News

Investments

Future-proofing your portfolio

Looking back to early 2007, Australian Securities Exchange (ASX) indices were bloated and trading on historically high forward earnings multiples with small companies at premiums to large companies.

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Retirement, Superannuation

Fund manager starts anti-franking ban campaign

Plato Investment Management has started an online petition to help protect the dividend imputation system and ensure positive financial outcomes for retirees in light of the federal opposition’s policy proposal to scrap excess franking credit refunds.

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ATO, Strategy

ATO to apply Part IVA to reserve scrutiny

The ATO has made known its intention of determining whether there are any breaches of the Income Tax Assessment Act 1936 Part IVA rule when examining the use of reserves in an SMSF.

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Accounting, Education

FASEA bridging course should be practical

AccountantsIQ has called on the Financial Adviser Standards and Ethics Authority (FASEA) to make its one-unit bridging course for accountants relevant and practical if it does not exempt accountants from further study to meet new education and professional standards.

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ASIC

ASIC begins proceedings against ex-adviser

The Australian Securities and Investments Commission (ASIC) has taken action against Refocus Financial Group and a former financial adviser for using SMSF client funds for his personal use.

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Financial Planning, Superannuation

Reports signal low risk of financial harm

The SMSF Association has acknowledged the significance of the corporate regulator’s recent SMSF reports, but noted most non-compliant client advice files did not indicate a risk of financial detriment.

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Accounting, Strategy, Superannuation

Manual ECPI now impractical

The new guidelines for calculating exempt current pension income (ECPI) require additional record-keeping, potentially covering several accounting periods and more data, and are more difficult to apply, meaning specialised software is critical to avoid mistakes.

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Retirement, Superannuation

No material change in super gender gap

The average super balances of intending retirees over the past decade have more than doubled for both men and women, but females remain well behind the male average, with real improvements expected to take some considerable time, new research from Roy Morgan has revealed.

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Business News, Financial Planning

Morrows merger to boost SMSF clients

Financial services firm Morrows has announced a strategic merger with MSI Ragg Weir, an accounting, wealth management, auditing and superannuation firm in Melbourne, to create a mid-tier firm, effective today.

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Retirement, Superannuation

Retirement alliance unveils website

The Alliance for a Fairer Retirement System, comprised of several industry associations, has launched a website to cater to the growing demand from organisations and individuals seeking support, information and research on the impact of scrapping excess imputation credit refunds.

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