News

Business News

SuperConcepts acquires OneVue SMSF admin

SuperConcepts has announced the acquisition of OneVue’s SMSF administration business.

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ATO

System integrity tempers technology use

The ATO has declared its adoption of technology to make tasks such as SMSF establishment more efficient will always be limited by the need to protect the integrity of the sector.

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Regulation

Meaning of reserves differs under law

A hand places the final jigsaw piece in the centre of a jigsaw.

All reserves maintained in SMSFs for superannuation law purposes will be counted as reserves for tax law purposes, but not vice versa, according to DBA Lawyers.

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ETFs

APLs stifling ETF usage

The restrictive nature of dealer group approved product lists (APL) is the major reason more financial planners are not recommending the use of exchange-traded funds (ETF) for their clients, according to an industry forum.

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Investments

Is the barbell approach to asset allocation weakening SMSF portfolios?

Portfolio diversification is one of the key tenets that underpins modern portfolio theory (MPT).

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Auditing

ASIC disqualifies Victorian SMSF auditor

The Australian Securities and Investments Commission (ASIC) has disqualified a Victorian auditor from being an approved SMSF auditor for breaching independence requirements.

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Practice Management

HR key for accountant advisory arms

Finding the right people is the critical element for accountants who want to build a successful financial planning arm within their existing practice, according to the head of a specialist business partnership group.

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Compliance

Downsizing requires holistic tax planning

Advisers and their SMSF clients need to be mindful of some of the wider tax planning implications of the federal government’s downsizing measure, according to a specialist industry lawyer.

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Accounting

New scheme may facilitate third-party assistance

View of Sydney from Potts Point in cloudy weather

The First Home Super Saver Scheme (FHSSS) introduced as part of the 2017 federal budget could potentially provide a welcome avenue for third parties to assist in the purchase of a residence for younger family members, a technical expert has said.

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Investments

SMSFs move outside ASX top 20: report

SMSFs are progressively looking beyond the largest 20 companies listed on the Australian Securities Exchange (ASX) to maximise the growth of their investments, the latest industry report has found.

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