News

Accounting

Accountants chase SMSF clients

Accountants more SMSF clients

Accountants have expressed a desire to add more SMSF clients to their books of business, according to the latest industry research.

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Documentation

Govt move eases electronic document execution

electronic document execution

Issues around the electronic execution of SMSF documents have been simplified with temporary federal regulations removing different state-based requirements.

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Financial Planning

FPA reassures advisers over AFSL proposal

FPA AFSL proposal

The FPA has clarified its recommendation to dismantle the AFSL system for advisers and replace it with individual registration.

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Administration

Administrator offers data-matching portal

SMSF Alliance data-matching

SMSF Alliance has upgraded it portal, offering a data-matching service for trustees that can be used by advisers to generate new sources of fee income.

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FASEA

FASEA approves historical coursework

FASEA historical coursework

FASEA has approved additional coursework, previously offered by a major university, as meeting its education standards

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Appointments, ATO

ATO SMSF leader moves on

ATO assistant commissioner SMSFs

The role of ATO assistant commissioner SMSF segment will be pass into new hands from next week as the regulator reassigns a number of key staff.

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Superannuation

SMSFs soft target for relief cash

SMSFs COVID-19 relief

SMSFs and self-funded retirees are soft targets for tax increases designed to replenish government funds spent on COVID-19 relief.

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LRBA

Problems with LRBA relief

SMSFs LRBA relief

SMSFs may encounter complications when seeking relief from limited recourse borrowing arrangement payments relating to COVID-19 financial hardship, a technical expert has said.

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ATO, Superannuation

ATO tells SMSFs to ignore off-target letters

ATO SMSFs letters

SMSFs that have received a letter requiring them to report claims for a contribution deduction should ignore them as they do not apply.

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Superannuation

FSC calls for one-off super boost

FSC COVID-19 superannuation

The Financial Services Council has called for a special contributions regime for super fund members impacted by COVID-19.

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