News

Investments

Global equities capable of delivering income

SMSF investors do not have to sacrifice income when diversifying into global equities as there are ample dividend prospects offshore.

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Regulation

Increased ASIC post-FOFA power real

The Australian Securities and Investments Commission (ASIC) effectively increased its powers as a result of the Future of Financial Advice (FOFA) reforms through a relaxed burden of proof standard that can be used to justify the banning of a financial adviser.

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Business News

Policy silos must be broken down

The SMSF Association has stressed the silo mentality in public policy formulation must end as isolated policy settings have predictably impacted on other policy areas, causing negative outcomes for the industry.

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Compliance

Advisers must factor in CGT complexity

Capital gains tax (CGT) relief available to SMSFs looking to comply with the newly imposed transfer balance cap will have to be applied on a case-by-case basis, creating further complexity for advisers and trustees in the preparation of fund accounts, a technical services manager has said.

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ATO

ATO anticipates NCC transition issues

The ATO has flagged the transitional rules for non-concessional contribution (NCC) bring-forward amounts as an expected pain point as SMSF advisers continue to work out in which financial year the rule was triggered in line with their clients’ total super balance.

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Investments

India must be key growth focus for SMSFs

SMSF trustees and advisers need to recognise the opportunity for growth in India as portfolio exposure to the world’s fastest-growing major economy has been relatively slow.

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Business News

Collaboration inspires confidence: SMSFA

The SMSF Association’s chief has underscored the importance of collaboration between all sectors of superannuation in order to boost confidence in the $2.3 trillion retirement savings system.

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Business News

Govt seeks housing affordability submissions

Treasury has called for submissions in relation to the draft legislation governing the First Home Super Saver Scheme and the downsizing contribution measures contained in the 2017 federal budget.

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Auditing

BGL names audit integration partner

BGL Corporate Solutions has announced Evolv White has been integrated into its Simple Fund 360 software.

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Auditing

Audited feeds aid real-time reporting: Class

Class has delivered audited data feeds for its SMSF administrator and auditor users in preparation for real-time SMSF reporting.

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