News

ATO

ATO reserve allocation discretion tested

A recent ATO private binding ruling has clarified the discretionary power of the regulator as to the treatment of allocations to SMSF members from reserves.

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Accounting, Regulation

Govt unlikely to bring back accountants’ exemption

The federal government is unlikely to be in the mood to reintroduce the accountants’ exemption given recent and ongoing inquiries.

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ATO, Superannuation

Class finds holes in final PC report

Class has expressed concerns its research findings around SMSF returns are not fully reflected in the final Productivity Commission report.

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ASIC, Regulation

SMSF adviser banned for 25 years

Court action initiated by ASIC has resulted in an SMSF adviser being removed from the industry for 25 years for misusing client funds.

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Compliance, Regulation

Royal commission effect on jobs already evident

The jobs market in the financial services and insurance sectors has taken a beating in the wake of the banking royal commission.

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Investments, Platforms

BT adds CoreSeries managed accounts to Panorama

BT has launched its CoreSeries range on BT Panorama, offering six active diversified managed portfolios.

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Investments, Markets

Younger investor share trading on the rise

The number of younger investors trading shares has increased, but they are still choosing well-known names in the domestic market.

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Education

SMSF advisers get lighter education load

SMSF specialist advisers may only have to complete a maximum of four study units to comply with new FASEA education standards.

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Regulation, Superannuation

ALP policy has potential economic consequences

The proposed changes to the franking credit rules could result in SMSF investors choosing debt for capital formation instead of equities, potentially threatening the Australian economy.

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ATO

ATO to address TBC commutation notice errors

The regulator has detected errors regarding transfer balance account commutations and is in the process of addressing them.

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