News

Business News

ASIC accepts ANZ EU

The Australian Securities and Investments Commission (ASIC) has accepted an enforceable undertaking (EU) from Australia and New Zealand Banking Group (ANZ) following an investigation into fees-for-no-service conduct by the bank.

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Business News

Citi to build on SMSF advocacy

Chalk up arrow on a chalkboard

Citi Australia is increasing its activities in the SMSF market using an ‘education and validation’ approach as it expects increasing growth in its client base going forward.

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Regulation

Contribution limits to fall again under Labor

The Labor Party has stated it will definitely change the superannuation contributions rules, such as reducing the super contributions caps, if it wins the next federal election.

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Investments

Antipodes unveils active ETF, new MD

Investment boutique Antipodes Partners has launched new investment vehicles for its existing global equity strategies for SMSF trustees and other retail investors.

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Compliance

Stringent sole purpose test for SMSF reserves

A lawyer has warned SMSFs using reserves that do not adhere to the sole purpose test to the letter may fall foul of the rules and fail the test as indicated by a recent court case.

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Accounting

Accountants not alone on tech challenges

SMSF accountants should embrace the latest technological developments rather than fear the worst as all industries have to deal with the impacts of rapid change, according to an accounting software provider.

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Regulation

More super changes under Labor: Bowen

Opposition Treasury spokesperson Chris Bowen

Opposition treasury spokesman Chris Bowen has confirmed more significant changes to the nation’s retirement savings framework will occur, in addition to the change in the treatment of imputation credits for individuals in retirement but not receiving the age pension, should Labor win the next federal election.

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Regulation

The gold in the new personal CC rules

Most of the 1 July 2017 superannuation reforms placed yet more restrictions on an individual’s ability to add to their superannuation.

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Commercial Property

Commercial property yields compelling

Unlisted commercial property is likely to remain attractive to yield-hunting investors even as bond rates improve, according to AMP Capital.

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Compliance

Non-use of safe harbour triggers breach

Red flag on beach.

SMSF trustees opting not to follow the safe harbour guidelines for related-party loans must be ready to demonstrate the loan was entered into and maintained on terms consistent with an arm’s-length dealing, an industry lawyer has warned.

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