News

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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Education, FASEA

FASEA releases list of latest approved courses

FASEA approved courses

The draft 2019 determination of FASEA-approved courses has been released, including the latest qualifications to be approved by the education authority since the 2018 determination was registered.

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FASEA, Financial Planning

AFCA cautious on FASEA Code of Ethics

Australian Financial Complaints Authority

AFCA has announced it will take into account ASIC’s facilitated compliance approach to FASEA’s Code of Ethics when applying the new code to adviser conduct from January.

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FASEA, Financial Planning

Code of ethics must be viewed in full

FASEA code of ethics

A senior consultant has advised practitioners they must look at the Financial Adviser Standards and Ethics Authority (FASEA) Code of Ethics as a whole when determining their compliance procedures in relation to it.

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Accounting, Financial Planning, Superannuation

Advice bodies join accountant licensing discussion

accountant licensing SMSF advice

The major accounting and advice bodies have entered into joint discussions on reforming the licensing regime for financial advice related to SMSFs, according to the Institute of Public Accountants.

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ATO, Superannuation

Personal use provisions can address NALE costs

personal use NALE

Existing tax rules around the private use of business resources could offer a simple solution to non-arm’s-length expenses inside an SMSF.

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