News

Appointments

Meg Heffron appointed MD

SMSF solutions provider Heffron has announced a transition in its leadership.

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Superannuation, Tax

Franking credits refund ban to still begin from 1 July

tax impact; franking credits

The abolition of franking credit refunds would begin from 1 July 2019 under a Labor Government, regardless of whether the required legislation was passed.

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Superannuation

Attacks on SMSFs ignore behavioural fundamentals

An online investment marketplace provider has stated the appeal of SMSFs to fundamental elements of human behaviour is being ignored in the arguments against them.

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Superannuation, Tax

Franking credit removal will create two SMSF classes

The removal of franking credit refunds will divide SMSFs into two classes based on which funds are able to continue to claim them into the future.

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Retirement, Superannuation

ASFA calls for SG rise from this year onward

ASFA has called for the SG rate to begin moving to 12 per cent after this year’s budget if there are indications of a future surplus.

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ASIC, Financial Planning

Consumers misunderstand types of advice

Consumers have a poor understanding of the difference between general financial advice and personal financial advice, according to new research conducted for ASIC.

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Administration, ATO

ATO to speed up establishment procedure

The time lag from when an SMSF is established to when it is able to receive contributions is going to be significantly shortened.

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Superannuation

Senate Committee divided on bill to lift SMSF member limit

A proposal to allow SMSFs to have six members has received support from a Senate committee despite calls from its ALP members to block the move.

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Education

CPD plan deadline looms

Advisers will not be required to complete a year’s worth of CPD by the end of June, but still must have a plan in place by the end of this month.

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Accounting, Financial Planning

IPA flags licence offering to help fill advice gap

The IPA is developing a licensing regime to help advisers make the shift into providing financial advice.

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