News

Investments

LICs/LITs must adapt to new ban

Listed investment

LICAT has flagged the significance of the stamping fee ban for listed investment companies (LIC) and listed investment trust (LIT) and its impact on the industry.

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ATO, LRBA

ATO broadens LRBA strategies

LRBA strategies

Limited recourse borrowing arrangements can now legally be structured in more ways due to an instrument released by the ATO.

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Documentation, Investments

LEI costs reduced for SMSFs

SMSFs LEI

SMSFs that trade in foreign currency and derivatives can reduce their cost and administration requirements through a new multi-year identification renewal offer.

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Investments, Retirement

COVID-19 downturn not the same as GFC

COVID-19 downturn

Recent growth in investment markets after COVID-19 driven downturn is not the same as after the GFC and is obscuring increasing levels of government debt.

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LRBA

Loan relief not an opportunity

LRBA loan relief

Individuals should think carefully about entering into a new related-party limited recourse borrowing arrangement to benefit from the COVID-19 loan relief provisions, a technical manager has warned.

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FASEA

Common theme to FASEA feedback

FASEA requirements

The educational requirements under the FASEA framework have been labelled impractical for members of the Stockbrokers and Financial Advisers Association.

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Regulation

Six members still on table, ECPI move delayed

Six member SMSFs

Six-member SMSFs are still on the table for the government, which has reduced the time in which they can be introduced once legislation is passed.

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ATO, Superannuation

SMSF sector grows, new fund numbers drop

SMSF sector growth

The SMSF sector has continued to grow despite a drop in the number of new funds in the December quarter 2019, the latest ATO statistical report shows.

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Documentation

Nationwide e-document model should be kept

electronic documents

The nationwide approach to the electronic execution of documents should be retained but state based irregularities must be removed, according to a peak law body.

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Education, FASEA

FASEA challenged on complaints

FASEA complaints

The chair of a parliamentary committee has highlighted concerns across the financial advice sector regarding FASEA processes and its lack of accountability.

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