News

Cryptocurrency, Investments, Regulation

Crypto growth needs firm regulation

Cryptocurrency Regulation Cryptocurrency exchanges Digital assets Caleb & Brown

Strong protections need to be in place to cope with the increasing demand for cryptocurrency investments coming from individual and SMSF investors.

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Auditing, Compliance, Regulation

Auditing standards impact valuations

Sufficient and appropriate evidence Asset valuations SMSF auditors Auditing standards

Professional standards play a significant role for SMSF auditors when assessing whether an asset valuation is sufficient and appropriate.

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Legislation, SMSFA, Tax

Unrealised gains tax a dangerous precedent

SMSF Association Unrealised capital gains Division 296 tax

Taxing unrealised capital gains as part of the Division 296 impost could set a risky precedent, potentially causing significant ripple effects throughout Australia’s tax system.

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ATO, Auditing, Compliance, Investments

ATO flags concerns over asset values

Asset valuation SMSF ATO Auditors Asset classes

The ATO has put SMSFs that have reported unchanged asset valuations over a number of years on notice, stating it is watching compliance with valuation requirements this year.

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SMSF, Superannuation

Ageing demographic future of SMSFs

SMSF Deloitte Growth Industry funds Dynamics of the Australian Superannuation System Report

SMSFs are expected to grow well into the future, but an ageing demographic is likely to reduce their number and the overall pool of retirement savings.

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Compliance, Death benefits, Regulation

ATO view clear on benefit payments

ATO SMSF Member benefit Death benefit Superannuation benefit Death

The ATO is taking a less discretionary approach to situations where a superannuation benefit is paid after the death of a member, but was requested before the event.

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Investments, Property, SMSF

Sharia-compliant SMSF offering launched

SMSF property investment Sharia Meezan Wealth Management

A Sydney-based financial services firm has released an SMSF product allowing Muslims to invest in property in a way that aligns with their religious practices and beliefs.

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financial advice, Legislation

CSLR levy cost will pass to consumers

Financial advisers Compensation Scheme of Last Resort Funding

The costs imposed upon advisers to fund the compensation scheme of last resort conflict with the government’s aim to make financial advice more affordable and will be borne by consumers.

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ASIC, Auditing, Practice Management

New service for SMSF auditors

SMSF auditors Professional review Auditors Institute

Members of The Auditors Institute will soon have a new service made available to them should they want a professional review of their practices.

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Property, Superannuation

Early access won’t overcome deposit hurdle

Property Home ownership Superannuation Deposit

Early access to superannuation for housing would not meet deposit requirements for an average dwelling, with most young homebuyers having super balances below those levels.

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