News

Auditing, Financial Planning

Advisers key to auditor independence

Advisers key to auditor independence

Auditor independence is essential to fund compliance and should be prioritised by advisers on behalf of their SMSF clients, a legal expert says.

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ASIC, Superannuation

ASIC takes action over unlicensed SMSF scheme

ASIC unlicensed scheme

ASIC has taken action against a former Melbourne adviser over an unlicensed investment scheme that used SMSFs to secure funds.

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Accounting, Superannuation

TSB key to catch-up contribution benefits

TSB catch-up contributions

Accountants will need to keep a greater watch on Total Super Balances (TSB) to make the most of new catch-up contributions, but will be assisted by ATO data.

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ETFs

One-third of ETF inflows still from SMSFs

ETF inflows SMSFs

Investment in exchange-traded funds held by SMSFs has remained steady recently, according to the latest industry analysis.

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Property, Superannuation

Source of downsizer contributions questioned

Source of downsizer contributions

Questions have been raised about the source of downsizer contributions, with suggestions other funds have been used to take advantage of lower tax rates.

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ATO, Superannuation

TBC indexation poses new complications

TBC indexation

The indexation of the general transfer balance cap, which could occur in mid-2020, will result in a higher level of complexity for trustees to contend with, an SMSF expert says.

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Retirement, Superannuation

Retirement review looking beyond remit

Retirement Income Review

The Retirement Income Review may cover more ground than its remit, based on the questions asked in its recently released consultation paper.

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ETFs

ETF capital volume shows sector weakness

ETF volume capital

The volume of capital allocated to exchange-traded funds is making some negative characteristics of these investment vehicles more of a concern, a fund manager has said.

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Accounting, Financial Planning

Govt minister supports accountants advice push

accountants advice SMSFs

The push for accountants to be allowed to provide incidental advice on SMSFs has received support from a senior government minister.

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Accounting, Financial Planning

SMSFA confirms licensing discussions

SMSFA licensing

The SMSF Association has confirmed it is taking part in discussions with accounting and advice bodies to reduce complexity in the adviser licensing regime.

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