News

Insurance, Superannuation

Salary sacrifice has risk insurance benefits

Having temporary and permanent disablement insurance cover inside or outside of their superannuation fund is an arrangement that can allow an individual to benefit from more than just the payout from the policy in the event of a debilitating incident, a technical expert has said.

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Auditing

Reduce audit scope, not frequency

SMSFs with a history of good record-keeping should be allowed to reduce the scope of their annual audit instead of moving to a three-year audit cycle, according to Pitcher Partners.

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Superannuation

Living expenses for retirees on the rise

The latest Association of Superannuation Funds of Australia (ASFA) statistics into retirement lifestyles has shown a jump in the cost for retirees during the June 2018 quarter, driven mainly by clothing, transport and health services.

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Estate Planning

New tool simplifies estate planning

SuperCentral has announced a first-to-market estate planning tool, Ask.Will, aimed at helping advisers initiate estate planning discussions with clients through a simplified process.

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Investments

The search for higher rates and trusted brands

Earlier this month, the Reserve Bank of Australia kept interest rates at 1.50 per cent, a historic low we’ve been stuck with for two full years. Moreover, the market is of the view we have at least another full year, if not longer, at this record low.

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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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