News

Administration, Auditing, Practice Management, SMSF, Superannuation, Technology

AI already improving audit process

Artificial intelligence tools are already noticeably improving the SMSF audit process for practitioners and clients alike.

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Pensions, SMSF, Strategy, SuperStream, Tax

Pensions should not be a tax dodge

Starting a pension in an SMSF to extract large amounts of money and in the process avoiding a CGT liability may be viewed as a misuse of the fund.

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Investments, Strategy

Partnership launches investor platform

Commonwealth Private and JP Morgan Asset Management have formed a strategic alliance to offer a new investment platform for wholesale investors.

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Administration, Division 296, Documentation, Investments, SMSF, Strategy, Superannuation, Tax, Valuations

Div 296 to change compliance landscape

Compliance procedures applicable to SMSFs will be significantly impacted by the introduction of the proposed Division 296 tax.

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financial advice, Financial Planning, Practice Management, Technology

Tech adoption may mean complete reset

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, technology, artificial intelligence, AI, financial advice, accounting, practice management, organisational reset, Smarter SMSF, Aaron Dunn

The rapid rate at which technology is advancing may lead to a forced organisational reset among accounting and advisory firms when adapting to change.

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Division 296, Investments, Superannuation, Tax

Div 296 drives investment bond resurgence

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, investment bonds, retirement income, Division 296 tax, estate planning, Generation Life, Vincent Stranges, death benefit taxes

The prospect of the Division 296 tax becoming a reality has spurred interest in investment bonds as superannuants seek other tax friendly options.

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Investments, Superannuation, Tax

Super should fund tech developments

superannuation, Super Members Council, Economic Reform Roundtable, research and development, venture capital, Misha Schubert, private equity, start-ups

Australia’s pool of superannuation savings should be used to invest in new scientific and technology developments to boost returns and innovation.

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Compliance, financial advice, Financial Planning, Regulation

FSC welcomes CSLR levy consultation

Financial Services Council, FSC, Financial Services Minister, Daniel Mulino, Treasury, consultation paper, Compensation Scheme of Last Resort, CSLR, Blake Briggs

The Financial Services Council has applauded the government’s decision to enter a consultation process with regard to the funding of the Compensation Scheme of Last Resort in the immediate future.

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Auditing, financial advice, SMSF

Final Caddick settlement just okay

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Melissa Caddick, class action, auditors, Institute of Financial Professionals Australia, IFPA, Natasha Panagis, SMSF audit

The final class action settlement for SMSF investors who fell victim to Melissa Caddick’s fraudulent actions has been seen as a passable outcome.

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Compliance, Documentation, Investments, SMSF

Strategy reviews require evidence

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, trustees, investment strategy, minute, BT, Bryan Ashenden, written resolution, SIS Regulations

While trustees may be used to documenting their fund’s investment strategy, any changes to it must also be formally recorded for compliance purposes.

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