News

Estate Planning, Superannuation

Downsizer, aged-care strategy go hand-in-hand

SMSF advisers advising clients on downsizer contributions for estate planning purposes should consider the client’s full circumstances and the interaction with aged care, according to Aged Care Steps.

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Retirement, Superannuation

Super catch-up measure starts

The federal government’s catch-up carry-forward super measure began this week, giving those with broken work patterns, particularly women, a better chance to save for retirement.

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Compliance, Superannuation

SMSFs get inactive low-balance account concession

The bill enacting the 2018 federal budget proposal to have all inactive low-balance (under $6000) superannuation accounts transferred to the ATO has taken into account the concerns of SMSFs running deliberate multiple-fund strategies.

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Investments

Agricultural lease fund attracting SMSFs

Specialist agriculture asset manager Growth Farms Australia has received early interest from SMSF trustees for its new investment trust.

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Investments, LICs

PM Capital LIC targets SMSFs

The PM Capital Global Opportunities Fund (PGF) and its subsidiary, PM Capital GO 2025, have jointly issued a prospectus for the offer of a listed investment company (LIC) security specifically targeting SMSFs.

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Investments

Future-proofing your portfolio

Looking back to early 2007, Australian Securities Exchange (ASX) indices were bloated and trading on historically high forward earnings multiples with small companies at premiums to large companies.

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Retirement, Superannuation

Fund manager starts anti-franking ban campaign

Plato Investment Management has started an online petition to help protect the dividend imputation system and ensure positive financial outcomes for retirees in light of the federal opposition’s policy proposal to scrap excess franking credit refunds.

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ATO, Strategy

ATO to apply Part IVA to reserve scrutiny

The ATO has made known its intention of determining whether there are any breaches of the Income Tax Assessment Act 1936 Part IVA rule when examining the use of reserves in an SMSF.

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Accounting, Education

FASEA bridging course should be practical

AccountantsIQ has called on the Financial Adviser Standards and Ethics Authority (FASEA) to make its one-unit bridging course for accountants relevant and practical if it does not exempt accountants from further study to meet new education and professional standards.

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ASIC

ASIC begins proceedings against ex-adviser

The Australian Securities and Investments Commission (ASIC) has taken action against Refocus Financial Group and a former financial adviser for using SMSF client funds for his personal use.

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