News

Accounting, Financial Planning

Accounting bodies seek new advice solution

accountants financial advice model

Accountants will be asked to contribute ideas towards the development of a new financial advice model aimed at reducing regulatory burdens and costs to consumers.

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Residential Property, Retirement

Retirement review has scope to evaluate policy

family home assets test

The review into retirement income will have the ability to assess current policies by gathering facts-based evidence including the exclusion of family homes from the assets test.

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Strategy, Superannuation

SMSFs including family members has pitfalls

SMSFs adult family members

The director of a mid-tier accounting firm has recommended serious assessment be performed before including adult family members in an SMSF due to the additional elements of risk associated with this strategy.

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Compliance, Property

Compliance hampers family trust property transfers

Family trust property transfer

Trustees need to be aware of all potential compliance hurdles when considering the acquisition of a property from a related family trust, a specialist law firm says.

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Regulation, Retirement

Retirement alliance endorses govt review

retirement savings system review

The Alliance for a Fairer Retirement System (the Alliance) has welcomed the federal government’s Review into the Retirement Savings System and has put forward five questions the process should answer.

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Investments, Superannuation

Trustees need to understand investment structures

SMSF investment structures need closer look

The structure used by an SMSF when investing on a co-operative basis must be clearly understood by trustees in order to ensure their fund complies with ATO regulations, an SMSF expert says.

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Investments, Retirement

Retirement income products too hard for some

retirement income products

Investment managers have not produced more retirement income products because some don’t have the capability or patience to do so, one product provider has claimed.

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Auditing, Investments

Whole of wealth picture beyond auditors’ scope

auditors investment strategy SMSF

A technical manager has claimed that SMSF auditors cannot assess the adequacy of a fund’s investment strategy in the context of a trustee’s assets held both inside and outside of super.

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Retirement, Superannuation

Govt formalises retirement review

Govt announces retirement review

An independent review of the retirement income system has been commissioned by the Government, with the final report expected in mid-2020.

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Retirement, Superannuation

Australia in retirement wellbeing top 10

retirement wellbeing top 10

Australia has been named as a top ten nation for the level of overall wellbeing experienced by its retirees but lagged behind in the area of quality of life, according to new report.

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