News

ASIC, financial advice, Financial Planning

ASIC examining telemarketer-sourced clients

ASIC has raised concerns about the poor practices of advisers sourcing clients from telemarketers for the purpose of encouraging them to roll over their super to invest in risky asset classes.

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financial advice, Financial Planning

AMP completes advice exit

AMP has stepped away from the provision of financial advice, announcing the completion of the sale of its licensees to two separate entities, a move that comes at a significant loss.

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NALI/NALE

No SIS edict on NALI tax allocation

SMSF trustees cannot rely on the SIS Regulations to determine whether a NALI liability has to be allocated to a particular superannuation interest.

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SMSFA, Tax

Div 296 now a ‘zombie measure’

The Division 296 tax bill is unlikely to progress any further through the Senate, but the government has yet to admit it is permanently stalled, the SMSF Association has told members.

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ASIC, Property, SMSF

Court disqualifies, fines property developer

A property developer who promoted the use of SMSFs to invest in unlicensed investment schemes has received a record court-ordered fine.

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financial advice, Financial Planning

Member success leads new FAAA strategy

The future strategic direction of the Financial Advice Association Australia until 2030 has been released at the body’s annual conference, with members given top priority within its framework.

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Death benefits

Parental bond not super interdependency

A conventional relationship between a parent and a child does not automatically satisfy the definition of super death benefit interdependency.

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Pensions

Legacy pension exits hinge on Div 296 progress

A plan to allow legacy pension exits may be derailed if the Division 296 tax does not become a reality as the former is designed to ease the application of the latter.

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NALI/NALE

Revised NALE LCR released for comment

A revised version of LCR 2021/2 incorporating the NALE rules that become law at the start of the financial year has been released for comment.

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Business News, SMSF

SuperConcepts strikes fourth 2024 partnership

SuperConcepts will provide its software, administration and technical services to a large listed advice group in the fourth partnership announced since it moved to private ownership.

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