News

SMSF property spruiker banned

September 25, 2017

A promoter of property purchasing strategies through an SMSF has been permanently banned from providing financial services and engaging in credit activity by the corporate regulator.

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ATO

Around $18 billion of super in limbo

September 25, 2017

Darin Tyson-Chan

The latest ATO figures have revealed the value of retirement savings considered lost or unclaimed is now close to $18 billion across 6.3 million accounts as at 30 June 2017.

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Regulation

Better super comparisons on the way

September 25, 2017

Krystine Lumanta

More consistent assessments of the returns and retirement expenses of SMSFs in comparison to Australian Prudential Regulation Authority (APRA)-regulated funds are not unreachable, with the prudential regulator already working on better analysis.

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Business News

SISFA contests latest SMSF generalisations

September 25, 2017

Krystine Lumanta

The Self-managed Independent Superannuation Funds Association (SISFA) has called out the Australian Institute of Superannuation Trustees (AIST) for making numerous prejudiced claims against SMSFs.

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ATO

ATO stipulates concerns over reserves

September 25, 2017

Darin Tyson-Chan

The ATO has declared it will be closely scrutinising any apparent changes in the use of reserves in response to the newly imposed transfer balance cap and total super balance.

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Accounting

Care over market values underscored

September 25, 2017

Krystine Lumanta

SMSF accountants and advisers have been warned to exercise additional care when determining total super balances as two different market values could result in contributions consequences for clients.

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Accounting

SMSF accountant satisfaction drivers revealed

September 25, 2017

Krystine Lumanta

Drivers of trustee satisfaction with SMSF accountants vary according to life stage, the latest industry paper has found.

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ATO

SMSF Association supports TBAR option 2

September 25, 2017

Darin Tyson-Chan

The SMSF Association has called on the ATO to adopt a practical approach regarding the introduction of the transfer balance account report (TBAR) and in doing so has thrown its support behind the proposed ‘option 2’ method of reporting.

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Business News

SMSFs show gender and group bias

September 25, 2017

Darin Tyson-Chan

The latest industry research performed by the University of Adelaide’s International Centre for Financial Services and SMSF administrator SuperConcepts has revealed group and gender are significant factors in determining the investment philosophy of an SMSF.

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Retirement

The truth about the ageing brain

September 20, 2017

Brie Williams

Deciding to “cross that bridge when I come to it” may leave SMSF investors with less-desirable options and outcomes, and their families and advisers with more stress and risk.

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