Bills introduced for changes to LRBAs, NALI, SG opt-out and Salary Sacrifice

The Government has moved to legislate several of its integrity measures around superannuation, introducing Bills for Super Guarantee opt-out, including LRBAs in Total Super Balance, Non-arm’s length income for expenses and to close the Salary Sacrifice ‘loophole’. Each of these measures, some of which date from 2017, have previously been… Read More »Bills introduced for changes to LRBAs, NALI, SG opt-out and Salary Sacrifice

Adviser who appeared before Banking Royal Commission banned for three years

A financial adviser who appeared before the Banking Royal Commission has been banned from providing financial services for three years by ASIC. ASIC announced that it has banned Sam Maxwell Henderson from providing financial services for three years. At times described as a ‘celebrity financial adviser’, due to his TV… Read More »Adviser who appeared before Banking Royal Commission banned for three years

Great opportunities for clients in superannuation changes, SMSF conference told

There are some great advice opportunities in the recent and proposed superannuation changes, in particularly around the catch-up contribution rules. While much of the focus during the election was around Labor’s superannuation policies, with the Coalition returning to Government there are great advice opportunities in the recently legislated and proposed… Read More »Great opportunities for clients in superannuation changes, SMSF conference told

Super funds break record with tenth year of positive returns

Superannuation funds have made it to a record-breaking tenth consecutive year of positive investment returns. According to Chant West, the ‘median growth fund’, with 61%-80% in growth assets and representing the fund most Australians have, was up 7% for the 2018/19 financial year. Chant West senior investment manager Mano Mohankumar… Read More »Super funds break record with tenth year of positive returns

Auto-rollover default super could boost savings by over $400 billion

Automatically rolling super fund members into new default super funds when they switch employers could boost retirement savings by over $400 billion. Recent inquiries have looked to change how default super funds are set to tackle the issues of underperformance by funds and reduce unwanted multiple accounts. The Financial Services… Read More »Auto-rollover default super could boost savings by over $400 billion