News

Superannuation

Downsizer contribution timing vital

The timing of the downsizer contribution in superannuation is vital, particularly if the SMSF client qualifies for non-concessional contributions (NCC), according to a technical expert.

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Superannuation

Super rules may escalate elder abuse

Older hikers look at a map.

SMSF practitioners need to arm themselves with education around the specifics of elder abuse as the recent changes too super may mean clients are holding more money outside of their fund, making them prime targets.

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Superannuation

SMSF Association welcomes FASEA guidance

The SMSF Association has labelled the new Financial Adviser Standards and Ethics Authority (FASEA) proposed guidance on education pathways for existing financial advisers as a crucial and positive step forward.

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ATO

ATO outlines cryptocurrency tax risks

SMSF trustees and members transacting in cryptocurrencies need to be aware of the tax consequences and keep records of all cryptocurrency transactions, according to a recent ATO update.

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Auditing

Jailed Victorian SMSF auditor disqualified

The Australian Securities and Investments Commission (ASIC) has disqualified a Victorian SMSF auditor who was convicted of criminal offences and is serving time in prison.

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Business News

SuperConcepts adds bulk TBAR capability

SuperConcepts has launched further transfer balance account report (TBAR) functionality on its SuperMate platform that will help SMSF practitioners comply with the new transfer balance cap requirements commencing on 1 July.

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ETFs

More ESG ETFs to come

A major exchange-traded fund (ETF) manager has predicted there will be an increasing number of these offerings covering environmental, social and governance (ESG) investing being introduced to the market in the future.

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Business News

Simple Fund 360 enables TBAR lodgement

BGL Corporate Solutions has announced its Simple Fund 360 now supports the preparation of the transfer balance account report (TBAR) form before 1 July.

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Business News

Continued ASIC leadership fundamental

The mix of skills, knowledge and experience of Australian Securities and Investments Commission (ASIC) commissioners is crucial for the corporate regulator’s ongoing direction and administration of powers, Revenue and Financial Services Minister Kelly O’Dwyer has said.

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Superannuation

ALP imputation credits policy uses old data

Pile of documents with colorful clips

The data used to formulate the federal opposition’s proposal to abolish cash refunds for excess imputation credits is outdated and does not factor in recent superannuation reforms, according to an industry expert.

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