News

Appointments, Superannuation

New super minister adds sector experience to role

The second Morrison ministry will feature a new face with 20 years’ experience in the financial services arena to oversee the superannuation sector.

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ETFs

First actively managed ESG ETF opens to investors

A new actively managed ETF aims to give investors the opportunity to invest in stocks that have a positive impact on society and the environment.

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Investments

Franking credit campaign was not political

Australian Parliament House, Canberra, ACT.

The head of Wilson Asset Management has told shareholders the fund manager’s campaign against a ban on franking credit refunds was not politically motivated.

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Pensions

BDBNs dangerous territory for advisers

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Advisers making changes to BDBNs or reversionary pensions may be engaging in legal work that could negatively impact on them and their clients.

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Regulation, Superannuation

SMSF changes must be aligned to super objective

Further changes to SMSFs need to be assessed against the objective of superannuation to avoid further instability being added to the sector.

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Education

FASEA begins assessing foreign qualifications

FASEA will begin assessing university qualification attained overseas, taking around two weeks to inform advisers if they meet the new education standards.

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Retirement, Tax

Tax impact of franking credits remains unaddressed

tax impact; franking credits

The impact of franking credit refunds on the wider tax base has yet to be addressed, despite refunds featuring prominently in the recent federal election.

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ATO

ATO pushes trustees’ valuation responsibilities

The ATO will accept asset valuations from trustees but has reminded them of their responsibilities in accurately sourcing that information.

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Retirement, Superannuation

Retirement strategy an advice value-add

An SMSF strategist has labelled making use of the retirement provisions in the Superannuation Industry (Supervision) Act a very important strategic element of an adviser’s value proposition.

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LRBA, Property

LRBAs to bounce back after election

limited recourse borrowing arrangements; LRBA; Grant Abbott

The use of limited recourse borrowing arrangements has been predicted to rebound in the coming months, driven by government support and lower property prices.

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