News

Strategy

Why SMSFs are turning to unlisted property

Unlisted property funds had a stellar 2017, with total returns three times stronger than those of Australian equities, making it one of the year’s best-performing asset classes.

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Investments

Ethical investing makes good sense

Australians are demanding more accountability and transparency from their investments, particularly through superannuation funds and fund managers. Yes, people want their investments to provide good returns, but they also want to know their money is invested in industries and companies that are doing good for the planet and not causing harm.

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Compliance

ASIC consults on ethics compliance schemes

The Australian Securities and Investments Commission (ASIC) is consulting on code of ethics compliance schemes for financial advisers under the new education requirement legislative regime.

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Investments

Listed investment trust attracts SMSFs

SMSF advisers and trustees have responded positively to the Gryphon Capital Income Trust (GCI), which is filling a gap in the market for a heightened return to cash without placing excessive capital at risk compared to alternatives.

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Accounting

FOFA drove accountants away from SMSF set-up

The Financial Adviser Standards and Ethics Authority new education standards will not have a significant impact on accountants advising on the establishment of SMSFs as many have already stepped away from this task following the introduction of the Future of Financial Advice (FOFA) reforms, according to an accounting body.

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Accounting

New SMSF member limit to improve flexibility

The 2018 budget measure increasing the maximum number of members in an SMSF from four to six will help improve the flexibility of these structures, but will come with some administration challenges, the director of an accounting firm has said.

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Auditing

Audit measure sparks lobby group formation

Belinda Aisbett

The SMSF Auditors Lobby Group has been established in response to the strong opposition to the 2018 budget measure to allow SMSFs with a good compliance and record-keeping history to switch to a three-yearly audit cycle, which many believe will weaken the sector.

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Auditing

Calls for more action over audit proposal

Runners' legs on the move.

The SMSF auditing community has begun actively rallying against the proposal handed down in last Tuesday night’s budget to allow SMSFs with a good compliance and record-keeping history the ability to switch to a three-yearly audit cycle.

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ATO

ATO flags SMSF surveillance areas

The ATO has revealed it has taken a renewed interest in certain SMSF activities and will closely monitor these key areas.

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Accounting

TBAR needs rethink on business models

Advisers and accountants servicing clients on the transfer balance account report (TBAR) requirements need to revisit existing processes and business models within their businesses, according to an SMSF expert.

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