ATO

SMSF

There were around 13,000 fewer wind-ups of self-managed super funds in FY21 than in the previous year with the number falling to just over 2,000, according to the Austral...

Superannuation

Govt passes spousal super reform

The legislation will improve visibility of superannuation assets in family law proceedings, allowing the Australian Taxation Office to release super information in family...

Superannuation

YFYS a learning curve for APRA

The prudential regulator is open to improving the system, particularly as it expects to include Choice products next year, but it wants to keep it simple for consumers....

Superannuation

ATO open for SMSF member increases

Trustees of self-managed superannuation funds will now be able to add a fifth and sixth member, after the Australian Taxation Office suffered administrative delays. ...

Financial planning

ASIC bans two advisers for five years

The two advisers used a website to attract clients to help them find lost super, but are not adequately trained or competent to provide financial services....

Tools & guides

Using property in an SMSF

Property development might be an attractive option for self-managed super funds but it can lead to a compliance minefield if done incorrectly, Andrew Yee writes....

Superannuation

Temporary delay to SMSF member increase

Advisers have been advised to refrain from making changes to increase the number of members in self-managed super funds due to an implementation delay by the Australian T...

Superannuation

Six orgs call for urgent passage of family law super changes

HESTA, Women in Super and the Australian Institute of Superannuation Trustees are among the organisations who have requested the Government pass the legislation with urge...

Financial planning

Single disciplinary body welcomed

The introduction of the single disciplinary body as part of the Better Advice Bill will lift standards as it will be individual advisers who have to register themselves a...

Financial planning

Advice industry hampered by lack of innovation

Financial advisers have been making more of a distinction between accumulation and decumulation portfolios but these approaches are largely ad-hoc with little way of indu...

Policy & Regulation

ATO concerned about cryto tax dodging

The Australian Tax Office is concerned taxpayers might believe their crypto gains are tax free, as interest in the asset has risen in recent times. ...

Policy & Regulation

Treasurer’s office insists ASIC will have more, not less staff

Treasurer Josh Frydenberg’s office is arguing that the Australian Securities and Investments Commission has not missed out on staffing resources in the Budget. ...

Policy & Regulation

Budget points to fewer staff within ASIC

While the other regulators grew their staff numbers, the Budget papers point to a net loss for ASIC. ...

Superannuation

Increases to super contribution caps announced

Concessional contributions will see a $2,500 rise, non-concessional contributions a $10,000 rise, and a $100,000 rise for the transfer balance cap....

Policy & Regulation

ASIC urged to use ATO and super to reunite unclaimed remediation monies

Superannuation funds would rather see unclaimed remediation money directed away from charities and consumer groups and towards client’s superannuation accounts via the AT...