News

Contributions, Superannuation, Tax

Tax cuts offer super boost

stage three tax cuts superannuation balance concessional non-concessional contribution

Proposed tax cuts later this year will allow superannuants to boost their balances without adversely impacting their cash flow.

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Legislation, NALI/NALE, SMSFA

Proposed NALE measures inequitable

SMSF Association NALE non-arm's length expenditure Treasury

The SMSF Association has restated its view that the proposed NALE measures are unfair, but it is unlikely they will be changed.

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ASIC, financial advice

Adviser registration deadline extended

ASIC registration Deadline Extension Financial advisers

ASIC has given a final deadline extension deadline for adviser registration to avoid the end of the summer holiday period.

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Pensions, Retirement, Superannuation

Living costs hit retirement confidence

Retirement income covenant Retirement savings Superannuation Cost of living

Rising living expenses are causing a growing number of Australians to harbor less confidence in their quality of life as they approach retirement age.

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Auditing, Compliance, Investments, Regulation, Superannuation

Many ways to fix in-house assets

SMSF In-house assets 5 per cent limit Rectify

Trustees do not need to obey the letter of the law when looking to rectify a breach of the in-house asset rules from a practical perspective.

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Compliance, Death benefits, Superannuation, Tax

Non-cash payouts can be a great solution

ATO Death benefit member benefit Superannuation benefit Redemption of investments

A recent ATO private ruling regarding death benefits could have had a different outcome if an alternate redemption process had been used.

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financial advice, Legislation

Adviser class name may change

Financial advice QAR Quality of Advice Review Qualified advisers

Concerns from industry and consumers may force the government to change the naming of the new class of financial advisers as part of the QAR reforms.

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financial advice, Legislation

Accountants call for end to adviser exam

Financial adviser exam Quality of Advice Review Chartered Accountants Australia and New Zealand CPA Australia

Two industry bodies have urged Treasury to consider removing the financial adviser exam administered by ASIC.

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Legislation, Regulation

Financial law reform desperately needed

Australian Law Reform Commission ALRC financial services legislation final report

Financial services and corporations legislation is overly complex and in dire need of reform with a government agency recommending widespread changes.

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Compliance, Legislation, Tax

Submissions require real evidence

Treasury Consultation Division 296 tax Stakeholders Submissions

Some stakeholder criticism regarding the Division 296 tax was treated less seriously by Treasury due to a lack of evidence supporting the concerns raised.

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