News

Death benefits, Superannuation

Financial abuse move now a certainty

Both major political parties have committed to amending the law to stop perpetrators of financial abuse from benefiting through superannuation.

Both major political parties have committed to amending the law to stop perpetrators of financial abuse from benefiting through superannuation.

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Insurance, Regulation, SMSF, Superannuation

Birth date impacts bring-forward NCCs

Non-concessional contributions, Craig Day, Linda Bruce, Colonial First State, CFS,

The provisions allowing SMSF members to trigger the NCC bring-forward rules in a subsequent financial year are birth-date sensitive.

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Education, Retirement, SMSF, Superannuation

Downsizer not sole home sale benefit

Smarter SMSF, education, SuperGuardian,Tim Miller, 

SMSF members who can make downsizer contributions before retirement can use those funds in more than one way apart from a lump sum addition to super.

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ATO, SMSF

ATO urges SMSFs to go paperless

SMSF trustees have been encouraged to lodge activity statements using the ATO’s paperless, online system, which gives them more time to submit documents.

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Accounting, financial advice, SMSF, Superannuation

Added endorsement for financial abuse move

Financial abuse, superannuation.,

The country’s two peak accounting bodies have applauded the government’s commitment to restrict any monetary gains of financial abuse perpetrators.

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Business News, financial advice, Legislation, SMSF, Superannuation

FAAA launches election hub

Financial Advice Association Australia, FAAA, Sarah Abood, Labor, Liberal, election

The FAAA has established an election hub for advisers to provide insight into how their local candidates stand on issues related to key financial advice reforms.

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LRBA

One LRBA can apply to multiple assets

LRBA, borrowing,

More than one property asset title can be acquired using a single limited recourse borrowing arrangement in certain situations.

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ATO, SMSF, Superannuation, Tax

Tax agents must review SMSF skills

ATO, The Auditors Institute, Deloitte, SMSF, Liz Westover,

Tax agents who do small numbers of SMSF returns may want to reconsider if they have retained the skills and experience to continue this work.

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Death benefits, SMSF, Superannuation

Family violence super changes endorsed

The government’s vow to prevent perpetrators of family violence from profiting from a victim’s superannuation has been applauded.

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Business News, Investments, Technology

Selfwealth to delist after sale

Selfwealth, Craig Keary, Samantha Horton, Dhruv Arora,

Investment platform Selfwealth will shift into private ownership after shareholders agreed to a cash sale to an Asian firm operating a similar business model.

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