News

ETFs, Financial Planning

Adviser product set evolving

SMSF product advice

Industry research has shown the product sets recommended by SMSF advisers are changing to better suit the advice clients are seeking.

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ATO, Pensions

ATO prompts funds, members to report income streams

SMSF income streams report

SMSF members receiving a defined benefit income stream have been reminded of their reporting duties to the ATO, which has given them about a month to lodge an annual report.

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Investments

Russell launches new suite of managed accounts

Russell Investments managed accounts

Russell Investments has launched multi-asset managed accounts centred around Australian equities and matched to common investor risk profiles.

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ATO, Compliance

ATO urges caution on death benefit income streams

Death benefit income streams

SMSF death benefit income streams must satisfy minimum pension requirements in order to meet compulsory cashing requirements and remain compliant, the ATO has warned.

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Documentation, Estate Planning

Trustee dispute underlines need for deed certainty

SMSF deed power of attorney

Trustees appointed under an enduring power of attorney (EPOA) will remain in the role unless the SMSF trust deed terminates their role, meaning they can direct death benefits to any party including themselves, an SMSF legal expert has warned. Hill Legal principal and senior lawyer Chris Hill gave the warning in the wake of the […]

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ETFs, Investments

BetaShares ETF provides access to UK market

Betashares UK exchange traded fund

Australian investors will have access to large corporations listed on the London Stock Exchange via an exchange-traded fund launched by BetaShares today.

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Auditing

ATO to identify auditors who report contraventions

auditor contravention reporting

New laws to protect whistleblowers will actually identify auditors who flag problems with an SMSF to the trustees of the fund, the ATO has warned.

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ATO, Regulation

Auditor numbers misuse a red flag for ATO

SMSF auditor number misuse

The ATO has found nearly 1500 instances of potential fraud linked to the use of SMSF auditor numbers included with annual returns for the 2017 financial year.

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ATO

ATO acts on SMSFs with outstanding annual returns

smsf annual tax return

SMSFs that have failed to lodge an annual return or have been involved in illegal early-release efforts have been blocked by the ATO and will not be able to receive funds.

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Accounting

Rollover recourse important to know

SMSF rollover problems

Knowledge about recourse action in the event of delayed SMSF rollover requests is an area where advisers can add value for their clients.

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