News

Regulation

TPB addresses cloud-based issues

The Tax Practitioners Board (TPB) has issued a practice notice clarifying how tax agents are expected to manage cloud-based activities in the servicing of clients.

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Business News

SMSFs to benefit from new Saxo partner

Saxo Capital Markets has collaborated with Autochartist for automated technical analysis tools and live trade signals, enabling users of SaxoTraderGo, including SMSFs, to cover and analyse the market across asset classes with greater efficiency.

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Business News

NowInfinity adds trust register service

NowInfinity has unveiled its cloud-based offering, The Trust Register, as part of the company’s new initiatives for 2017.

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Regulation

Laws may trigger advice need for new group

Stormy clouds over the ocean, from the beach.

The prescribed treatment of superannuation death benefits under the recently passed superannuation legislation could activate demand for financial advice from elderly widows or widowers, according to an accounting firm partner.

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Compliance

Advice crucial for SMSFs unable to repay LRBA

SMSF trustees in non-bank limited recourse borrowing arrangements (LRBA) who are unable to repay their loan by the approaching 31 January deadline need to seek legal advice and should have already contacted the ATO to discuss their options.

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Accounting

Striking the right balance

Accountants and financial advisers have a critically important role to ensure that only those investors for whom an SMSF is suitable go into the SMSF sector and in doing so are fully informed.

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Documentation

Pressure on for timely record-keeping

A specialist superannuation lawyer has warned financial advisers and accountants to ensure their SMSF clients have up-to-date fund information to determine whether their pension balances are over the $1.6 million transfer balance cap at 30 June this year.

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Accounting

Super rule will expose accountants

Mouse traps with cheese on old wooden table.

The incoming $1.6 million transfer balance cap is expected to catch unlicensed accountants offering financial advice as well as accountants neglecting to help clients in order not to breach the licensing regime, an SMSF expert has said.

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Superannuation

Adequacy crucial to super objective: SMSFA

The SMSF Association has called for adequacy to be included in the superannuation objective, labelling the concept fundamental to achieving a secure and dignified retirement.

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LICs

SMSF demand for AFIC LIC continues

Australian Foundation Investment Company (AFIC) has said the long-term nature of its portfolio continues to attract SMSFs to its listed investment company (LIC) structure.

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