News

Investment strategy percentages not needed

September 26, 2019

Fund investment strategies do not need to specify the percentage of an SMSF portfolio that will be allocated to a certain asset class, a specialist auditor has said.

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ATO, Investments

ATO letters a wider SMSF warning

September 26, 2019

Jason Spits

Letters sent by the ATO to nearly 18,000 SMSFs may serve as a warning to a far greater number of funds with similar strategies, an SMSF expert has claimed.

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Superannuation

Abbott reboots SMSF Party plans

September 26, 2019

Jason Spits

SMSF expert Grant Abbott will re-register his political party which aims to represent the interests of self funded retirees, SMSF members and trustees.

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Compliance

Trustee confusion over downsizer age

September 25, 2019

Darin Tyson-Chan

An industry administrator and educator has revealed many SMSF trustees remain unclear about the age constraints contained in the superannuation downsizer contribution rules.

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Documentation, Superannuation

Corporate trustee needs standalone company

September 25, 2019

Jason Spits

SMSFs looking to set-up a corporate trustee should use dedicated companies for the task as pre-existing vehicles may breach the law.

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Financial Planning, Investments

Outsourcing clients’ investment selection on the rise

September 25, 2019

Tharshini Ashokan

Financial planners are losing confidence in the domestic stock market and moving away from being directly involved in selecting investments for clients, according to a recent industry report.

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Compliance, Documentation

Documentation leading cause of compliance failure

September 24, 2019

Jason Spits

Documentation compliance continues to be a key issue for SMSFs with many trustees ignorant of their obligations and requiring adviser assistance to educate them.

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LRBA

LRBA treatment dependent on member’s circumstance

September 24, 2019

Darin Tyson-Chan

The extent to which the outstanding balance of a limited recourse borrowing arrangement will affect a member’s total super balance is determined by the individual member’s circumstances, according to an SMSF service provider.

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Superannuation

Travelling trustees still had “Australian” super fund

September 24, 2019

Tharshini Ashokan

A recent ATO private binding ruling has found an SMSF to be an Australian super fund despite its members spending a significant amount of the income year overseas.

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ATO, Investments

ATO letters’ impact already evident

September 23, 2019

Darin Tyson-Chan

A specialist document provider has revealed many trustees have already been reassessing their investment strategies as a result of the ATO’s letter querying the investment strategy of 17,700 SMSFs invested in a single asset or asset class.

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