News

Pensions, Superannuation

Overdue super and pensions review welcomed

Calls by the Treasurer for a review of the retirement income system have been welcomed, but such a probe has been labelled as overdue.

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Property, Superannuation

Super contributions better option than negative gearing

Concessional contributions into super are lower risk than negative gearing into property, despite many investors favouring the latter strategy.

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Superannuation

SMSF assets approach $750b mark

SMSF assets grew by 4.5 per cent in the year to the March quarter, coming close to hitting $750 billion, according to the latest APRA statistics.

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ATO, Superannuation

ATO protects $45m of super this year

SMSF; review; industry fund

In the current financial year, the ATO has protected $45 million in superannuation benefits due to its compliance and enforcement activities.

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LRBA

Adviser interest in LRBAs rebounds

Interest in LRBAs for SMSFs has been high following the coalition’s election win, with one broker predicting the return of banks to the lending market.

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ASIC, Regulation

Licence applicants face difficulties on PI cover

Advice licence applicants are facing trouble in getting approved due to difficulties in securing PI insurance, according to a financial services legal firm.

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Auditing, Investments

Unlisted assets attract greater audit scrutiny

Unlisted assets in an SMSF are more likely to lead to a qualified audit following growing concerns around their valuations.

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Accounting, Financial Planning

Accountants, planners team up to expand SMSF offering

Accountants teaming with planners to expand SMSF offering

The number of accountants working with financial planners to boost their SMSF value proposition has climbed as trustees focus on advice expertise.

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Retirement

Cost of living for retirees remains stable

The cost of living for retirees shifted only marginally in the March quarter despite significant price rises for medical expenses and food, according to ASFA.

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Documentation, Strategy

Wording can undermine BDBN

The wording of a binding death benefit nomination is paramount in determining its efficacy, a specialist lawyer has said.

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