News

ATO, Tax

Loan deferrals need safe harbour clarity

June 23, 2020

Further guidance from the ATO is required to indicate how the related-party loan safe harbour rules can potentially be amended for COVID-19 loan deferrals, a technical expert has suggested.

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Investments

SMSFs failing to renew trading identifier

June 23, 2020

Jason Spits

SMSFs are failing to renew an important identification number required for international trades of non-equity investments, according to an issuer of the number.

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ATO, Superannuation

ATO watching early release claims

June 23, 2020

Jason Spits

The ATO has repeated warnings it will act against people abusing the early release scheme and has informed them they are being tracked.

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ATO, Superannuation

Clearer cost data welcomed

June 22, 2020

Darin Tyson-Chan

The latest ATO SMSF statistical overview for the 2018 financial year has been commended by a peak industry body for providing more accurate expense data about the sector.

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ATO, Superannuation

Wind-ups peak but growth continues

June 22, 2020

Jason Spits

New ATO data shows the level of SMSF wind-ups peaked in 2017/18, but the size of the SMSF sector continues to grow steadily.

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Pensions

Time to review commuted pension reporting

June 22, 2020

Jason Spits

The passing of a recent omnibus bill has restarted the clock for SMSFs to report when members have commuted a market-linked pension.

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Financial Planning, Retirement

Retirees avoiding advice despite COVID-19

June 22, 2020

Tharshini Ashokan

Most Australian retirees feel their investments are at risk as a result of the coronavirus pandemic, but almost 80 per cent have avoided seeking financial advice, a survey has revealed.

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Education, FASEA

FASEA confirms remaining 2020 exam dates

June 22, 2020

Tharshini Ashokan

FASEA has announced the remaining sitting dates of the adviser exam for 2020 will be held in August, October and November.

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Pensions, Regulation

Exam bill brings other changes

June 18, 2020

Jason Spits

The welcome news of a longer time frame to complete the adviser exam has overshadowed necessary changes to lingering death benefit and pension issues.

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Financial Planning, Investments

Robo-advice more popular in US

June 18, 2020

Tharshini Ashokan

The US continues to lead in the demand for robo-advice among online investors, a survey shows, and women are more likely to use automated investment services than men.

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