News

One quarter of all advisers pass FASEA exam

April 7, 2020

The latest FASEA exam results show a further 1800 advisers have passed, increasing the total number to more 25 per cent of all advisers.

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Investments

Downturn not deterring investors yet

April 7, 2020

Jason Spits

Retail investors have chosen to ride out the recent market downturn, but remain less than optimistic about long-term growth and government debt.

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Business News

La Trobe assists with COVID-19 treatment

April 7, 2020

Darin Tyson-Chan

Epworth Hospital has received a $1 million donation from La Trobe Financial to enable the purchase of more ICU equipment to treat individuals infected with the coronavirus.

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ATO, Documentation

ATO to tailor lodgement deferral

April 6, 2020

Darin Tyson-Chan

The ATO has revealed its compliance approach to SMSFs requiring a time extension for their annual return lodgement obligations.

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Superannuation

Bankruptcy preferable to illegal early release

April 6, 2020

Jason Spits

Trustees looking to raid their SMSFs to prop up a small business would be better off facing bankruptcy than the consequences of illegal early release, according to a legal expert.

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ASIC

SMSF property promoter jailed for 10 years

April 6, 2020

Tharshini Ashokan

Charterhill Group director George Nowak has been sentenced to 10 years’ imprisonment for aggravated deception and dishonest dealings with documents.

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Documentation, Superannuation

SMSFA seeking COVID-19 clarity

April 2, 2020

Darin Tyson-Chan

More relief measures to ease the impact of the coronavirus pandemic are being discussed between the SMSF Association and ATO.

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Administration

Coronavirus must be noted in 2019 accounts

April 2, 2020

Tharshini Ashokan

The impact of COVID-19 on fund asset values means funds that have not yet completed their accounts for the 2019 financial year are legally obliged to disclose the pandemic as a significant event in their 2019 accounts, an SMSF technical expert says.

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Investments

Asset allocations must stay true to fund strategy

April 2, 2020

Jason Spits

Trustees can make changes to their investments in response to the recent market downturn, but they should be consistent with the SMSF’s investment strategy.

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Documentation

Print trust deed until all states go electronic

April 2, 2020

Jason Spits

NSW has moved ahead of other states and territories with electronic trust deeds, but trustees should still opt for paper until the move is universal.

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