News

Aged Care, Retirement

Aged-care funding clarity needed

Aged care Aged care Taskforce Funding Retirees Association of Independent Retirees

A professional body representing self-funded retirees has requested more detail into the funding arrangements outlined in the final report prepared by the aged care taskforce.

read more
Compliance, SMSF

Disqualification crime has no limit

SMSF trustee criminal offence disqualified person

An offence committed by an individual that disqualifies them from being an SMSF trustee will be held against them forever.

read more
Documentation, Trusts

Review of deed chain essential

SMSF trust deed deed chain changes Cooper Grace Ward Nathan Rutherford

Checking the history of changes to an SMSF trust deed and ensuring they are valid is crucial to planning for the potential death of a fund member.

read more
financial advice

Retrospective CSLR is counter to QAR

SMSF Association Quality of Advice Review adviser levy compensation scheme of last resort CLSR

The addition of a retrospective compensation scheme levy with a high ASIC industry supervision fee will add further strain on the advice sector.

read more
Administration, ATO, Compliance, Investments

ATO SMSF investment role spelt out

ATO SMSF Investment strategy Investments

The ATO’s role in assessing whether an SMSF investment strategy is appropriate has been confirmed by a financial services practice principal.

read more
ATO, Contributions, Strategy

Reserving NCCs not recommended

ATO Contribution reserves Non-concessional contributions Concessional contributions Strategy SMSF

Reserving strategies should be limited to concessional contributions as non-concessional contributions are likely to encounter regulatory hurdles.

read more
LRBA, SMSF

Asset transfer after LRBA optional

SMSF LRBA limited recourse borrowing arrangement bare trust transfer

SMSFs do not have to transfer an asset from a bare trust after paying off an LRBA, but not doing so will constrain its use by the fund.

read more
ASIC, Compliance, Regulation

ASIC bans Queensland SMSF adviser

ASIC SMSF Financial adviser Ban

ASIC has banned a financial adviser from any involvement in the financial services industry after finding he engaged in dishonest conduct when dealing with six SMSF clients.

read more
ASIC, Business News, Investments

Mayfair regains asset control

Mayfair 101 James Mawhinney ASIC Supreme court of Victoria Liquidators

Mayfair 101 has regained control of contested assets after reaching a settlement with liquidators appointed nearly four years ago.

read more
Compliance, Contributions, Regulation, Strategy

Bring-forward rule timing important

Bring-forward arrangement Non-concessional contributions Contributions Contribution caps Indexation SMSF

The higher non-concessional contributions caps coming on 1 July will not be applicable for everyone looking to use the bring-forward rules.

read more

Copyright © SMS Magazine 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital