News

How to spend the next nine months

September 21, 2016

Research shows it takes around nine months to travel from Earth to Mars, history tells us it’s the equivalent time of an average gestation period, and financial planning nous tells us that’s how much time there is to maximise the benefits from the federal government’s super changes, which will take effect from 1 July 2017.

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ATO

ATO encourages collaboration to make sector better

September 21, 2016

Darin Tyson-Chan

The ATO has called for the forging of a partnership-type relationship between itself and practitioners in regard to technical issues, as it will result it a stronger SMSF sector.

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LICs

Antipodes Global LIC exceeds $220m

September 21, 2016

Krystine Lumanta

Antipodes Global Investment Company yesterday exceeded $220 million in subscriptions, the maximum proceeds under the offer.

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Accounting

Accountants coming around to licensing

September 21, 2016

Darin Tyson-Chan

The latest research into accountants servicing SMSF clients has shown an increasing number of practitioners currently falling into line with the new licensing regime, with even more intending to operate under an Australian financial services licence (AFSL) in the coming years.

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Auditing

AAT supports ASIC auditor ban

September 21, 2016

Krystine Lumanta

The Administrative Appeals Tribunal (AAT) has sustained the corporate regulator’s decision to disqualify Abe Samuel from being an approved SMSF auditor after breaching independence requirements and being deemed unfit to perform his duties.

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Business News

$1.6m NCC threshold needs further clarity

September 21, 2016

Krystine Lumanta

The federal government’s non-concessional contribution (NCC) maximum threshold of $1.6 million has uncovered a set of new issues for the industry, with SMSF practitioners looking for answers to take back to their clients following the backflip on the lifetime NCC measure last week.

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Business News

Super changes have trade-offs: IPA

September 19, 2016

Krystine Lumanta

The federal government’s move to scrap the backdated limit of the $500,000 lifetime non-concessional contributions (NCC) cap for superannuation is mostly good news for retirement income planning, the Institute of Public Accountants (IPA) has said.

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Business News

SMSF Association applauds NCC change

September 19, 2016

Krystine Lumanta

The SMSF Association believes the federal government’s new policy for superannuation non-concessional contributions (NCC) will reduce administrative complexity, as well as increase opportunities for adequate retirement savings.

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Business News

New report busts small balance myth

September 19, 2016

Krystine Lumanta

SMSFs with smaller balances were not found to be uneconomical over extended periods as some industry commentary has long suggested, the latest analysis from Class has revealed.

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Strategy

NCC cap change provides strategy opportunity

September 19, 2016

Darin Tyson-Chan

Amendments to the proposed non-concessional contributions (NCC) cap change and how it will be implemented have provided a new opportunity for advisers to use opportunistic strategies for their clients, an SMSF technical expert has said.

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