News

Accounting

Digital disruption an opportunity

The impact of technology on the accounting profession is only going to become greater and develop at a faster rate, forcing practices to truly consider their digital transformation.

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Accounting

Leadership required to restore trust

True leadership is needed from professional organisations to repair the erosion of trust in the accounting profession, the head of an industry body has said.

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ATO

Practitioner services a key priority: ATO

Box being ticked.

The ATO has reaffirmed its commitment to providing improved services and removing any irritants to tax agents as it works closely with the industry to get future initiatives and strategies right.

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Regulation

ASIC fund establishment focus to intensify

The Australian Securities and Investments Commission (ASIC) is likely to increase its scrutiny of the practice of setting up SMSFs in the coming year, according to an industry consultant.

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Insurance

Insurance via an SMSF – is this a good idea?

Insurance in superannuation has been the growth story of the Australian life insurance market for the past three years. In 2016, insurance in superannuation accounted for more than 50 per cent of TAL’s retail insurance sales.

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Business News

SMSF property scheme to face court

The Australian Securities and Investments Commission (ASIC) has commenced proceedings in the Federal Court and obtained interim injunctions against a Perth-based business and its sole director in relation to an SMSF property scheme.

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Business News

Equity research platform fills gap

Cloud-based equity research platform ShareClarity’s on-demand model covering Australian, New Zealand and Hong Kong-listed equities offers a much more transparent and accessible approach for advisers and SMSF trustees, with interest already growing, according to the firm.

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Compliance

ASIC publishes new limited AFSL materials

The corporate watchdog today released fresh webpage guidance and information sheets to help those holding a limited Australian financial services licence (AFSL) and their representatives understand their key obligations.

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Practice Management

No silver bullet for CGT relief

SMSF practices must factor in the amount of time advisers will need to dedicate to working out capital gains tax (CGT) relief for their clients as every fund will be different, a technical expert has warned.

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ATO

ATO encourages earlier TBAR reporting

Wristwatch.

The ATO has indicated certain scenarios affecting an SMSF member’s transfer balance cap should be reported under the transfer balance account report (TBAR) sooner rather than later to avoid double counting of income streams.

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