News

ASIC

Poor SMSF advice sees AFSL cancelled

The Australian Securities and Investments Commission (ASIC) will cancel the Australian financial services licence (AFSL) of Austplan for failing to act in clients’ best interest in establishing SMSFs, among other deficiencies.

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Administration, Business News

New leadership at Class for next growth phase

SMSF administration software provider Class has announced its chief executive, Kevin Bungard, will step down from his role by mutual agreement with the board.

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Administration, ATO, Regulation

TBAR just the start of SMSF automation journey

SMSF practitioners must acknowledge the inevitability of the transfer balance account report (TBAR) regime moving to full, automated online reporting for the sector and what this will mean for their businesses.

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Practice Management

Service providers should flip perspective

SMSF service providers need to take a different view on how they service customers from the common approach of using product as the starting point, according to a research executive.

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LICs, Portfolio Construction

Fund managers join hands for charitable LIC

Australian fund managers have come together to announce the opening of an initial public offering (IPO) for a new listed investment company (LIC) that offers investors global stocks and supports medical research institutes.

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ATO, Strategy

ATO reserves position contrary to law

The ATO’s current stance on the elimination of some existing reserves runs contrary to the law and may result in SMSF trustees having to set up an accumulation account to ensure compliance in this area, a technical expert has said.

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Education, ETFs

Vanguard launches global ETF research centre

Vanguard has established a dedicated research centre and team to address critical global exchange-traded fund (ETF) issues and to produce topical and insightful perspectives to investors, regulators and influencers.

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Financial Planning, Retirement, Strategy

Downsizer measure tops adviser queries

The new downsizer contribution, allowing clients to top up their super from the proceeds of the sale of their home, has come out as the number one adviser query in the September quarter, BT Financial Group’s (BTFG) technical team has said.

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ETFs

BetaShares unveils global income ETF

BetaShares has launched its Global Income Leaders ETF, providing SMSF investors with exposure to a diversified portfolio of 100 companies, ex-Australia.

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ATO

Non-lodgers in ATO sights

With 40,000 SMSFs failing to meet their lodgement obligations, cracking down on non-lodgers remains a key activity for the ATO.

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