News

Regulation

SMSFs in the dark on MiFID reporting

There has been an influx of queries from SMSFs about the potential impact of the new Markets in Financial Instruments Directive (MiFID II) reporting regime as awareness remains low, according to APIR Systems.

read more
Regulation

SMSF Association looking at FASEA effects

The SMSF Association is currently in the process of examining what impact the new Financial Adviser Standards and Ethics Authority (FASEA) will have on its industry activities.

read more
Practice Management

Adopt best practice for TBAR

SMSFs reporting on an annual basis under the ATO’s transfer balance account report (TBAR) regime should still endeavour to lodge in a timely manner, a specialist industry lawyer has warned.

read more
ATO

CGT relief errors surfacing

Kasey Macfarlane

The ATO has already been notified about errors made in the calculation and implementation of the transitional capital gains tax (CGT) relief provisions contained in the super reforms.

read more
Accounting

Accountants and planners resisting merge

The opportunities and the commercial/client benefits arising from the converging of financial planning and accounting practices are too significant to ignore but many are reluctant to embrace this shift, according to Australian Wealth Solutions (AWS).

read more
Business News

SMSF exclusion from Royal Commission welcomed

While the SMSF Association has stated it is pleased SMSFs are excluded from the terms of reference for the Royal Commission into banking and financial services, it hoped the commission would have no impact on financial advice reforms.

read more
Retirement

Aussies on path to comfortable retirement

Compulsory superannuation and compound interest will enable many working Australians to reach the Association of Superannuation Funds of Australia’s (ASFA) comfortable standard of living by the time they retire, according to the association.

read more
Estate Planning

Estate planning adviser shortage flagged

The amount of estate planning work SMSF clients will require in order to comply with the new super changes will put pressure on specialist adviser demand, which has the possibility to fall short, according to an industry lawyer.

read more
Regulation

Minimal TBAR pain should be aim

Tony Negline

It is inevitable unintentional errors and unforeseen consequences will result from the new transfer balance account reporting (TBAR) requirements, but the regulator needs to ensure these elements are eliminated in an expedient manner for the good of all superannuants, an industry leader has said.

read more
Regulation

ASIC reports on limited AFSLs, SMSF auditor applications

The Australian Securities and Investments Commission (ASIC) reported 1211 applications for limited Australian financial services licences (AFSL) were received between July 2016 and June 2017.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.