News

Education, financial advice

FAAA backs adviser exam changes

Financial Advice Association Australia FAAA Sarah Abood Financial adviser exam

The peak industry body for the financial advice profession has strongly supported proposed changes to the financial adviser exam.

read more
Compliance, Documentation, SMSF

Extended absence okay for control

SMSF central management and control Australian superannuation fund CMC

The central management and control test required for an SMSF can be satisfied even if trustees are located overseas for more than two years.

read more
ATO, Death benefits

Benefit treatment not clear cut

ATO SMSF Death benefit Member benefit treatment

The tax implications for a superannuation benefit paid after the unexpected death of a member will depend on several factors.

read more
ETFs

US approves bitcoin ETFs

Securities and Exchange Commission SEC Spot bitcoin ETF Exchange traded fund Global X Betashares

The US financial regulator has approved the use of ETFs that invest directly into bitcoin cryptocurrency, with the decision hailed as a sign of confidence in the asset.

read more
financial advice

FAAA sets out focus areas for 2024

FAAA Advocacy Financial advice Financial advisers

The Financial Advice Association Australia has highlighted making financial advice more affordable and attracting more advisers to the profession as key focus areas for 2024.

read more
ATO, Compliance, SMSF

Set-up scrutiny drivers revealed

ATO SMSF Establishment Set-up Compliance Scrutiny

The ATO’s decision to review an application to set up an SMSF is largely driven by the history and circumstances of the individuals involved.

read more
Property, Regulation

Avoid in-house asset trap

SMSF Property development Non-geared unit trusts Related party In-house asset

SMSF trustees must meet a specific set of conditions to avoid falling into the trap of turning a non-geared unit trust into an in-house asset when investing in property.

read more
Accounting, financial advice

Opposition looking at accountants advice

Quality of Advice review QAR accountants financial advice Angus Taylor

The opposition is looking at how accountants can be included in the provision of financial advice after noting their absence from industry reforms.

read more
Property, SMSF

Clean energy a BRP issue

Green energy Business real property SMSF

It remains unclear as to whether clean energy equipment fits the definition of business real property for SMSF purposes.

read more
Death benefits, Estate Planning, SMSF, Superannuation

Trustee awareness key in benefit payments

superannuation member benefit death benefit ATO SMSF

The ATO has further affirmed its treatment of a superannuation benefit paid after the death of a member will depend on the trustee’s awareness of that event.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.