Funding for the banking Royal Commission has been taken the budget for enforcement, a senior Government Minister has revealed. Steven Ciobo, Minister for Trade, Tourism and … [Read More...]
Labor imputation credit policy to cost APRA fund members $3.75 billion
Labor’s policy to stop refunds of excess imputation credits won’t just impact SMSFs, but also some APRA-regulated super funds - to the tune of $3.75 billion according to the … [Read More...]
Diversification leaves super fund returns flat, despite share market falls
Superannuation fund returns were flat in the March quarter, despite recent share market volatility. The median growth super fund – 61-80% invested in growth assets – returned 0% … [Read More...]
Four year ban for former Suncorp Financial Services adviser
ASIC has banned a former Suncorp Financial Services financial adviser for four years after finding he failed to act in his clients' best interests. ASIC announced that it has … [Read More...]
3,000 expected to attend inaugural SMSF Expo in Melbourne
3,000 SMSF trustees and other visitors are expected to attend the inaugural SMSF Expo being held at the Melbourne Convention and Exhibition Centre over three days, starting April … [Read More...]
90% of SMSF set up advice doesn’t comply with best interest duty, ASIC finds
Around 90% of advice to establish an SMSF doesn’t comply with the best interest duty, ASIC has told the banking Royal Commission based on a yet to be published … [Read More...]
Taxpayers need new tools to comply with superannuation rules
Taxpayers need new tools to comply with the changed superannuation rules, says Tax & Super Australia in its 2018/19 pre-Budget submission. The organisation used its … [Read More...]
BGL’s AI Assistant uses Deep Learning to prepare SMSFs for audit
BGL says that its Simple Fund 360 AI Assistant is "the first Deep Learning transaction review assistant for the SMSF Software industry". “This is a huge achievement by our … [Read More...]
Industry Super Australia chief David Whiteley to leave organisation
Industry Super Australia Chief Executive David Whiteley will soon leave the organisation to take up a position with IFM Investors, it has been announced. Industry Super … [Read More...]
Draft ASIC fee regs has $899 fee to cancel SMSF auditor registration
The Government has released draft legislation and regulations to implement an industry-funded, fee-for-service, model for ASIC. These include substantial fees to register as an … [Read More...]
Catherine Bolger announced as new AIST president
Catherine Bolger has been announced as the new president of the Australian Institute of Superannuation Trustees (AIST). AIST CEO Eva Scheerlinck said the Board was delighted to … [Read More...]
Higher backpacker and DASP tax “poorly handled”: Chartered Accountants
The introduction of the ‘backpacker tax’, and the substantial increase in the tax rate on Departing Australia Superannuation Payments (DASPs) was “poorly handled” and needs review, … [Read More...]