News

Compliance

Topdocs integrates with ASAP

Topdocs has teamed up with Australian fintech start-up Accountants Scaled Advice Platform (ASAP) to help accountants servicing Australia’s 580,000 SMSFs deal with an expected unprecedented compliance squeeze at the end of the 2017 financial year. 

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Regulation

Govt committed to best possible super system

Revenue and Financial Services Minister Kelly O’Dwyer has reaffirmed the federal government’s commitment to its changes to the superannuation system, maintaining they are necessary to best safeguard and grow people’s retirement savings.

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Compliance

Separation of assets a major compliance issue

The recording of SMSF assets under the proper name or entity is an issue the ATO has ranked among its top 10 current compliance problems.

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Residential Property

Still no grounds for property bubble claims

Limited recourse borrowing arrangements (LRBA) within the superannuation system are still too small to be responsible for driving a property bubble, yet a new report continues to propagate the myth that they are to blame.

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Superannuation

Optimal SMSF performance threshold defined

The latest joint research from SuperConcepts and the University of Adelaide’s International Centre for Financial Services has determined the SMSF asset balance at which investment returns generated significantly improve for members.

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Commercial Property

Commercial property good for diversification

Trustees should consider greater allocations to unlisted commercial property in SMSF portfolios for better diversification and returns, according to a manager for the asset class.

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Regulation

Advisers must note asset segregation rules

Advisers need to be aware of the two dimensional nature of the asset segregation rules to understand this type of arrangement can still exist in an SMSF even after the implementation on 1 July of the new legislation governing the superannuation system, an industry educator has said.

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Superannuation

Shadow shop supported in the main

The Australian Securities and Investments Commission’s (ASIC) announcement at last month’s SMSF Association National Conference that it will be conducting a shadow shopping exercise on SMSF advice has been met with a mixed reaction from sector practitioners.

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ATO

Fixed trust structures require examination

Professional advisers will need to be on the lookout for issues surrounding fixed trusts and also question when they are required following the ATO signalling its interest in the area, a specialist law firm has warned.

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Superannuation

SMSFA, FSC to tackle women’s super issues

The SMSF Association and Financial Services Council (FSC) are joining forces for a conference that will explore why women retire with substantially lower superannuation balances than men.

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