News

Auditing

Early access audit role noted

auditors superannuation access

The role of SMSF auditors has been stipulated by the ATO with regard to the early super access COVID-19 relief instrument.

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FASEA, Financial Planning

AFA urges ALP to pass exam extension bill

FASEA exam extension

The AFA has called on the ALP to pass a bill that will extend the FASEA exam timetable after the party added an amendment at the eleventh hour.

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ATO, Superannuation

Early release super processing resumes

Early release superannuation processing

Processing of COVID-19 early release superannuation applications has resumed after the ATO put the process on hold due to fraudulent activity.

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Investments, Property

Trustees must look beyond dividends, property

SMSF share dividends property

SMSF trustees reliant on franking credits and rental income need to shift to new sources of investment growth as a result of the COVID-19 downturn.

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ETFs

BetaShares unveils G7 bond ETF

Betashares G7 etf

BetaShares has launched a new ETF designed to give Australian investors access to long-maturity sovereign bonds issued by G7 nations.

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Auditing

No plans for auditor CPD change

SMSF auditors CPD

The ATO has indicated there is no appetite among regulatory agencies to ease the continuing professional development requirements for SMSF auditors.

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Retirement

Retirement models create false impressions

retirement planning models

Current retirement planning tools create false impressions about retirement balances as they do not factor in spending and lifestyle considerations.

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Financial Planning

Bodies welcome royal commission deferment

royal commission deferral

Stakeholder groups have welcomed the government’s move to defer the implementation of measures relating to the banking and financial services royal commission.

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Superannuation

Rent relief to go beyond 2020

rent relief

The COVID-19 rent relief instrument may need to be extended beyond 2020 in keeping with the timeframe applied to other measures, an SMSF auditor has said.

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ATO, Superannuation

ATO, AFP investigating early access fraud

ATO early access fraud

The ATO is examining if fraud was involved in some cases of early access to superannuation that occurred via a third party and may have affected 150 people.

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