News

Compliance, financial advice, Regulation

Ethical advice goes beyond compliance

SMSF advice ethics

When providing advice to SMSF clients, advisers should consider external factors as adhering to the Corporations Act may not guarantee ethical conduct.

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Technology

AI will be a friend, not a foe

AI technology should be viewed with an open mind within the SMSF industry as it has been a part of normal business processes for some time.

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financial advice, SMSFA

SMSF sector built by advisers

SMSF sector specialist advisers

Specialist SMSF advisers have played a key role in building the SMSF sector and its representative body into a recognisable presence in the superannuation landscape.

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NALI/NALE

NALE materiality a compromise

NALE materiality SMSF

The ability for SMSF auditors to decide if a NALE issue is worth flagging with the ATO may be a compromise position on the issue for the sector.

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Contributions, Superannuation

Keep contributing despite super tax

superannuation contributions earnings tax

Trustees should continue to contribute to their superannuation accounts as not doing so would not be a prudent strategy to adjust to the proposed super earnings tax.

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ASIC, Property

ASIC takes action against property developer

ASIC SMSf property scheme Sasha Hopkins

ASIC has sought orders to shut down a property investment company and ban its director, saying the business’s development schemes via SMSFs were unlicensed and unregistered.

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financial advice, Financial Planning

QAR receives subdued response

Quality Advice Review government response

The inherent flaws in the government’s approach to implementing the recommendations of the Quality of Advice Review have been called out.

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Compliance, Pensions, SMSF

Minimums key for multiple pensions

Minimum pension payments

Withdrawing more than the minimum amount from one pension will not fulfil the minimum payment requirement for another pension.

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Investments, Strategy

Template strategies must be flexible

investment strategy template SMSF

Using template investment strategies to meet the ATO’s requirements may not be viable if they cannot be tailored to specific circumstances.

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Superannuation

Govt payments crucial to early access

Superannuation early access

Certain conditions regarding social security must be met before individuals can access their super benefits early due to severe financial hardship.

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