News

ASIC

ASIC revokes authorisations of ‘doubly registered’ licensees

Fifty eight licensees who were authorised with another licensee have fallen foul of ASIC which has revoked their authorisations.

read more
ATO, Compliance

Care needed over contribution refunds

POpening wallet to pay a refund

Following the prescribed legal manner as to how to refund a contribution made or accepted in error is critical from a compliance perspective.

read more
Administration, ATO

ATO updates guidance on fund error disclosure

The ATO has requested that funds making voluntary disclosures over errors disclose how they may have occurred, who was responsible and what had been done to tackle the problem.

read more
Investments, Markets

Franking credit move to have little market impact

The proposed changes to franking credit rules will have a minimal impact on share market volatility as most investors will be unaffected by the changes.

read more
ATO

ATO flags TBAR over-reporting

Exclamation marks as warning signs against over-reporting information to ATO

SMSF trustees and their tax agents have been advised by the regulator of certain items and events that should not be included in their transfer balance account report.

read more
Financial Planning, Pensions

End-of-year pension planning too late

Advisers looking at pension planning for the current financial year may have left it too late and should shift it to the start of the new year.

read more
Superannuation, Tax

Election highlights contrast in super policies

Long held and distinct ideological positions are being presented in the superannuation and tax policies of the two major political parties.

read more
Financial Planning

No advice gap created by departure of ‘deadwood’

Exit sign for adviser leaving their jobs

An advice gap is unlikely to occur with the departure of some financial advisers as they were ‘non-productive’ already, a consulting firm has claimed.

read more
ATO

Disqualified trustee numbers decline

The ATO has released a register of about 3000 disqualified SMSF trustees, showing the level of disqualifications has continued to fall.

read more
Financial Planning

New video series reinforces value of advice

Advisers have been provided with a new education tool in the form of a video series to assist them with their client-facing activities.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.