News

Estate planning ripe for accountant involvement

July 23, 2019

SMSF accountants should consider offering estate planning services to clients as few other groups are currently meeting their need for advice.

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ASIC, Auditing

ASIC disqualifies auditors in crackdown

July 22, 2019

Jason Spits

ASIC has moved against 17 SMSF auditors, disqualifying some and placing additional conditions on others following concerns they were not meeting professional obligations.

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Accounting, Education, FASEA

FASEA exam offers licensing window for accountants

July 22, 2019

Jason Spits

Accountants who are not licensed to provide SMSF advice should complete the FASEA exam to prevent having to requalify from scratch in the future.

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Administration, ATO

ATO addresses ineligible downsizer contributions

July 22, 2019

Tharshini Ashokan

The ATO has highlighted the correct administration process for ineligible downsizer contributions for SMSF trustees.

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Financial Planning, Investments

Investment decisions challenging trustees the most

July 22, 2019

Darin Tyson-Chan

Choosing specific assets and investments is the most difficult decision trustees face in running their SMSF, research has shown.

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Education, FASEA

FASEA approves CPA, CAANZ education credits

July 18, 2019

Tharshini Ashokan

FASEA has confirmed coursework related to professional accounting designations will count towards its mandatory education standards for financial advisers.

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ETFs, Financial Planning

Adviser product set evolving

July 18, 2019

Darin Tyson-Chan

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

July 18, 2019

Jason Spits

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

July 18, 2019

Jason Spits

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

July 17, 2019

Tharshini Ashokan

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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