News

Investments, Markets

Franking credits hit record levels

Strong market returns and special dividends have pushed franking credits to a record level.

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Investments, Markets

SMSFs under pressure to register for OTC activity

SMSFs using over-the-counter investment instruments have less than three weeks to secure a new fund identification code that will allow their continued use after 1 April.

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Investments, LICs

Metrics launches credit LIT

A listed investment trust has been launched offering an avenue to invest in private credit assets.

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Strategy, Tax

Allowance a more solid link to dependency

A sector expert has suggested the payment of an allowance as opposed to specific expenses is a more prudent method of establishing financial dependency and the associated favourable tax treatment in the event of an SMSF death benefit being paid.

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Pensions, Strategy

Pension phase may become redundant

Should the Labor Party’s change to the franking credit system be introduced as law, it may no longer be beneficial to have an SMSF that is purely in pension phase, a sector specialist has said.

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ASIC, Auditing

ASIC sanctions several SMSF auditors

ASIC has handed penalties to several SMSF auditors for failing to meet their professional requirements.

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Strategy, Superannuation

Advisers seeking more information on early access

Access to superannuation benefits was a key issue for financial advisers during February, according to AMP.

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Insurance, Superannuation

SMSF members warned about life insurance opt-in changes

SMSF members with life insurance within APRA-regulated funds have been warned they may lose it if they fail to opt-in to cover under new legislative changes.

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Documentation, Tax

Testamentary discretionary trust death benefit bonus

SMSF death benefits can be better protected from external threats and receive more favourable tax treatment with the use of a testamentary discretionary trust.

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ATO, Property, Superannuation

ATO provides tips on FHSSS forms

The ATO has offered tips for fund members who are required to complete the First Home Super Saver Scheme release authorities.

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