News : Regulation

LRBAs forcefully defended

June 17, 2024

SMSF Association LRBA Division 296 tax Greens self-managed super limited recourse borrowing arrangements

The ability for SMSFs to use limited recourse borrowing arrangements has been defended amid renewed calls from some politicians to ban them.

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ASIC, Regulation

SMSF fees see Macquarie fined

ASIC Macquarie Bank SMSF Ross Andrew Hopkins Cash management accounts

May 6, 2024

Todd Wills

Macquarie Bank has been ordered to pay $10 million in fines after failing to prevent unauthorised fee transactions from its clients’ SMSF accounts by a third party.

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Compliance & Regulation, Regulation

Consumer compensation scheme in operation

CSLR AFCA Financial services industry Financial complaints

April 8, 2024

Todd Wills

The Compensation Scheme of Last Resort for unpaid monies from AFCA determinations is now operational for consumers to use.

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Regulation, Superannuation

Super objective bill released

Objective of superannuation draft legislation

September 8, 2023

Todd Wills

Treasury has released a draft exposure bill outlining the objective of the superannuation system, which will include a requirement for future policies to show how they align with the objective.

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Investments, Regulation, Tax

ASA welcomes franking credit decision

June 16, 2023

Todd Wills

The Australian Shareholders’ Association believes the proposal to limit franking credits from capital raisings is unnecessary and requires clearer guidance to avoid unintended consequences.

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Regulation, Superannuation, Tax

Govt adamant about super tax elements

June 2, 2023

Jason Spits

The superannuation earnings tax is all but locked in and highly unlikely to change, with officials stating key aspects were non-negotiable.

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Investments, Regulation

MIS regulations to be reviewed

March 24, 2023

Darin Tyson-Chan

After being introduced over 20 years ago, the regulatory framework for managed investment schemes will be reviewed this year.

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Regulation

Consumer protection being bolstered

March 10, 2023

Darin Tyson-Chan

The compensation scheme of last resort (CSLR) is closer to being operation with bill establishing it tabled in parliament this week.

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Regulation

SMSF BDBNs in the clear

June 17, 2022

Jason Spits

BDBNs within an SMSF are not subject to lapsing rules, according to a High Court ruling that follows four other legal cases with similar findings.

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Regulation, Superannuation

Superannuation balance cap position applauded

March 11, 2022

Darin Tyson-Chan

Labor’s commitment not to introduce a superannuation balance cap should it form government later this year has been applauded by the SMSF Association.

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