News

Accounting, Financial Planning

Accountants not solution for financial advice gap

accountants financial advice gap

Accountants are unlikely to complete further education to step into the financial advice sector as its revenues decline and practitioners leave.

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Regulation, Superannuation

SMSF Association calls for residency test review

SMSF residency test

The residency test for SMSFs is a rule the SMSF Association will be encouraging the government to amend due to some resulting poor outcomes for superannuants.

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Residential Property, Tax

Jurisdiction will set foreign purchaser tax position

Foreign purchaser duty SMSF

Advisers should pay attention to how the application of foreign purchaser duty to SMSFs differs between jurisdictions, an SMSF legal firm says.

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Retirement

AMP upgrades platform retirement tool

AMP upgrades retirement tool

AMP has upgraded its Retirement Modelling Tool adding hundreds of combinations of investments and 2000 stressed tested retirement strategies.

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Accounting, Tax

Treasury puts accountants’ exemption back on table

Treasury accountants exemption

A Treasury discussion paper has flagged allowing accountants to provide basic SMSF advice without being licensed and moving financial planners from under the tax licensing regime.

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ASIC, Financial Planning

ASIC bans SMSF adviser for dishonest loans

ASIC bans SMSF adviser

A former Victorian SMSF adviser has been banned by ASIC after it found he had borrowed money from clients’ accounts and had breached a range of financial services laws.

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Financial Planning

Never good time to stop grandfathered commissions

advisers grandfathered commissions

Advisers most affected by the removal of grandfathered commissions will never agree there is a good time to implement the measure.

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Property

Victorian govt tightens grip on SMSF duty exemptions

Victorian SMSF duty exemptions

The Victorian State Revenue Office is drawing a hard line on the duty exemptions available to beneficiaries of SMSF-owned properties, DBA Lawyers says.

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Investments, Property, Superannuation

Making SMSF investments via unit trusts

SMSF investments unit trusts

A unit trust is a popular structure for holding property and other investments and this article examines numerous methods of how an SMSF may invest in a range of unit trusts. Multiple unitholders Many publicly offered managed investment funds are structured as unit trusts to allow multiple investors to invest in a diversified investment portfolio. […]

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Financial Planning

Challenging times not deterring advisers

number of financial advisers

The anticipated reduction in financial adviser numbers is less significant than predicted, a recent survey has shown.

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