News

Regulation, Superannuation

Super sector will be reformed despite fund inertia

superannuation reform member interests

The superannuation sector needs to move past the sacred cows of its origins and serve the interest of members or run foul of the reform agenda of the federal government.

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ATO, Pensions

Better to claim ECPI after discretion application

ATO ECPI discretion application

A technical services manager has shared a successful approach to applying for ATO discretion to claim exempt current pension income when a minimum pension has not been met.

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ATO, Investments

ATO probe no cause for alarm

SMSF investment diversification

Trustees should not rush to change their investment strategies as a result of the ATO’s expected probe into the diversification requirements of nearly 18,000 SMSFs, an SMSF expert has said.

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Education, FASEA

FASEA recognises older CFP coursework

FASEA CFP coursework

The Financial Adviser Standards and Ethics Authority (FASEA) has awarded two recognition of prior learning (RPL) credits for advisers who completed the certified financial planner (CFP) program coursework prior to 2004. FASEA stated it had approved an application from the Financial Planning Association (FPA) to recognise the coursework required to attain the ‘historical’ CFP designation. […]

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Documentation, Estate Planning

Adviser support key to managing member incapacity

member incapacity support

Member incapacity is likely to grow and advisers should find innovative ways to provide support to ensure the continued smooth running of SMSFs.

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Accounting

Accountants could miss huge SMSF opportunity

accountants overlooking SMSF opportunity

While demand for financial advice from accountants is on the rise, recent research has shown this professional group is largely ignoring this trend.

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Compliance, Regulation

AFCA given power to name dispute firms

AFCA name and shame

The industry-wide dispute resolution body will be able to ‘name and shame’ financial services firms under new powers granted to it by ASIC.

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Superannuation

SMSFs a top 10 advice motivator

SMSFs top 10 advice

Advice regarding SMSFs has ranked among the top 10 most popular reasons for Australians to seek financial planning services, a new Australian Securities and Investments Commission report has shown.

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Retirement

Single issue focus on retirement income lacks context

retirement income

The retirement income stream does need to be reviewed in its entirety, but focusing on single issues is misleading, according to a superannuation research group.

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Pensions

Pension income bonus from deeming rates

pension income deeming rates

The government’s decision to reduce deeming rates will see part-pensioners increase their income, according to analysis performed by AMP.

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