News

Education, financial advice, Financial Planning

New adviser pathway expanded further

The pathway for new entrants into financial advice will be expanded to include anyone with a bachelor’s degree after they have completed core units of study related to the sector.

The pathway for new entrants into financial advice will be expanded to include anyone with a bachelor’s degree after they have completed core units of study related to the sector.

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Education, financial advice, Financial Planning

Education changes welcomed

Government plans to allow more people to become advisers have been generally welcomed as a departure from a flawed model that prevented growth of the sector.

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ATO, Auditing, SMSF

Auditor numbers looking healthier

SMSF auditors

The number of registered auditors in the SMSF industry has improved after several years of depletion that affected this cohort.

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Education, SMSF

Lift SMSF education standard

The education standard needed to provide SMSF advice should be raised to prevent poor advice and push out unqualified providers.

The education standard needed to provide SMSF advice should be raised to prevent poor advice and push out unqualified providers.

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Superannuation, Tax

Div 296 delay shows support uncertain

Division 296 tax Senate Crossbench SMSF Association Peter Burgess $3 million super cap bill credit card and debit card surcharges unrealised capital gains

The absence of the Division 296 bill in the current proceedings of the Senate indicates the government lacks the support to pass it and is working to convince crossbenchers.

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Administration, Trusts

Corporate trustee no longer costly

corporate trustee, SMSF, Self-managed superannuation, Cost, fee, Australian Securities and Investments Commission, Accurium, Matthew Richardson, special purpose company

Setting up a special purpose company to act as trustee for an SMSF is no longer as costly as it once was with regard to ASIC fees.

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ATO, Investments, SMSF

SMSF sector returns exceed 10 per cent

ATO SMSF SMSF sector statistical overview return on assets fund balances earnings returns

Returns across the SMSF sector were above 10 per cent during the 2023 financial year, reinforcing its competitiveness with APRA-regulated funds.

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Compliance, financial advice, Financial Planning, Regulation

CSLR review extension disappointing

Financial Advice Association of Australia, FAAA, Division 296, Upper House, Parliament, Philip Anderson, Senate, Better Targeted Super Concession Bill,

An extension to the inquiry into the operations of the Compensation Scheme of Last Resort is frustrating, given advisers need clarity on how it will impact their businesses.

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SMSF, Trusts

Corporate trustee shareholders key

SMSF Self-managed superannuation corporate trustee company directors company shareholders Accurium Mark Ellem estate planning

Practitioners need to act with caution when appointing the shareholders of the SMSF corporate trustee company in the absence of any relevant rules.

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Tax

Senate must deny Div 296 passage

Australian senators should end the progress of the Division 296 tax bill, which may result in people having to borrow to pay the impost on super fund members.

Australian senators should end the progress of the Division 296 tax bill, which may result in people having to borrow to pay the impost on super fund members.

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