News

Compliance

Financial misconduct key disqualifying factor

Evidence of dishonest conduct will not automatically disqualify an individual from being an SMSF trustee unless it is of a financial nature.

read more
Financial Planning

Current advice model fails consumers

advice fails consumers

Consumers are being let down by the unnecessary complexities and costs of the current regulatory advice model, the SMSF Association says.

read more
Education, Estate Planning

New body sets member standards

SAPEPAA education standards

A newly formed industry body has progressed to developing its own education standards for advice on family-related asset transfers.

read more
Auditing

Independence solution at hand

auditor independence client exchange

A client exchange program has been developed by an accounting software company that could allow practices to retain their SMSF audit arms without breaching the amended auditor independence standards.

read more
Accounting, Financial Planning, Superannuation

Drop exam, licence for limited super advice

accountants limited superannuation advice

More people could receive assistance if accountants were not subject to licensing or adviser exams in order to provide limited super advice, an industry body has said.

read more
Pensions, Strategy

Intent key for nil-balance members

nil-balance SMSF members

The intention of an SMSF member with a nil balance can be the determining factor as to whether their inclusion in a fund will be problematic.

read more
Insurance

Correct evidence needed for TPD

TPD definition tax SMSF

Disabled members will not automatically meet the TPD definition for tax purposes despite satisfying both the underwriter and SIS Act definitions, an SMSF technical expert warns.

read more
Accounting, Auditing

No existing referral threshold

auditor referrals threshold

Accounting firms do not have a prescribed number or percentage of referrals from one source they must avoid in order to comply with the amended auditor independence standards, a specialist practitioner has said.

read more
Documentation

Case law unsettled on BDBNs by attorneys

BDBN case law attorney

An ongoing set of legal cases in different states has yet to find common ground on whether an attorney can make a BDBN to direct super benefits on behalf of a SMSF member.

read more
Financial Planning

Scaled advice review can change model

scaled advice

The review of scaled advice will create an opening to change the current advice model, which forces people into offerings they don’t want or need.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.