News

Regulation, Retirement

Govt broadens work test exemption

The federal government will allow people entering into retirement to make up to $300,000 in non-concessional contributions as a result of a change to the work test exemption.

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Retirement

Common SMSF concerns dismissed

The sustainability of the SMSF sector will not be threatened by theories about funds being established by non-suitable individuals, according to the head of a research consultancy business.

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Investments, Platforms

Capital-protected fund pitched at retirees

A Brisbane-based boutique manager has opened a new capital-protected equities fund pitched at the pre and post-retirement sector.

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Accounting, ATO, Auditing

ATO to release banned SMSF trustee register

SMSF; review; industry fund

The names of banned SMSF trustees will be made more accessible to advisers and the public via a new register from the ATO.

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Compliance, Education, Regulation

FASEA ethics will overrule licensee obligations

Advisers will be required to consider client best interests ahead of licensee obligations when making ethical decisions.

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Regulation, Retirement, Superannuation

Fatigue to blame for lack of super objective

Fatigue ultimately defeated the government and super sector’s efforts to enshrine the objective of super in legislation, an industry group head of policy has said.

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Education, Regulation

FASEA to help advisers map out education pathways

Advisers will be able to ask FASEA to match their past education with the most suitable education pathway under a new service to be launched by the authority.

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Financial Planning, Retirement

Retirement funding models ignoring aged-care costs

With clients living longer, advisers have been urged to consider helping clients fund the cost of care in the later years of retirement.

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ATO, Retirement, Superannuation

Definition of contribution remains vague

There is no concrete definition of the term contribution in super law and income tax law, which can be problematic for clients.

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Accounting, Administration, Pensions

Legacy pensions require further attention

SMSF administrators and actuarial experts say they still see legacy pensions, such as defined benefit pensions, in SMSFs.

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