News

Property, Superannuation

Step carefully before offering rent relief options

SMSF landlords rent relief

SMSF landlords should consider the options available to them before determining rent relief granted to related tenants, SISFA says.

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FASEA

COVID-19 hits exam numbers

FASEA adviser exam

Financial advisers shied away from the first online sitting of the FASEA exam, but registrations for the second iteration are building strongly.

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Compliance, Superannuation

TPB targets tax agents for SAN misuse

TPB SAN misuse

The Tax Practitioners Board (TPB) is reviewing 74 registered tax practitioners believed to have provided false information to the ATO.

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Pensions

Market downturn may suit new pension starts

SMSF pension

The current market downturn may benefit SMSF members looking at starting a pension as fund balances come under restrictive limits.

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Strategy, Superannuation

Year-end review critical in 2020

SMSF strategies

The importance of reviewing SMSF strategies in the lead-up to the close of the 2020 financial year has taken on new significance due to the COVID-19 economic impact, a mid-tier accounting firm director has said.

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Retirement

Govt defers retirement income covenant

retirement income

The government has deferred the implementation of retirement income framework legislation previously expected to commence in July.

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LICs

LIC, LIT stamping fees banned

LIC LIT stamping fees

Listed investment companies and trusts will no longer be able to charge stamping fees from 1 July 2020.

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Appointments

Tech leader exits SuperConcepts

SuperConcepts technical manager

The technical team of administration service provider SuperConcepts has been further reduced following the departure of its SMSF technical services executive manager.

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Regulation, Superannuation

Delaying NCC action could bring rewards

bring forward contribution

Members who are eligible but wary about exercising the non-concessional contribution bring-forward provision this year could be rewarded for their patience.

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ATO, Documentation

ATO offers new commutation assistance service

commutation authority assistance

A new ATO service will allow trustees issued with a commutation authority to make direct contact with the regulator to resolve any problems.

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