SMSFA 2018 Technical days to focus on the fundamentals

The 2018 SMSF Association Technical Day Series will have a strong focus on getting the fundamentals of SMSFs right.

The Association’s Head of Education & Technical, Peter Hogan, said advisers who attended the Technical Day Series would benefit from the expertise of the five key speakers.

“Individuals establish SMSFs for the control it gives them to achieve their retirement income goals, and these sessions will provide fresh insights for advisers on how they can help their clients meet this worthwhile ambition,” he said. Read more...

Liam Shorte joins SMSF Association Board

The SMSF Association has announced that Liam Shorte will be joining its Board.

Liam Shorte, of Verante Financial Planning, is an SMSF Specialist Advisor and has chaired the SMSF Association’s NSW Local Community since 2015. He will join the Board on 1 September 2018, replacing Andrew Gale.

“It was a carefully considered choice to appoint Liam,” said SMSF Association chairperson Professor Deborah Ralston.

“His practical knowledge of the sector derived over many years from dealing directly with clients will be of enormous value to the Board, the Association, and the wider SMSF community.” Read more...

Jeremy Cooper joins SMSF Association Public Policy Committee

Jeremy Cooper has been appointed to the SMSF Association’s Public Policy Committee.

Jeremy Cooper is Chairman of Retirement Income at Challenger Limited, he was also Chair of the Super System Review and a deputy Chairman of ASIC.

SMSF Association John Maroney said the appointment of Mr Cooper is testament to the Association’s commitment to having the right policy settings for retirement, superannuation and financial services.

“The decision to invite Jeremy to join the committee continues the tradition of looking outside our own membership ranks to ensure we get the expertise, knowledge and experience to make a valuable contribution to the policy debate,” said Mr Maroney, alluding to the appointment of Bernie Ripoll to the committee in 2017. 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 27. The event will cover a range of topics of interest to SMSF trustees, with a focus on investment issues.

SMSF Association CEO John Maroney said the Association and Exhibitions & Events Australia had put together an exciting program that will appeal to SMSF trustees, irrespective of where they are on their SMSF journey. Read more...

Professor Ralston announced as new chair of the SMSF Association

Professor Deborah Ralston has been announced as the new chair of the SMSF Association.

Professor Ralston will take over from Andrew Gale at the end of the Association’s National Conference, which is currently being held in Sydney and ends on Friday. Gale will remain a director and Robin Bowerman, Vanguard’s Head of Market Strategy & Communications, will remain deputy chair.

“Ralston brings an illustrious academic career and longstanding role as a company director in the private and public sectors, with a strong background in innovation and start-ups, to the position,” said the Association, announcing the appointment. Read more...

SMSF industry still working through impacts of changes on estate planning

The SMSF industry is still working through the “far-reaching” changes that took effect on 1 July 2017, according to the SMSF Association.

SMSF Association CEO John Maroney said the changes, which he described as the most extensive in the past decade, fundamentally altered the landscape for SMSF members and advisers. He said the industry was still coming to terms with the impacts in some areas, including estate planning and death benefits.

“In the lead up to 1 July 2017, the industry’s focus was on optimising contributions and reducing pension accounts to under $1.6 million as well as considering CGT relief for those affected by the transfer balance cap and transition to retirement changes,” Maroney said. Read more...

SMSF Association supports all super reforms put to Parliament

The SMSF Association supports all the superannuation reforms introduced to the Parliament last week.

The Government last week introduced legislation to expand choice of super fund, close a salary sacrifice loophole, implement the announced ‘accountability and transparency’ reforms, change the governance of large funds and create the Australian Financial Complaints Authority (AFCA).

SMSF Association CEO John Maroney said the reforms are a welcome step to ensure the super system delivers better retirement outcomes for all Australians. Read more...

Super system needs period of stability, changes as part of five year review

The superannuation system needs a “sustained period” of stability, preferably with changes as part of a rolling five year review process, says the SMSF Association.

The SMSF Association says that the lack of stability in the superannuation system is impeding the efficient deliver of retirement savings outcomes to members.

“The system needs a sustained period of stability free from significant changes, especially changes to taxation settings, to allow members to have confidence in the system and make long-term savings plans,” said SMSF Association CEO John Maroney. Read more...

Tim Costello appointed as patron of SMSF Association

The SMSF Association has announced that the Reverend Tim Costello AO has been appointed Patron of the Association.

Costello will assume the position on 6 September 2017. He succeeds the inaugural Patron of the Association, Sir Anthony Mason, a former Chief Justice of the High Court of Australia, who was appointed in February 2007.

SMSF Association Chairman Andrew Gale, speaking for the Board, said: “Tim is the ideal person to step into the very big shoes of Sir Anthony and fill this important position. He is one of Australia’s best known community leaders and a sought-after voice on social justice issues, leadership and ethics.” Read more...

FASEA appointment gets thumbs up from the SMSF Association

The appointment of Deen Sanders to the Financial Adviser Standards and Ethics Authority (FASEA) has received the ‘thumbs up’ from the SMSF Association.

Minister for Revenue and Financial Services, Kelly O’Dwyer, recently announced the appointment of Dr Deen Sanders OAM as CEO of the FASEA.

“FASEA will play an important role in giving life to the Government’s reforms to raise standards in the financial advice industry. These reforms will professionalise the industry and deliver improved outcomes for consumers,” said Minister O’Dwyer. Read more...