News

Financial Planning

HNWI advice demand remains amid headwinds

A new industry report has found while the banking royal commission has well and truly dented consumer confidence and trust, high net worth individuals (HNWI) still see the benefit of financial advice.

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Regulation, Retirement, Superannuation

Franking policy will hurt low-income retirees

New data analysis by SuperConcepts reveals the Labor Party’s franking credit policy proposal will pinch the pockets of low-income retirees.

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ETFs

New biotech ETF launched

ETF Securities (ETFS) today unveiled Australia’s first exchange-traded fund (ETF) with a pure focus on and exposure to biotechnology, a sub-sector of healthcare.

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Investments, Regulation

Imputation credit policy may hit stock returns

Labor’s plan to abolish cash refunds on franking credits could have an impact on the return profile of higher dividend-paying stocks, according to a bond investor.

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Auditing

Auditor duties potentially redefined

A recent case heard in the New South Wales Supreme Court has potentially redefined the role of the auditor and caused increased angst and potentially some confusion within the SMSF sector. In Ryan Wealth Holdings Pty Ltd v Baumgartner [2018] NSWSC 1502 the auditor of an SMSF was held accountable for certain failings of the […]

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ETFs, Investments

New EQMF to appeal to SMSFs

Boutique global equities investment manager Antipodes Partners is expecting to capture SMSF investors for its newly listed active exchange-traded fund (ETF), or exchange-quoted managed fund (EQMF), off strong support for its global equity strategy. The Antipodes Global Shares (Quoted Managed Fund) was listed and commenced trading on the Australian Securities Exchange (ASX) yesterday. It enables […]

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Regulation

Franked dividends boost corporate balance sheets

Australia should retain cash refunds for excess imputation credits for super funds as this is the reason Australian corporate balance sheets are in robust condition, according to Fidelity Australia.

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ASIC, Education, Financial Planning

ASIC releases responsible manager FASEA requirements

The Australian Securities and Investments Commission (ASIC) has begun consultation on increased competence requirements for advice licensees and their responsible managers to support the professional standards reforms in the financial advice industry. ASIC has proposed updates to “Regulatory Guide 105 Licensing: Organisational competence” (RG 105), including requiring responsible managers of advice licensees to pass the […]

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ASIC, ATO, Auditing

SMSF auditors practice statement updated

The ATO’s Practice Statement Law Administration (PA LA) in relation to determining whether matters concerning approved SMSF auditors should be referred to the Australian Securities and Investments Commission (ASIC) must be carefully read by super trustees and advisers.

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ATO, Compliance

Market-linked pensions in the new reporting regime

There has been a lot of information published in relation to the transfer balance account report (TBAR) requirements for account-based pensions (ABP), which, while certainly onerous, are reasonably simple in theory. Capped defined benefit income stream (CDBIS), however, are not quite as simple, with additional reporting requirements coming to light now, more than a year […]

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