News : Compliance & Regulation

Crowd source funding legislation set for 2015

December 11, 2015

The federal government has announced it will introduce crowd source equity and debt funding legislation before the end of the calendar year to allow more individual retail investors, such as SMSF trustees, greater opportunities to participate in financing and expanding Australian businesses.

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Compliance & Regulation

Industry applauds LRBA decision

November 6, 2015

Krystine Lumanta

The federal government has announced it does not agree with the Financial System Inquiry’s recommendation to prohibit limited recourse borrowing arrangements by superannuation funds.

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Compliance & Regulation

Court confirms super splitting can’t involve third party

November 6, 2015

Darin Tyson-Chan

A recent decision handed down by the Family Court of Australia has confirmed superannuation assets cannot be split for the benefit of a third party.

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Compliance & Regulation

Collectables require action now

November 6, 2015

Krystine Lumanta

SMSFs holding collectables need to ensure they are compliant under the incoming regulations applicable from 1 July 2016, as the deadline did not leave much time for planning due to the nature of those assets, according to a specialist SMSF lawyer.

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Compliance & Regulation

Govt to take measured LRBA approach

August 28, 2015

Darin Tyson-Chan

Assistant Treasurer Josh Frydenberg has given a clear indication the government will be addressing the Financial System Inquiry recommendation for a total ban on limited recourse borrowing arrangements within SMSFs in a considered fashion and will not pander to the hysteria surrounding the situation.

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ATO, Compliance & Regulation

ATO better defines residency rules

August 28, 2015

Krystine Lumanta

The ATO has recently clarified its position on residency rules applied to an Australian superannuation fund.

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ATO, Compliance & Regulation

LRBA tax treatment improved

August 5, 2015

Darin Tyson-Chan

Legislation clarifying and consolidating the tax treatment of limited recourse borrowing arrangements (LRBA) has been introduced into Parliament.

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Compliance & Regulation

DBA Lawyers working on QROPS solution

July 7, 2015

Darin Tyson-Chan

SMSF legal firm DBA Lawyers is working on a solution to allow SMSF trustees to accept United Kingdom pension fund transfers under the Qualifying Recognised Overseas Pension Scheme (QROPS) rules.

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Compliance & Regulation

New education platform for SMSF trustees

July 7, 2015

Darin Tyson-Chan

SMSF trustees and advisers now have access to a new education platform aimed at keeping them up to date with the latest developments in the sector.

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Compliance & Regulation

No new taxes on superannuation, for now

Close-up of hands shuffling a pack of cards

May 29, 2015

The federal government kept its promise that there would be no new taxes on superannuation in this year’s budget, however, the Financial Planning Association (FPA) warned it might not be long before the situation changed.

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