ATO embarks on new SMSF research survey
The ATO has embarked on a new survey for SMSFs aiming to further gain a better understanding of the SMSF audience and market.The new self-managed super funds (SMSF) audience market…
Budget measures designed to give retirees control in increasingly ‘opaque’ super environment
Senator Jane Hume has assured that the superannuation measures announced in the federal budget aren’t aimed to force retirees to draw down on savings but instead create greater control in…
ASIC’s hands tied on affordable advice
ASIC commissioner Danielle Press has suggested a large number of the changes demanded by industry in the regulator’s affordable advice consultation were “above my pay grade”, indicating major action may…
ASIC takes action against SMSF property ‘one-stop shop’
The regulator has commenced proceedings in the Federal Court against a collapsed SMSF services firm for allegedly paying illegal bonuses to advisers around the purchase of property through SMSFs.ASIC has commenced…
Legacy pension changes create uncertain sting in treatment of pension reserves
Changes made in the federal budget for legacy pensions will have a flow-on effect on the treatment of pension reserves, creating uncertain and complex tax issues.In the recent federal budget, the…
Adviser registration should be centre of new disciplinary model
The new disciplinary function for financial advisers can be further refined to improve the model through the creation of a true professional registration for financial planners, according to an industry…
Advice considerations for clients entering next phase of social security measure changes
Heading into a post-COVID environment, several temporary social security measures have been amended and adjusted, creating different types of advice considerations for advisers and their clients affected by these changes,…
ATO clears the air over lodgement support bungle
A specialist team of ATO officers focused on providing lodgement support to tax practitioners has now been established after confusion reigned over the Tax Office’s initial offer of support.Last Friday,…