SPAA

News and articles relating to SPAA, the SMSF Professionals’ Association of Australia, before it re-branded as the SMSF Association.

IGR 2015 shows need for income in retirement: SMSF Association

Intergenerational Report 2015, SMSF AssociationThe SMSF Association (formerly SPAA) has said the Intergenerational Report 2015 highlights the need for the superannuation system to provide income streams in retirement.

“This report has a very positive message; Australians are living longer, with increased life expectancy accompanied by better quality health,” said SMSF Association CEO Andrea Slattery.

Read More »IGR 2015 shows need for income in retirement: SMSF Association

SMSF Association calls for super tax concession debate

SMSF Association, superannuation tax concessionsThe SMSF Association (formerly SPAA) has called for an informed debate across industry and government about the cost and benefits of the superannuation tax concessions.

“Currently we are seeing a misinformed, simplistic and distorted debate about the tax concessions, and the future of the superannuation system and Australians’ retirement is too important for this to continue,” said SMSF Association CEO, Andrea Slattery.

Read More »SMSF Association calls for super tax concession debate

SPAA changes name to SMSF Association

SPAA changes name to SMSF Association, rebrandThe SMSF Professionals’ Association of Australia (SPAA) has changed its name to the SMSF Association.

“Since SPAA’s inception we have always worked towards building integrity into the SMSF sector,” said Andrea Slattery, CEO of the SMSF Association.

“It’s critical that the organisation has a name that reflects the importance of the SMSF sector and the breadth of its membership.”

Read More »SPAA changes name to SMSF Association

Rollovers still flowing from large super funds to SMSFs: SPAA

SPAA, SMSF, RolloversRollovers are still a “drain of funds” from APRA-regulated superannuation funds to SMSFs, according to Graeme Colley, Director of Technical and Professional Standards of the SMSF Professionals’ Association of Australia (SPAA).

The latest ATO statistics “conclusively show” that in the five years to 30 June 2013 “$75.6 billion was rolled into SMSFs and only $19.9 billion was rolled out of SMSFs.”

Read More »Rollovers still flowing from large super funds to SMSFs: SPAA

Government supports key principals of superannuation: SPAA

SPAA, SMSF trustee confidence, Government supports key principals of superannuationSMSF trustees can now have “far greater confidence in their superannuation,” according to the SMSF Professionals’ Association of Australia (SPAA).

This comment follows reassurances by the Treasurer Joe Hockey and Assistant Treasurer Josh Frydenberg that the Government supports the key principles of superannuation and the “increased surveillance of the SMSF sector by the ATO and ASIC.”

“The other critical element to assist in building consumer’s confidence that is emerging in our sector is the growth of the SMSF profession. Trustees have access to the quality advice they critically need,” said SPAA CEO and Managing Director Andrea Slattery.

Read More »Government supports key principals of superannuation: SPAA

SPAA endorses PJC proposals to lift financial advice standards

SPAA, Parliamentary Joint Committee (PJC) report on proposals to lift the professional, ethical and education standards in the financial services industryThe SMSF Professionals’ Association of Australia (SPAA) has endorsed the report by the Parliamentary Joint Committee (PJC) on proposals to lift the professional, ethical and education standards in the financial services industry.

Graeme Colley, SPAA’s Director of Technical and Professional Standards, said the association supports any positive moves that improve the professionalism and standards of financial advice, and the PJC report “is certainly a concrete step in that direction”.

“The report’s recommendations embody a common sense approach to lifting the standards of financial advice and protecting consumers.”

Read More »SPAA endorses PJC proposals to lift financial advice standards

SPAA and MLC sign deal on SMSF training and support

SPAA, MLC, NAB, deal for SMSF trainingThe SMSF Professionals’ Association of Australia (SPAA) has announced a deal with MLC to provide SMSF “accreditation, training and support.”

The deal will mean MLC and NAB licensees with SPAA membership will have access to “special NAB Wealth and SPAA training events.”

This deal appears similar to the one SPAA entered into with financial planning dealer group Lonsdale in October.

Read More »SPAA and MLC sign deal on SMSF training and support

FSI report a ‘ringing endorsement’ of SMSFs: SPAA

Financial System Inquiry (FSI), murray inquiry, SPAA, SMSFSMSFs have “received a pre-Christmas gift” with the final report of the Financial System Inquiry not recommending minimum balance requirements or other restrictions on establishing SMSFs, says the SMSF Professionals’ Association of Australia (SPAA).

The “only potential downside,” according to SPAA, in the final report is the ban on limited recourse borrowing arrangements (LRBAs). “No date has been set for the proposal to begin,” said SPAA. If the Financial System Inquiry (FSI) recommendation was adopted in full current borrowings would be allowed to continue.

With wide coverage of the interim report the recommendation of a ban came as “no surprise.”

Read More »FSI report a ‘ringing endorsement’ of SMSFs: SPAA