News

Investments

CMC opens up to global markets

CMC Markets Stockbroking has this week launched international share trading as well as exchange-traded options (ETO) on its platforms, opening up access to global markets via one account.

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Compliance, Investments

Investment strategy more than compliance

SMSF trustees need to be more proactive in ensuring they have a clearly defined investment strategy in their portfolios rather than treating it as just a compliance document, according to a wealth advisory firm.

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ASIC, Auditing

SMSF auditor struck off register

The Australian Securities and Investments Commission (ASIC) has banned a New South Wales-based practitioner from being an SMSF auditor after he was found to have breached the independence requirement by which he was bound.

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Investments

Ratings would enrich P2P sector

Additional ratings and research coverage of Australia’s peer-to-peer (P2P) investments has been identified as an area needing more work, which in turn will provide SMSF trustees with better insights into whether to participate in these opportunities, an investment professional has said.

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Investments, Retirement

Hub24 platform to include Challenger annuities

Hub24 and Challenger have announced they are working together to provide Challenger annuities on the Hub24 platform for advisers and clients.

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Administration, Compliance

Traps to avoid when setting up an SMSF

The number of Australians establishing SMSFs has been rising consistently since an amendment to the Superannuation Industry (Supervision) Act 1993 in 1999 allowed for SMSFs to be controlled by trustees rather than the federal government.

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Residential Property

DomaCom gets Federal Court victory

Fractional property investment house DomaCom has had the full Federal Court hand down a favourable decision with regard to the leasing to a related party of a property held in a sub-fund where an SMSF is the owner of units in the sub-fund.

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Regulation, Strategy, Superannuation

SMSFs must keep constant NALI watch

SMSF advisers and trustees must be mindful of the new non-arm’s-length income (NALI) rules when assessing fund strategies so as not to pay maximum levels of taxation, a sector expert has said.

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ATO, Regulation, Superannuation

SMSFs should share SuperStream costs

Extending the operation of SuperStream to SMSF rollovers will inflate costs for Australian Prudential Regulation Authority (APRA)-regulated funds, with little or no cost burden falling on the SMSF sector, according to an industry body.

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Regulation

PC findings will feed negative SMSF stereotypes

The Productivity Commission’s finding that SMSFs with balances below $1 million are not cost-effective and underperform has fuelled misinformation about SMSFs, potentially increasing anxiety among SMSF members and deterring possible new fund owners, according to an SMSF expert.

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