News

Regulation, Retirement, Tax

Franking ban threatens retirement system

Pink Piggy bank money concept on dark blue background

The proposed policy to scrap refundable franking credits undermines the core principles of Australia’s retirement system, a House of Representatives Standing Committee on Economics hearing into the proposal was told yesterday.

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Accounting, Financial Planning, Investments

Licensing regime a one-dimensional view on advice

The limited licensing regime for accountants is proving to be too onerous and has failed to recognise financial advice is not a monolithic unit, according to new online marketplace and platform offering OpenInvest.

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Education, Financial Planning

FASEA publishes two new legislative instruments

The Financial Adviser Standards and Ethics Authority (FASEA) has issued two additional legislative instruments for consultation, with one covering the relevant providers degrees, qualifications and courses standard.

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Regulation, Retirement, Superannuation

Franking policy removes SMSF control, choice

The Labor Party’s proposed policy to ban excess franking credits will diminish the control and choice of SMSF trustees and members, a House of Representatives Standing Committee on Economics hearing into the proposal was told today.

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ASIC, Property, Retirement

Advisers failing SMSFs on property: panel

SMSF advisers are failing to discuss vital issues with clients when advising them on property investment, including contingency plans when they retire and liquidity issues.

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Investments, Regulation, Retirement

Imputation credit policy carries currency risk

The Labor Party’s proposal to scrap imputation credit cash refunds will encourage Australian investors to invest globally, hence increasing currency risk, a fund manager has warned.

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Accounting, Education, Financial Planning

FASEA lacks limited licensee details

The latest round of legislative instruments and the updated standard blueprint from the Financial Adviser Standards and Ethics Authority (FASEA) provide little to no help to those providing SMSF advice under limited licences, according to wealthdigital.

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Investments, Retirement

OpenInvest aiming to address SMSF needs

A new online marketplace and platform offering, OpenInvest, was unveiled yesterday in response to SMSF trustees’ desire for direct access to a range of highly credible and experienced managers.

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Education, Financial Planning

FASEA implementation for existing advisers unclear

The SMSF Association has expressed strong concerns about how the new education and ethical standards will apply to existing financial advisers following the release of a revised standards framework by the Financial Adviser Standards and Ethics Authority (FASEA).

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Regulation, Retirement, Superannuation

Franking inquiry begins public hearings

The House of Representatives Standing Committee on Economics will this week hold two hearings for its inquiry into the implications of removing refundable franking credits, after receiving hundreds of submissions from retirees.

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