News

Financial Planning, Regulation

Government puts an end to grandfathered commissions

end grandfathered commissions advisers

The government is set to introduce legislation that will end the grandfathering of conflicted remuneration to financial advisers by 1 January 2021.

read more
Education, FASEA

FASEA boosts exam locations, first results to come

FASEA adviser exam results

FASEA has released the dates and locations for the next two rounds of its mandatory adviser exam, including new regional locations, but will take another two weeks before it releases results from the first round of exams.

read more
Pensions, Tax

Pension can retain entitlements even when member dies

pension earnings entitlements

Non-reversionary income streams paid out through pensions can retain earnings entitlements and tax exemptions even when a member dies before payout.

read more
ATO, LRBA

Business as usual for LRBA, NALI reporting

ATO reporting NALI LRBA

The ATO has announced SMSFs should continue reporting LRBAs and NALI according to existing instructions until pending changes in these areas pass into law.

read more
Auditing

SMSF Association commends ASIC auditor action

ASIC SMSF auditor action

The SMSF Association has applauded ASIC’s tough stance on auditors who failed to meet their professional standards.

read more
Superannuation

SG increase to benefit certain workers

increase superannuation guarantee benefit

An industry consultant has said low-to-middle-income earners will benefit from a rise in the super guarantee levy from 9.5 per cent to 12 per cent.

read more
ETFs, Investments

Global exposure growing in importance

SMSF allocation international assets

Having an investment allocation to international assets is increasing as a priority for SMSF trustees, according to the latest sector research.

read more
LRBA

New LRBA reporting requirements unclear

new LRBA reporting requirements

LRBA reporting instructions associated with the new superannuation measures bill may be self-defeating because the ATO is looking to capture too much information.

read more
ATO, Pensions

Confusion again surrounds death benefit pensions

treatment of death benefit pensions

A recent ATO update regarding the treatment of death benefit pensions that have failed to meet minimum pension standards has raised more questions for the sector.

read more
ATO, Compliance, Pensions

ATO concessions critical to avoid pension penalties

ATO concessions death benefit

Trustees of funds that have underpaid their death benefit income streams must first determine whether the ATO’s administrative concession applies to their situation, an SMSF online service provider says.

read more

Copyright © SMS Magazine 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital