News

Auditing

TPB must act on SAN misuse

TPB SAN misuse

The Tax Practitioners Board (TPB) must take action against tax agents believed to have misused SMSF auditor numbers (SAN) to prevent it happening again, a specialist auditor says.

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Commercial Property

Rent waiver implications important

rent waiver SMSF landlords

A technical expert has cautioned SMSF landlords to be aware of the implications stemming from a commercial property rent waiver before granting one.

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FASEA

Industry applauds passing of exam extension

FASEA exam

The passing of a bill extending the deadline for advisers to complete the FASEA exam has been widely welcomed by the financial advice sector.

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ETFs

SSGA model portfolio ETFs added to HUB24

SSGA ETF HUB24

Four ETF model portfolios from State Street Global Advisors will be available to financial advisers through the Hub24 platform.

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ATO, Tax

Not all NALI is off ATO radar

ATO NALI provisions

The ATO’s recent ‘no-action’ stance on some non-arm’s-length income (NALI) positions has overshadowed the fact that other provisions have applied since 2018.

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Accounting, Practice Management

COVID-19 highlights vital offshoring framework

accounting offshoring

COVID-19 business restrictions for accounting firms have highlighted the need for detailed risk management plan when looking at offshoring arrangements.

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Investments, Retirement

SMSFs should seek ‘all-weather’ portfolios

SMSFS portfolios

SMSFs with ‘all-weather’ investment portfolios could neutralise the sequencing risk caused by severe economic uncertainty.

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Financial Planning

SMSF advice group shuts doors

MyPlanner Professional Services

An advice group offering licensing and SMSF advice services to planners and accountants that was under ASIC scrutiny has shut down.

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FASEA

FASEA exam bill at a political impasse

FASEA exam bill

Moves to extend the time frame for advisers to complete the FASEA exam remain caught up in parliament due to further amendments to an enabling bill.

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Financial Planning, Superannuation

COVID-19 SOA relief to end in October

SOA relief

ASIC’s COVID-19 relief measures relating to advice around the early release of super, including the use of an SOA, will be repealed in October.

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