News

Compliance, Regulation

AFCA given power to name dispute firms

AFCA name and shame

The industry-wide dispute resolution body will be able to ‘name and shame’ financial services firms under new powers granted to it by ASIC.

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Superannuation

SMSFs a top 10 advice motivator

SMSFs top 10 advice

Advice regarding SMSFs has ranked among the top 10 most popular reasons for Australians to seek financial planning services, a new Australian Securities and Investments Commission report has shown.

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Retirement

Single issue focus on retirement income lacks context

retirement income

The retirement income stream does need to be reviewed in its entirety, but focusing on single issues is misleading, according to a superannuation research group.

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Pensions

Pension income bonus from deeming rates

pension income deeming rates

The government’s decision to reduce deeming rates will see part-pensioners increase their income, according to analysis performed by AMP.

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Retirement

Home equity release product adds lump sum facility

home equity lump sum

Specialist funding provider Household Capital has launched a new drawdown loan facility providing retirees with a lump sum and income stream component.

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Business News

Best SMSF service providers for 2019 awarded

SMSF service providers awarded

The leading service providers to SMSF advisers have been named by selfmanagedsuper for the seventh consecutive year.

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ATO, Compliance

NALI personal capacity directive to come

NALI personal capacity

The treatment of services provided in a personal capacity to an SMSF in relation to the NALI rules require more clarity, according to a senior technical services executive.

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Property, Superannuation

Foreign purchaser duty may hit overseas-born trustees

foreign purchaser duty overseas-born trustees

SMSFs with New Zealand-born trustees may be considered as foreign trusts if the trustees don’t hold a residency visa at the appropriate time.

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ASIC

ASIC bans director of illegal SMSF promoter

ASIC early release Superfunded

ASIC has banned the director of Superfunded for eight years after he promoted the illegal early access of superannuation funds.

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Financial Planning, Superannuation

Large lump sum death benefits hard to swallow

lump sum death benefits

Large lump sum death benefits can place surviving SMSF members with higher balances in a vulnerable situation, a wealth management expert says.

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