News

Education, LRBA, SMSF, Superannuation

LRBA rate gap a driver for change

The growing gap between the safe harbour interest rate for an LRBA and those on offer from commercial lenders may push some SMSFs to seek new borrowing arrangements.

The growing gap between the safe harbour interest rates for an LRBA and those on offer from commercial lenders may push some SMSFs to seek new borrowing arrangements.

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ASIC, Investments, SMSF

ASIC seeks closure of rollover scheme

ASIC has sought court orders to wind up a managed investment scheme that used cold calling and superannuation rollovers to get clients to invest.

ASIC has sought court orders to wind up a managed investment scheme that used cold calling and superannuation rollovers to get clients to invest.

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ATO, Retirement

Payday super consultation opens

Payday Superannuation legislation, ASFA, Association of Superannuation Funds of Australia, Mary Delahunty, ATO, retirement savings,

The government will continue its efforts to introduce payday superannuation and is seeking input from the sector after releasing draft legislation.

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ATO, Insurance

Compassionate sum must be net of tax

Early payments made from SMSFs on medical compassionate grounds must have tax deducted before they are received by the relevant member.

Early payments made from SMSFs on medical compassionate grounds must have tax deducted before they are received by the relevant member.

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financial advice, Trusts

Reconsider wholesale client status

SMSF advisers should view all trustee clients as retail until they can show they have the assets to meet the upper limits of the wholesale investor test.

SMSF advisers should view all trustee clients as retail until they can show they have the assets to meet the upper limits of the wholesale investor test.

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ASIC, ATO, Auditing

ASIC sanctions 17 SMSF auditors

ASIC has cracked down on 17 SMSF auditors who failed to meet their compliance obligations, banning some and imposing various disciplinary measures on others.

ASIC has cracked down on 17 SMSF auditors who failed to meet their compliance obligations, banning some and imposing various disciplinary measures on others.

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ART, ATO, Pensions, Tax

ART ruling may clash with TR 2013/5

Administrative Review Tribunal, ART, TR 2013/5, superannuation pension, Tax Ruling 2013/5, Sladen, Phil Broderick, Philippa Briglia, QWYN and Commissioner of Taxation, superannuation income stream

The Administrative Review Tribunal has adopted a wide view on what may be considered a superannuation pension, potentially creating a conflict with Taxation Ruling 2013/5.

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AFCA, Compliance

AFCA states SMSFs are not a problem

AFCA, CSLR, Australian Financial Complaints Authority, Compensation Scheme of Last Resort, CSLR, Business As Usual, BAU,

AFCA has admitted advice involving the use of SMSFs and not the funds themselves is triggering a large number of complaints it is receiving.

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AFCA, Compliance, SMSF

Wholesale investor test clarified

Wholesale investor, Australian Financial Complaints Authority, AFCA, Patrick Hartney, Shail Singh, Australian Securities and Investment Commission’s, ASIC,

AFCA has provided some context as to how ASIC’s enforcement approach to the wholesale investor rules will apply to individuals in practical terms.

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Death benefits, financial advice, SMSF

Ambiguous BDBNs need legal specialists

Binding Death Benefit Nomination, BDBN, Cooper Grace Ward Lawyers, Hayley Mitchell, SMSF Association National Conference 2025,

Advisers must self-evaluate their capability to negotiate problems with BDBNs they create and if unsure delegate that work to legal specialists.

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