News

Retirement, Superannuation

Inflation pushing retirees to work longer

Inflation Cost-of-living Retirement

Retirees are choosing to stay in the workforce longer and postpone their retirement plans due to record rises in cost-of-living expenses.

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Education, Investments

An avenue for intergenerational assistance

Education bond SMSF

There is a sound avenue worthy of consideration that will allow retirees to provide financial assistance for the education of subsequent generations.

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Death benefits, Pensions, SMSF

Death options not mutually exclusive

BDBN Reversionary pension Death benefit pension SMSF Professionals Day 2024

Trustees do not have to choose between implementing a BDBN or reversionary pension to achieve their desired estate planning outcomes.

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Administration, Compliance, SMSF

Divorce breaks asset transfer limits

Divorce SMSF Wind-up SIS Act Assets Trust deed

Trustees winding-up a fund should be aware there are limited circumstances when assets can be transferred to a related party but these fall away in the event of divorce.

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financial advice, Investments, Regulation

Wholesale tests revision essential

wholesale investor test wholesale client test indexation accountant’s certificates SMSF Association Chartered Accountants Australia and New Zealand CPA Australia Institute of Public Accountants

Any increase to the wholesale investor tests must include indexation to keep them current, but accountants’ certificates should be removed as they are no longer fit for purpose.

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Legislation, Pensions, SMSF, Tax

Div 296 to worsen legacy pensions

Legacy pensions Division 296 tax Defined benefit pension SMSF Professionals Day 2024

The proposed Division 296 tax should have led to the inclusion of a measure in the 2024 federal budget allowing legacy pensions to be scrapped.

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financial advice, Financial Planning, SMSF

Online advice driving new set-ups

New SMSF trustees are shunning traditional sources of advice when setting up a new fund, choosing to rely on online information and word of mouth.

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ATO, SMSF

Middle-to-higher incomes boosting SMSF growth

ATO SMSF Fund Establishments Asset allocations SMSF quarterly fund statistics

The March quarter saw more men and women with higher incomes establishing SMSFs, potentially reversing a trend of lower-income investors setting up funds.

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ASIC, financial advice, Regulation

Advisers must self-declare experience status

Financial advisers ASIC Experienced provider pathway

Financial advisers must self-declare their status as an experienced provider to use that qualification pathway to continue providing advice from the start of next year.

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ETFs, Investments

Fidelity expands active ETF range

ETF Fidelity

Fidelity International is set to add four new active ETFs to its product suite focusing on growth areas in Australia and Asia.

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