News

Investments, Markets

Franking credit move to have little market impact

The proposed changes to franking credit rules will have a minimal impact on share market volatility as most investors will be unaffected by the changes.

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ATO

ATO flags TBAR over-reporting

Exclamation marks as warning signs against over-reporting information to ATO

SMSF trustees and their tax agents have been advised by the regulator of certain items and events that should not be included in their transfer balance account report.

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Financial Planning, Pensions

End-of-year pension planning too late

Advisers looking at pension planning for the current financial year may have left it too late and should shift it to the start of the new year.

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Superannuation, Tax

Election highlights contrast in super policies

Long held and distinct ideological positions are being presented in the superannuation and tax policies of the two major political parties.

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Financial Planning

No advice gap created by departure of ‘deadwood’

Exit sign for adviser leaving their jobs

An advice gap is unlikely to occur with the departure of some financial advisers as they were ‘non-productive’ already, a consulting firm has claimed.

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ATO

Disqualified trustee numbers decline

The ATO has released a register of about 3000 disqualified SMSF trustees, showing the level of disqualifications has continued to fall.

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Financial Planning

New video series reinforces value of advice

Advisers have been provided with a new education tool in the form of a video series to assist them with their client-facing activities.

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Strategy, Superannuation

Fund balance questions overlook pooling advantage

Small wooden figures illustrating a pool of people and fund balances in an SMSF

Concerns about member balances in SMSFs overlook the fact many funds are set up with multiple members boosting the fund balance, according to Class Super.

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ATO, Auditing

ATO outlines auditor checklist to cut re-reporting

The ATO has provided a checklist for auditors to reduce the level of re-reporting linked with transfer balance caps.

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Estate Planning, Superannuation

Court rules on injured child BDBN

A recent court ruling conferred power to an incapacitated child’s mother, authorising her to implement a binding death benefit nomination with regard to the child’s superannuation benefits.

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