News

ASIC, Compliance, financial advice, Financial Planning

Further Shield adviser action sought

ASIC is looking to pursue further action against an adviser involved in the failed First Guardian and Shield master funds.

ASIC is looking to pursue further action against an adviser involved in the failed First Guardian and Shield master funds.

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financial advice, Financial Planning, Investments

Wealth management inquiry dumped

The FAAA will pursue other avenues of government investigation into financial product collapses after the inquiry into wealth management firms was scrapped.

The FAAA will pursue other avenues of government investigation into financial product collapses after the inquiry into wealth management firms was scrapped.

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Retirement, SMSF

Retirement may cause illegal access

SMSF members must understand what it means to retire under superannuation law to avoid illegally accessing their retirement benefits.

SMSF members must understand what it means to retire under superannuation law to avoid illegally accessing their retirement benefits.

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ATO, Compliance, Documentation

ATO focused on late returns, early access

SMSFs with outstanding annual returns will come under greater scrutiny from the ATO, which is concerned by a rise in late lodgements.

SMSFs with outstanding annual returns will come under greater scrutiny from the ATO, which is concerned by a rise in late lodgements.

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financial advice, Financial Planning

Study reveals the value advice adds

The latest analysis and report into advice has quantified how much value practitioners add to their clients’ financial circumstances.

The latest analysis and report into advice has quantified how much value practitioners add to their clients’ financial circumstances.

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ASIC, Compliance, financial advice, Financial Planning

ASIC cancels licence over Shield advice

ASIC has cancelled an advice firm’s licence and banned two senior staff for recommending clients move super into the Shield Master Fund.

ASIC has cancelled an advice firm’s licence and banned two senior staff for recommending clients move super into the Shield Master Fund.

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Division 296, SMSF, Tax

Interest charge for super tax deferrals

The deferral of a Division 296 tax liability will incur a penalty charge consisting of a base interest rate plus 3 per cent.

The deferral of a Division 296 tax liability will incur a penalty charge consisting of a base interest rate plus 3 per cent.

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Investments

Relationship status key to share purchases

Understanding the relationship between parties in an unlisted share transaction is critical in ensuring that acquisition can proceed.

Understanding the relationship between parties in an unlisted share transaction is critical in ensuring that acquisition can proceed.

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ATO, Compliance, Superannuation

Compassionate release warning welcomed

ATO warnings about misusing early access to super for medical procedures must be backed by bans on advertising and the involvement of third-party promoters.

ATO warnings about misusing early access to super for medical procedures must be backed by bans on advertising and the involvement of third-party promoters.

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ASIC, Compliance, Regulation

ASIC restructure netting results

The number of investigations and civil proceedings has increased significantly after a revamp of the staff structure within ASIC.

The number of investigations and civil proceedings has increased significantly after a revamp of the staff structure within ASIC.

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