News

Auditing

Audit change weakens women’s super

A survey of SMSF professionals has revealed a change to triennial audits could compromise the protection of vulnerable trustees’ super retirement benefits.

read more
ASIC

ASIC approves AFCA rules

The Australian Securities and Investments Commission (ASIC) has approved the Australian Financial Complaints Authority (AFCA) complaint resolution scheme rules and the terms of reference of the AFCA independent assessor (IA).

read more
Compliance, Regulation

Put clients on notice with NALI

Advisers with SMSF clients who do not use a real estate agent may run into issues with non-arm’s-length income (NALI) due to the lack of clarification in a bill currently before Parliament and therefore must inform clients of this possibility, an industry lawyer has warned.

read more
Management

Corporate trustee key for loss of capacity

Establishing a corporate trustee SMSF may be optimal in avoiding complexities in cases of loss of capacity of trustees, according to a lawyer.

read more
Retirement, Superannuation

Australians feel big retirement savings needed

The latest industry research into attitudes on retirement, conducted by Rice Warner and commissioned by ING Australia, has revealed individuals from generations X, Y and Z believe they will need between $1.5 million and $1.75 million in savings to fund their retirement, but do not know how to go about achieving it.

read more
Auditing

Strategy for SMSF audits needs review

Practitioners must carefully consider the future of their SMSF audit proposition in light of the proposed triennial audit cycle and the continuing developments in audit platforms and technology, according to a professional services consultancy.

read more
Financial Planning, Portfolio Construction

Technology to drive managed accounts growth

The managed accounts segment will almost double in two years, with technology to drive innovation in the sector, according to Hub24.

read more
ETFs, Investments

Offshore investment trades rise: report

During the first half of the year, SMSFs increased their international share trades by 30 per cent, demonstrating their continued appetite to expand offshore investments, the latest CommSec “SMSF Trading Trends Report” has found.

read more
Compliance, Property, Strategy

ATO to keep close tabs on property sole purpose

There may be no general prohibition against SMSFs investing in property development, but given the regulatory rules, it is very difficult for SMSFs to maintain compliance, a lawyer has warned.

read more
Strategy

Franking credit benefit from excess contributions

Advisers should consider a strategy of having SMSF clients deliberately exceed both their concessional and non-concessional contributions caps to ensure the effective use of any franking credits available to the fund, a strategy specialist has said.

read more

Copyright © SMS Magazine 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital