News

BT Panorama digital consent feature timely

April 23, 2020

The recent launch of BT Panorama’s digital advice consent tool has been described as timely by one of the organisation’s senior strategy executives.

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Accounting, Insurance

PI concerns over relaxed advice

April 22, 2020

Darin Tyson-Chan

Accountants need to check their professional indemnity insurance cover before providing advice under the relaxed compliance measures ASIC announced last week, according to a technical expert.

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ATO, Superannuation

Govt tips over 1.5m early access applications

April 22, 2020

Tharshini Ashokan

The government expects over 1.5 million people to apply for early release of their super under its COVID-19 relief measure.

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ASIC, Auditing

ASIC disqualifies four SMSF auditors

April 22, 2020

Tharshini Ashokan

ASIC has disqualified four SMSF auditors and suspended two more as part of ongoing action against SMSF auditor misconduct.

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ATO, Documentation

ATO defers SAR lodgement date

April 22, 2020

Jason Spits

The lodgement date for SMSF annual returns has been automatically pushed out to 30 June for all funds in the latest COVID-19 relief measure from the ATO.

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Superannuation

SMSF satisfaction on the rise

April 22, 2020

Darin Tyson-Chan

Satisfaction among SMSF members increased in March despite significant falls in Australian equities, the latest research into the superannuation industry has shown.

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Compliance

Court reinforces trustee standards

April 22, 2020

Bryce Figot & Daniel Butler

The recent dismissal of an appeal brought by an SMSF trustee has highlighted the need for them to maintain high standards and act in good faith when executing their duties.

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ATO

PBRs may not be loan safety net

April 21, 2020

Darin Tyson-Chan

ATO private binding rulings may not offer infinite protection from being caught by the non-arm’s-length income rules with regard to SMSFs with related-party loans, a specialist law firm has warned.

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Pensions

SMSFs must consider all super for ECPI

April 21, 2020

Jason Spits

SMSFs should be considering their total superannuation holdings when calculating exempt current pension income to avoid using the wrong method.

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Insurance, Superannuation

Early super access could halt insurance cover

April 21, 2020

Tharshini Ashokan

Members who access their super early under the government’s coronavirus relief measures should consider how this will affect the life insurances provided by their super fund, a technical expert says.

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