News

Regulation, Superannuation

SMSFA rejects sector inquiry call

Sign reading caution as warning on use of corporate trustee stuctures in SMSFs

The Australian Council of Trade Unions’ call for an inquiry into SMSFs has been labelled totally unwarranted by the sector’s peak body.

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ETFs, Investments

Diversification driving SMSF ETF usage

A means of diversification is the top reason as to why SMSF trustees invest in exchange-traded funds, a new research report has indicated.

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Accounting, ATO, Documentation

Accountants should use peers for SMSF paperwork

Accountants should consider using their peers to produce financial statements for their own SMSFs to avoid raising flags with the ATO.

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Investments, Markets

Franking credits hit record levels

Strong market returns and special dividends have pushed franking credits to a record level.

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Investments, Markets

SMSFs under pressure to register for OTC activity

SMSFs using over-the-counter investment instruments have less than three weeks to secure a new fund identification code that will allow their continued use after 1 April.

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Investments, LICs

Metrics launches credit LIT

A listed investment trust has been launched offering an avenue to invest in private credit assets.

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Strategy, Tax

Allowance a more solid link to dependency

A sector expert has suggested the payment of an allowance as opposed to specific expenses is a more prudent method of establishing financial dependency and the associated favourable tax treatment in the event of an SMSF death benefit being paid.

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Pensions, Strategy

Pension phase may become redundant

Should the Labor Party’s change to the franking credit system be introduced as law, it may no longer be beneficial to have an SMSF that is purely in pension phase, a sector specialist has said.

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ASIC, Auditing

ASIC sanctions several SMSF auditors

ASIC has handed penalties to several SMSF auditors for failing to meet their professional requirements.

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Strategy, Superannuation

Advisers seeking more information on early access

Access to superannuation benefits was a key issue for financial advisers during February, according to AMP.

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