News

Business News

Xpress Super registers significant growth

SMSF administrator Xpress Super has experienced organic growth of 100 per cent during the 2017 financial year and chief executive Olivia Long is confident the trend will continue in the new year.

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Business News

BGL unveils latest Simple Fund 360

BGL Corporate Solutions has released Simple Fund 360 Version 3.0, which is specifically designed to support the 2700 firms with over 140,000 SMSFs currently using the software.

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Business News

Class, Super Know How partner on audits

Class has announced boutique SMSF service provider Super Know How as its latest partner to integrate with Class’s unique audit functionality.

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ATO

ATO dislikes two-fund strategy

The ATO has officially declared its dislike of running two SMSFs in conjunction with one another as a method by which to manage and comply with the newly imposed $1.6 million transfer balance cap in video content it has released with the SMSF Association.

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Auditing

Problems with low-cost audits pinpointed

The ATO has identified a number of issues associated with low-cost SMSF audits after carefully reviewing these services in the 2017 financial year.

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Regulation

TBC only a transitional arrangement: Morrison

Federal Treasurer Scott Morrison has used a recent SMSF community address to emphasise the transfer balance cap introduced on 1 July should be regarded as a transitional measure only.

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ATO

IPA keeps ATO outage issue on the table

ATO system outages are still an issue affecting practitioners, leading the Institute of Public Accountants (IPA) to consider pursuing compensation should the problems continue.

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Business News

Super reforms heighten adviser risk

The changes to the superannuation system could be increasing the risk levels involved for financial advisers due to their restrictive nature and the increasing need to put strategies in place as early as possible to facilitate the best possible client outcome, according to a technical expert.

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Compliance

Tailoring, updates vital to SOA compliance

Accountants using white-label statement of advice (SOA) services must ensure their templates are specifically tailored to each client, as well as kept up to date with the ongoing changes to the super reforms, in order to meet Australian Securities and Investments Commission standards.

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Accounting

Class integrates advice services

Class has announced its latest partnership with online financial product advice provider Accountants Scaled Advice Platform (ASAP) to support its accountant users with the cost of complying with financial licensing laws, following the removal of the accountants’ exemption.

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