News

Retirement, Superannuation

No negative retirement changes

superannuation changes negative SISFA

Any changes to the superannuation and retirement saving system should lead to no negative consequences for consumers, according to SISFA.

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ASIC

ASIC permanently bans Sydney SMSF adviser

Sydney-based financial adviser

ASIC has permanently banned a Sydney-based SMSF adviser after she was found guilty of misappropriating money from clients’ funds.

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Compliance, Regulation

System fine without active member test

Active member test

The active member test for overseas SMSF trustees would become irrelevant if the current approach to rollovers and personal contributions was improved, an SMSF expert says.

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Retirement

Retirement facts before fixes

Retirement Income SISFA

Information collected by the Retirement Income Review should not be used to shore up current problems but improve the system for the long-term, claims SISFA

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Education

Partnership delivers new CPD courses

New CPD courses

Western Sydney University School of Business and online education provider OpenLearning have combined forces to produce a new suite of continuing professional development courses for the financial services sector.

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Financial Planning, Regulation

Recommendations will alter fee arrangements

Royal commission recommendations

The next round of Hayne royal commission recommendations to be implemented may alter the frequency with which advisers get approval for their fee arrangements.

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ATO

TBC indexation not for 2020

Transfer balance cap indexation

The ATO has announced indexation of the general TBC will not go ahead in July and also reminded trustees investing in property of their GST obligations.

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Financial Planning

Plea for AMP planner mediation

Financial planning mediation

A call has been made by the Australian Small Business and Family Enterprise Ombudsman for AMP to commit to mediation regarding the removal of up to 250 financial planning practices from its advisory network.

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Education

New SMSFA education program

SMSF Association education program

The SMSF Association has launched an accredited educators program in response to member feedback naming three organisations as approved education providers.

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Investments

Capital protection a priority

capital protection

Capital protection is one of the most important goals for investors who currently hold a pessismistic view of the stock market, a new survey has shown.

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