FPA launches guide on the future SOA
Sarah Kendell
The Financial Planning Association of Australia has released a new digital interactive guide on the future of the statement of advice follow
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‘No guarantees’: Commissioner urges practitioners to temper expectations for ATO systems
Tax practitioners have been asked to accept that the ATO’s systems will never be perfect, as the government hands over $151 million to the
Full Federal Court rules in SGC test case
The Full Federal Court has ruled that horseracing clubs and state racing boards are required to pay superannuation contributions on behalf o
SMSFA unveils 2020 priorities
The SMSF Association will focus on strongly growing engagement with its SMSF trustee membership in 2020, as well as boosting both the techni
‘Visible, valued and owned’: ATO outlines super priorities for new year
The ATO has renewed its commitment to making sure super is “visible, valued and owned” in 2020, naming consolidation of member accounts
ECPI changes looming in 2020
Changes to requirements for calculating exempt current pension income are expected early in the new year, which will potentially remove the
Federal Court makes further orders around SMSF scheme
The Federal Court has made further orders around alleged fraudulent SMSF scheme My Wealth Manager Financial Services, as it emerged the alle
AUASB to update SMSF audit standard
The Auditing and Assurance Standards Board is updating its guidance standard around auditing SMSFs to take note of a raft of legislative and
Advisers should outsource portfolio management: SSGA
A new report has highlighted the business growth potential of advice practices outsourcing their portfolio management as well as the benefit
ATO ruling raises questions around SMSF property improvements
A new private binding ruling (PBR) from the ATO has indicated that improvements to a property owned by an SMSF are not counted as a contribu
SMSF lifestyle asset breaches under the microscope
The ATO has indicated it will be taking a closer look at lifestyle assets such as marine vessels, fine art and high-value motor vehicles in
‘Reasonable expectation’: ATO explains myGovID change
The ATO’s chief digital officer has defended the need to transition to myGovID, arguing that it is a “reasonable expectation” to requi
SMSF adviser accuses banned planner of misrepresentation
SMSF adviser Tim Mackay has accused banned former financial planner Sam Henderson of misrepresenting himself as accredited with the SMSF Ass
Super bills in limbo as new year approaches
SMSF professionals are still waiting on a number of important pieces of legislation promised by the government as the new year approaches, a
Sarah Kendell
Should your SMSF have a corporate trustee or individual trustees?
An SMSF can either have a corporate trustee or individual trustees. We strongly recommend that an SMSF have a sole purpose corporate truste
ATO flags Christmas shutdown for SMSF functions
The ATO has advised SMSF professionals that its systems will be unavailable during the period between Christmas and New Year due to planned
SuperConcepts floats carve-out for NALE laws
SuperConcepts has proposed a carve-out to the ATO’s draft ruling around new non-arm’s length expense (NALE) laws which would allow low-v
Death benefit types affect minimum payments for pensions
When an SMSF member passes away midway through a financial year, the minimum pension payments for that year may not need to be met for the d
TPB readies for register transparency push
The Tax Practitioners Board will soon publish more detailed information about practitioners on its TPB register, as it looks to bed in a rec
Commissioner acknowledges imminent ‘disruptions’ to tax profession
The Commissioner of Taxation has vowed to support tax practitioners through a number of new technological changes that will affect the profe
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