News

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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Estate Planning, Succession Planning

SMSF succession plan hangs on correct reading of deed

SMSF succession plan deed

SMSF succession plans need to start with an examination of the deed, as well as later changes, to ensure the plan can be made operative in the future, an SMSF expert has advised.

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Residential Property

Joint property ownership opens asset loss risk

SMSF joint property ownership

Trustees need to be aware of the issues that can arise when their SMSF owns less than the whole interest in a property, a specialist legal firm says.

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Investments

Directly held shares dominant with SMSFs

Directly held Australian shares SMSF

A specialist administration software firm’s statistics have confirmed the popularity of Australian shares among SMSF investors.

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Regulation

Regulation uncertainty to escalate adviser struggles

financial advisers regulatory uncertainty

The latest sector research shows advisers expect the challenge of regulatory uncertainty to increase when it comes to servicing SMSF clients.

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