SMSF legal firm recruits advice expert

Townsends SMSF expert

Townsends Lawyers has added an SMSF expert to its team, providing advice to staff and clients within the legal firm and its affiliate, SuperCentral.

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ATO, Superannuation

NALE may be proving ground for legal challenges

SMSF trustees need to take into account certain legislative and regulatory changes that will come into effect from 1 July 2021.

The recent focus on non-arm’s-length expenditure (NALE) by regulators may be a move to prevent any legal challenges in that area if the matter is brought to court.

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Accounting, Compliance

Accountants influence poor trustee compliance

Accountants SMSF trustees compliance

Accountants should not sympathise with the views of SMSF trustees who do not value good compliance, an SMSF lawyer says.

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Pensions

TBC can hurt death benefit pensions

Transfer balance caps

Trustees should understand how the death of an SMSF member could lead to potential TBC and property issues, an SMSF legal expert says.

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Auditing

Evolv upgrades licensed audit platform

Evolv Super audit platform

SMSF audit firm Evolv Super has made key upgrades to its audit platform that focus on risk reduction and efficiency.

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ATO

ATO letters should spark trustee education

ATO SMSF investment strategies

ATO letters examining SMSF investment strategies should lead to advisers educating trustees on their responsibilities, an SMSF expert says.

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ATO

ATO confirms tougher admin penalties stance

The ATO experienced a $1.4 million increase in administrative penalties collected in the 2019 financial year, according to the regulator’s most up-to-date data.

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FASEA, Financial Planning

Code of ethics will rewrite law, reduce income

FASEA code ethics AFA

The AFA has labelled the FASEA code of ethics as unworkable, claiming it will rewrite financial services law and adversely impact on adviser revenue.

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