News

ATO

ATO fixes ESA alert error

ATO error SMSF alert

The ATO has confirmed it is working on the recent electronic service address (ESA) issue that has resulted in SMSF trustees receiving direct alerts from the regulator in error.

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ASIC, Auditing

ASIC bans SMSF auditor, acts on five others

ASIC action SMSF auditors

ASIC has taken action against six SMSF auditors after receiving referrals from the ATO to examine their level of compliance with legal obligations.

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Direct Property, Residential Property

Property fragmenter lists first development project

property fragmented

A property group offering segmented investments at smaller entry figures has opened access to its first ground-up development.

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Education, FASEA

FASEA panned but deadline extension supported

FASEA deadline extension

Labor has supported an extension to the deadline for advisers to comply with new education standards, but has criticised how FASEA has handled the changes.

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Administration, Superannuation

SuperConcepts reports sharp asset decline

superconcepts

SuperConcepts has reported a sharp fall in assets under administration after a year of restructuring the SMSF administration business.

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ATO, LRBA

ATO begins intermediary LRBA consultation

Intermediary LRBA

The ATO has announced its draft legislative instrument regarding intermediary limited recourse borrowing arrangements is open for consultation until mid-March.

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Retirement, Superannuation

Actuaries Institute wants broader SG coverage

Superannuation guarantee cover

A call for the super guarantee to include more Australians regardless of their employment situation has been made by the Actuaries Institute in its submission to the Retirement Income Review.

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Financial Planning

Recognising emotional value a must

Financial advisers emotional value

Financial advisers need to recognise the value of their advice proposition is multidimensional in order to best serve their clients, a research analyst has said.

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Retirement

Retirement reforms unnecessary

Retirement income system

The latest submissions to the Retirement Income Review have deemed major system reform unnecessary.

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Pensions

Pension reporting systems need review

pension reporting systems

SMSF administrators should take the time to review their procedures and administration systems in order to prevent a fund failing to meet minimum pension payments.

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