News

Accounting

Accountants, planners working in silos

There is still significant reluctance for accountants and financial planners to communicate with each other when servicing clients due to a mutual lack of respect between the professions, a panel has been told.

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Business News

SMSFA commends AFCA establishment

The SMSF Association has strongly supported the official creation of the Australian Financial Complaints Authority (AFCA), labelling it a significant step in protecting the rights of all SMSF members.

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Cryptocurrency

Xpress Super links with Bitcoin Trader

SMSF administrator Xpress Super has formed an alliance with cryptocurrency brokerage Bitcoin Trader to allow it to offer SMSFs investment options in five cryptocurrencies. 

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ATO

Beta testing for TBAR data underway: ATO

Hand manipulating wooden building block.

The ATO has revealed it is currently closed testing a small group of accountants and tax agents in relation to systems or services that would enable access to client data collected from its transfer balance account report (TBAR) regime.

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Superannuation

LRBA uptick in SMSFs a concern

The SMSF Association has expressed concern over the increase in the number of limited recourse borrowing arrangements (LRBA) within SMSFs over the past two to three years. 

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ATO

SMSF Association, ATO create think tank

The SMSF Association has announced the establishment of a think tank with the ATO that will look at using technology and digital SMSF solutions to enhance member outcomes.

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Business News

Industry poised for royal commission scrutiny

The SMSF Association has said while SMSFs have been explicitly excluded from the terms of reference of the banking royal commission, there remains the potential for the sector to be included in the work of the inquiry.

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Strategy

SMSF goals vital in shaping strategies: report

SMSF retirees should consider whether their goal is to grow, preserve or spend their savings over retirement to best determine their financial strategy, according to Accurium.

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Superannuation

Innovation with super highly valuable

The innovative investment decisions of super funds have a flow-on effect on social and environmental outcomes that ultimately benefits wider society, an Australian community leader has said.

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Business News

SMSF Association names chair

The SMSF Association has announced Professor Deborah Ralston as its new chairperson, effective from the end of the industry body’s annual national conference this Friday.

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