News

Business News

SMSF exclusion from Royal Commission welcomed

While the SMSF Association has stated it is pleased SMSFs are excluded from the terms of reference for the Royal Commission into banking and financial services, it hoped the commission would have no impact on financial advice reforms.

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Retirement

Aussies on path to comfortable retirement

Compulsory superannuation and compound interest will enable many working Australians to reach the Association of Superannuation Funds of Australia’s (ASFA) comfortable standard of living by the time they retire, according to the association.

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Estate Planning

Estate planning adviser shortage flagged

The amount of estate planning work SMSF clients will require in order to comply with the new super changes will put pressure on specialist adviser demand, which has the possibility to fall short, according to an industry lawyer.

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Regulation

Minimal TBAR pain should be aim

Tony Negline

It is inevitable unintentional errors and unforeseen consequences will result from the new transfer balance account reporting (TBAR) requirements, but the regulator needs to ensure these elements are eliminated in an expedient manner for the good of all superannuants, an industry leader has said.

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Regulation

ASIC reports on limited AFSLs, SMSF auditor applications

The Australian Securities and Investments Commission (ASIC) reported 1211 applications for limited Australian financial services licences (AFSL) were received between July 2016 and June 2017.

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Business News

Minchin Moore and Smythe merge

Private wealth adviser Minchin Moore has announced it is to merge with Sydney-based firm Smythe Financial Management (SFM), effective 1 December.

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Investments

Resilience in emerging markets slated for 2018

The outlook for emerging market debt as an asset class will be a more compelling one for strategic investors during 2018, despite the significant global macro events expected, Lazard Asset Management has said.

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Superannuation

The SG you receive has a cap

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The superannuation guarantee (SG) regime was established under the Superannuation Guarantee (Administration) Act 1992 (SGAA).

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Business News

ASIC bans SA adviser for three years

The Australian Securities and Investments Commission (ASIC) has banned a South Australian authorised representative of Centrepoint-owned Professional Investment Services from providing financial services for three years for being inadequately trained or competent.

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Accounting

CAANZ appoints AccountantsIQ to policy role

Chartered Accountants Australia and New Zealand (CAANZ) has appointed accounting services provider AccountantsIQ as its financial advisory services senior policy adviser.

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