ASIC has permanently banned a financial adviser from providing financial services after he was changed with five counts of fraud.ASIC announced that it has permanently … [Read More...]
Shares drive super funds to eighth consecutive year of investment gains
Superannuation funds have had an eighth consecutive year of positive investment returns, driven in large part by share markets, according to Chant West.The ‘median growth fund’ … [Read More...]
3 year financial services ban for SMSF & LRBA advice not in best interest
ASIC has banned a financial adviser from providing financial services for three years for breaching the best interest duty relating to advice to establish SMSFs and borrow to … [Read More...]
Legislation to include LRBAs in Total Super Balance expected later in 2017
Legislation including Limited Recourse Borrowing Arrangements in the Total Superannuation Balance is expected to be ready to be introduced to Parliament later in 2017.Draft … [Read More...]
ATO expects event based reporting forms ready October/December 2017
The ATO expects to release forms for event based reporting of the Total Superannuation Balance and Transfer Balance Cap in October and December 2017, but it is unclear if the … [Read More...]
Professional bodies can’t take membership for granted: SMSFA Chair
Professional associations, especially voluntary organisations, can't take membership for granted, the Chair of the SMSF Association has told a conference.SMSF Association … [Read More...]
SMSF Association Technical Days helping professionals get up to speed
The series of SMSF Association Technical Days is helping superannuation professionals get up to speed on the recent complex changes, many of which came into effect on 1 … [Read More...]
Global Centre of Excellence for Retirement Savings established by SMSFA
The SMSF Association is establishing a Global Centre of Excellence for Retirement Savings.SMSFA CEO John Maroney made the announcement at the first SMSF 2017 Technical Day … [Read More...]
ATO responds to criticism over veterans super lump sum ‘loophole’
The ATO has responded to reporting that the closing of a superannuation tax loophole is costing some veterans thousands of dollars in additional tax.From 1 July 2017 a tax … [Read More...]
Women not as engaged with superannuation as men, says ASFA
Women are not as engaged with their superannuation as men, on average, according to the Association of Superannuation Funds of Australia (ASFA).A survey of 1,000 Australians … [Read More...]
Government plans to close superannuation salary sacrifice SG loophole
The Government has announced plans to close a loophole which allows employers to claim salary sacrifice superannuation contributions against their Super Guarantee … [Read More...]
ATO to not impose some FTL on time penalties following IT issues
The ATO has announced that it will not be imposing Failure To Lodge (FTL) on time penalties for some reporting obligations, following from recent IT issues.The ATO said it … [Read More...]