Major bank to sell accountant-focused advisory firm
Miranda Brownlee
Accounting and advice network CountPlus has announced it will acquire a major bank-owned financial advice group.
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Trustees warned on CGT events with family trust changes
Clients with family trusts should be very cautious when making any significant changes to the terms of beneficiaries of the trust as it coul
Clarity provided on in-specie contributions and unallocated reserves
With 30 June fast approaching, a technical expert has clarified whether there are any issues with making an in-specie contribution to an una
ASIC launches court proceedings over conflicted SMSF advice
ASIC has commenced civil penalty proceedings against an SMSF advice firm in the Federal Court over allegations that it received conflicted r
Federal Court orders removal of corporate trustee
The Federal Court has ordered that a corporate trustee company be removed as trustee of an SMSF and a liquidator be appointed in a case invo
Members in the dark about changes to superannuation insurance
A new survey has revealed that half of all Australians are unaware of the changes to default insurance in super for inactive accounts, which
Adviser demand for technology, data science courses on the rise
With automation and big data now playing a much bigger role in the advice space, financial advisers are increasingly looking at courses in d
APRA fund transfer process expected to cut SMSF admin burden
By adopting the same method used by APRA-regulated funds for transferring pensions from one fund to another, it’s possible that SMSFs may
Practitioners cautioned on liability risks with reviewing insurance
SMSF professionals outside the AFSL regime need to disclaim their position very carefully when helping clients meet the requirements under r
Incorrect determinations issued following system error
While the taxpayers who incorrectly received excess determinations for non-concessional contributions have been given an extension for their
SuperConcepts announces new appointments to leadership team
SMSF administration firm SuperConcepts has made two new appointments to its leadership team, including general manager of growth and general
Law firm announces plans to launch class action over super fees
A law firm intends to launch a class action against the trustee of a bank-owned superannuation fund for fees which it claims were used to pa
ASIC permanently bans adviser over inappropriate SMSF advice
An adviser has received a permanent ban from providing financial services after ASIC surveillance found they had failed to act in the best i
RBA makes cash rate call for June
Following speculation about a potential cut to the official interest rate, the Reserve Bank of Australia has now handed down its decision fo
Former accountant sentenced for defrauding SMSF investors
A former accountant has been sentenced to six years’ imprisonment for defrauding investors, including SMSF clients, of approximately $815
ATO reports back on late lodgement swoop for tax agents
The ATO says that millions of dollars in revenue has been recouped following a crackdown on thousands of tax practitioners who had fallen be
CGT strategy highlighted with work test exemption
SMSF clients may be able to utilise the work test exemption which allows older Australians to make contributions in the year after they reti
ASIC bans adviser over SMSF property, loans advice
A Gold Coast adviser has received a five-year ban from providing financial services after surveillance conducted by ASIC found he had failed
Class action filed against AMP over super fees
Maurice Blackburn has filed a class action seeking compensation for AMP superannuation fund holders based on allegations that AMP charged un
Loans to unrelated trust or companies to ‘invite auditor scrutiny’
SMSFs with loans to unrelated trusts or companies may attract greater audit scrutiny where they fail to provide satisfactory evidence about
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