News

ATO, Documentation

Asset valuation breaches spike

Asset valuation breaches SMSF

Compliance breaches regarding the valuation of SMSF assets have risen significantly over the past few years, the ATO has revealed.

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Administration, Superannuation

SMSF study clears up cost misconceptions

SMSF cost research

The latest research into the running costs of SMSFs has cleared up the common misconception SMSFs are an expensive option compared to APRA-regulated funds, a technical expert says.

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Documentation, Strategy

Members must track contributions

smsf trustees contributions

SMSF members must track their ongoing contributions to ensure they can fully use bring-forward measures without creating an unexpected excess contribution.

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Education

Kaplan winds up flagship education offering

Kaplan DFP

Kaplan Professional has confirmed its Diploma and Advanced Diploma of Financial Planning will no longer be offered going forward.

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ATO, Superannuation

Accounts deadline for ATO only

SMSF financial accounts ATO

A proposed deadline for the finalisation of SMSF accounts will only increase the penalties the ATO can apply and do nothing for SMSFs, industry bodies have claimed.

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Superannuation

Small SMSFs develop rapidly

low balances SMSFs

The latest industry research has shown SMSFs with low balances grow to levels allowing them to become cost-efficient very quickly.

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ASIC

Court action over SMSF advice EU

accountant SMSF advice

ASIC has returned to court to force an accountant to comply with the terms of an enforceable undertaking relating to a banning for SMSF advice.

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ATO

ATO flags valuation guidelines

SMSFs market valuation

The ATO has stressed the need for correct market valuations of assets for SMSF annual returns.

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Retirement

Self-funded retirees welcome review report

Self-funded retirees review

Self-funded retirees have welcomed the Retirement Income Review final report as a necessary, fact-based appraisal useful for creating new policies.

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Retirement

Cost of retirement up in September quarter

Cost of retirement

Retirees’ cost of living and spending rose during the September quarter despite the effects of the COVID-19 pandemic becoming less pronounced.

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