News

Contributions, Regulation, Superannuation

Industry calls for payday super delay

Payday Super, Treasury, submission

A consortium of financial services industry groups have asked Treasury to extend the start date of payday super by two years.

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financial advice, Financial Planning

All advice reforms require consultation

The SMSF Association has called for the government to release a complete package of advice reforms for consultation before their implementation.

The SMSF Association has called for the government to release a complete package of advice reforms for consultation before their implementation.

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Legislation, Tax

Revenue will drive Div 296 progress

$3 million, CFS, Craig Day, deemed earnings, Division 296, Division 296 tax, Earnings calculation, indexation, revenue, Total super balance, unrealised capital gains, self managed superannuation, self managed super, SMSF

The revenue that will come from the Division 296 tax is too significant for the government to drop the proposed measure, which will be used to fund its election promises.

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Legislation, SMSF, Superannuation

Fixing CSLR priority number one

CSLR, Financial Advice Association Australia, FAAA, Compensation Scheme of Last Resort, Sarah Abood, sector cap, Dixon Advisory, United Global Capital, CSLR levy, financial advisers, Shield Master Fund, First Guardian

Amending the CSLR has been identified as the most important financial advice-related issue the Labor government must address when parliament restarts.

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Business News, Retirement

Alliance aims for new retirement offerings

An Australian investment solutions provider has teamed with a global investment firm and begun work on developing new retirement income products to deal with longevity risk.

An Australian investment solutions provider has teamed with a global investment firm and begun work on developing new retirement income products to deal with longevity risk.

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ETFs, Investments, Technology

Global X launches China tech ETF

Global X, China, ETF, technology, exchange traded fund, Global X China Tech ETF, DRGN, Billy Leung

Global X has released an ETF focused on the Chinese technology sector, which it believes has been underserved by fund managers to date.

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NALI/NALE, SMSF, Tax

Service discount sway a NALE issue

Accurium, discounted services, employees, general expenses, NALE, Natalie Scott, non-arm's length expenditure, self-managed super, self-managed superannuation, SMSF, SMSF trustees, superannuation

Certain situations exist where a service discount granted to an SMSF will initiate the NALE rules even if the reduced price is available for all staff.

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Superannuation, Tax

Div 296 start not tied to sitting days

The ability of the government to pass the Division 296 tax bill through parliament may have little effect on the date it actually starts, which may be as soon as the new financial year.

The ability of the government to pass the Division 296 tax bill through parliament may have little effect on the date it actually starts, which may be as soon as the new financial year.

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financial advice, Financial Planning, Retirement

Retirement advice too complex for super funds

Financial Advice Association Australia, FAAA, Delivering Better Financial Outcome, DBFO, Treasury, retirement, financial advice, superannuation funds, simple advice, complex advice, collectively charged advice, intra-fund advice

Retirement planning guidance should not be provided by super funds as it is too complex to sit under a simple advice model and requires a qualified practitioner to deliver.

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Superannuation

Scam call warning over benefit balances

An accounting body has alerted practitioners and consumers to avoid engaging with unsolicited callers who are using market volatility to offer reviews of superannuation fees and investments.

An accounting body has alerted practitioners and consumers to avoid engaging with unsolicited callers who are using market volatility to offer reviews of superannuation fees and investments.

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