News

Markets

Portfolio protection from volatility rebirth

Market gyrations in February marked a rebirth of share market volatility. After an historically unprecedented period of low or ‘episodic’ volatility, SMSFs now need to be prepared for the new market environment.

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Commercial Property, Regulation, Residential Property

Call for more property spruiking barriers to entry

The SMSF Association has called for the introduction of increased barriers to entry for SMSF property spruikers as a method of reducing the incidence of inappropriate advice involving fund establishment for the purpose of purchasing residential real estate via limited recourse borrowing arrangements (LRBA).

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ASIC, ETFs

ASIC identifies risks in ETP market

The Australian Securities and Investments Commission (ASIC) has identified a range of risks in the exchange-traded products (ETP) market in Australia following a review prompted by the growing interest from SMSF and retail investors.

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Regulation, Superannuation

Lack of super objective hinders reform

The Financial Services Institute of Australasia (FINSIA) has called for the primary objective of superannuation to be legislated, arguing this oversight is holding the industry back from reform.

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Education

Tax practitioners undertaking CPE review

The Tax Practitioners Board (TPB) will carry out reviews of continuing professional education (CPE) records of over 1000 tax practitioners in 2018/19.

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Fixed Income, Investments, Strategy

Neuberger Berman actively targets SMSF sector

Investment management firm Neuberger Berman is ramping up its focus on SMSF investors in the area of global fixed income capabilities.

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Superannuation

Superannuation death benefits – consider the children

A relatively unpublicised aspect of the 2017 superannuation reform legislation is the potential limitation on paying death benefit income streams to children.

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Retirement, Superannuation

Super reforms cause ‘tectonic’ SMSF asset shift

The 2016 superannuation reforms have had a significant negative impact on SMSF pension assets and Labor’s proposal to reduce imputation credits for SMSFs would further punish self-funded retirees, according to Class.

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Retirement, Strategy, Superannuation

TBC may expose super benefits to unwanted parties

SMSF trustees who have had to roll back some of their fund assets from pension to accumulation phase to comply with the $1.6 million transfer balance cap may have inadvertently given access to a portion of their retirement savings benefits to unwanted parties upon death, according to a technical expert.

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Regulation, Superannuation

Assessment of super regulators may reveal gaps

The banking royal commission’s hearings on the superannuation sector will examine the role of primary regulators the Australian Securities and Investments Commission (ASIC) and Australian Prudential Regulation Authority (APRA), which could identify regulatory gaps, according to a financial services consulting firm.

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