News

Advised SMSFs unfazed by market volatility

September 15, 2020

SMSFs’ asset mix on BT Panorama has remained fairly consistent despite heightened market uncertainty caused by the COVID-19 pandemic.

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Investments

Collectables squeezed out by insurance

September 15, 2020

Jason Spits

The holding of collectable and personal-use assets inside an SMSF has dropped away significantly due to strict restrictions about insuring the items.

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ATO, Pensions

ATO extends commutation assistance service

September 15, 2020

Jason Spits

The ATO has extended the time for trustees issued with a commutation authority to make direct contact and seek assistance with any problems.

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FASEA

FASEA moves Melbourne October exam online

September 15, 2020

Tharshini Ashokan

FASEA has cancelled the October sitting of the financial services exam across exam venues in Melbourne as a result of ongoing COVID-19 restrictions.

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Auditing, Documentation

Data feeds not an auditor independence exception

September 14, 2020

Darin Tyson-Chan

Data feeds cannot be used as proof SMSF financial statements have been prepared by an accounting firm in a “routine and mechanical” way in the context of the new auditor independence standards.

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Superannuation

Super changes still being bedded down

September 14, 2020

Jason Spits

Sweeping changes to superannuation in 2017 are still not fully understood and further changes are unlikely in the near future, according to a government minister.

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Superannuation

Govt urged to defer SG rise, cut super tax

September 14, 2020

Tharshini Ashokan

The Australian Small Business and Family Enterprise Ombudsman has called on the government to defer super guarantee rises and reduce the tax on compulsory employer SG contributions.

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Retirement