News

Strategy

Small business CGT underused

Many SMSFs may still be unaware they qualify for small business capital gains tax (CGT) relief where the capital gains for the sale of their business can be directly contributed into their fund, a technical expert has said.

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Strategy, Superannuation

SG concessional cap arbitrage still exists

An SMSF lawyer has recommended advisers should study the individual circumstances of high-salaried individuals before instructing them to opt out of super guarantee (SG) contributions in case there is an arbitrage opportunity between the earnings on excess contributions and the shortfall interest charge (SIC) levied against them.

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Estate Planning, Strategy

SMSF estate planning money at high risk

The SMSF sector can expect estate planning lawyers to pounce on the “treasure trove” of SMSF estate planning money for easy fees and wins, an industry expert has warned.

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ATO

ATO reveals CGT application numbers

The ATO has revealed around 44,000 SMSFs have elected to apply the transitional capital gains tax (CGT) relief as at 30 June 2018, while 90 per cent of SMSFs that lodged a 2017 SMSF annual return were on time.

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ETFs, Investments

Vanguard unveils managed account strategies

Vanguard Australia has announced its diversified portfolio strategies are now available through Macquarie’s separately managed accounts on its wrap platform.

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Business News

AMP appoints “change agent” as new CEO

AMP has hired former Credit Suisse executive Francesco De Ferrari as its new chief executive.

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Financial Planning, Strategy

Expect complex franking credit discussions: CAANZ

Advisers and accountants should prepare for in-depth discussions with SMSF clients around strategies to navigate through Labor’s proposal to disallow refunds of excess franking credits should it become law, according to an SMSF expert.

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ATO, Insurance

Life cover paid from pension can be TBC bonus

Holding life insurance cover inside an SMSF and funding the premiums from a reversionary account-based pension can give a surviving spouse the ability to establish an income stream well in excess of the $1.6 million dictated by the transfer balance cap (TBC), a technical manager has said.

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Business News, Investments

Hub24 building out data integration, connectivity

Adviser investment platform Hub24 has revealed it is working on bringing investment data together more effectively for the benefit of both advisers and clients, including SMSFs, following strong market feedback.

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Regulation

Sole purpose should not be a political football

The last time I looked, the sole purpose test dictates an SMSF needs to be maintained for the sole purpose of providing retirement benefits for its members or their dependants if the member passes away before retirement.

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