News

Superannuation

Virus drives interest in advice

coronavirus advice superannuation

Financial pressures and government relief measures ensured super was a leading topic of interest in internet searches and social media conversations last year, according to new research.

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Superannuation, Technology

SuperStream needs info updates

SuperStream rollover extension

The extension of SuperStream to cover SMSF rollovers means advice practitioners should be checking clients’ funds are ready to make use of the pending changes.

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Financial Planning

Reference checking should go beyond advisers

advisers reference checking

Financial advisers and those in management roles should all be covered by a work history protocol to stop ‘bad apples’ moving through the sector.

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Superannuation

Cost of SG rise will hit wages

super guarantee increase

Employee wage rises will be adversely affected by the legislated superannuation guarantee (SG) rise, a senior government minister says.

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Investments

Mayfair 101 offering wound up

Mayfair 101 debenture

ASIC has been successful in its application to have secured debenture issuer M101 Nominees, promoted by the Mayfair 101 Group, liquidated.

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Appointments

Investment Trends appoints research leader

Investment Trends research head

Financial services research firm Investment Trends has appointed a new head of research replacing a long serving staff member.

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Regulation, Tax

NALE guidance being considered

NALE guidance SMSF trustees

The impending legislation regarding non-arm’s-length expenses (NALE) could contain guidance providing methods that will allow SMSF trustees to avoid breaching the final provisions, a technical expert has said. “[An] area being considered here is how guidance can be provided on how the trustees can avoid breaches of the trustee remuneration provisions within section 17A [of […]

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ATO

Penalty regime will give and take away

ATO SMSF penalty regime

The penalty regime from the ATO will give breaks to SMSF trustees but will still hit their wallet if they fail to tow the line, a tech expert has warned.

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ATO, Superannuation

TBC indexation set for July

TBC indexation

Indexation of the general transfer balance cap will occur on 1 July, leading to a departure from a standard figure for super fund members.

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Auditing

Outsourcing not audit panacea

Outsourcing auditor independence

White-label or outsourcing arrangements are not likely to provide an adequate compliance solution to the amended auditor independence standards.

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