News : Regulation

Compliance & Regulation, Contributions, Downsizer, Legislation, Regulation

Downsizer rules applied strictly

The ownership rules required to be satisfied before an SMSF member can make a downsizer contributions can be inflexible in some scenarios.

The ownership rules required to be satisfied before an SMSF member can make a downsizer contribution can be inflexible in some scenarios.

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ATO, Compliance & Regulation, Documentation, Regulation

Common admin errors revealed

Common errors trustees are making with regard to SMSF annual returns have been recognised and revealed by the sector regulator.

Common errors trustees are making with regard to SMSF annual returns have been recognised and revealed by the sector regulator.

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Compliance & Regulation, Legislation, Regulation

Valuations not key to IHA compliance

The true nature of an in-house asset breach is not about whether the valuation of the holdings involved exceeds the allowable threshold.

The true nature of an in-house asset breach is not about whether the valuation of the holdings involved exceeds the allowable threshold.

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Compliance & Regulation, Legislation, Regulation

Complexity with SMSF loan write-offs

Specific recovery actions have to be taken to prove a private loan from an SMSF will not be paid back and should be written off.

Specific recovery actions have to be taken to prove a private loan from an SMSF will not be paid back and should be written off.

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Regulation, Superannuation

Warning over compassionate release

A joint warning from two industry regulators has been issued to address the inappropriate early release of super benefits on compassionate grounds.

A joint warning from two industry regulators has been issued to address the inappropriate early release of super benefits on compassionate grounds.

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Economy, Investments, Regulation

US rate cut hints at problems

The recent rate cut in the US may be a symptom of deeper economic problems that require investors to consider their exposure to that market.

The recent rate cut in the US may be a symptom of deeper economic problems that require investors to consider their exposure to that market.

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ATO, Compliance & Regulation, Regulation

Failing stipulated pension obligations

Failing to meet the pension payment standards now has more severe consequences from both a tax and administrative point of view.

Failing to meet the pension payment standards now has more severe consequences from both a tax and administrative point of view.

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ASIC, ATO, Auditing, Regulation

More SMSF auditors sanctioned

ASIC, SMSF auditor, Australian Securities and Investments Commission, ATO,

ASIC has cracked down on 17 SMSF auditors who failed to meet their compliance obligations, banning some and imposing various disciplinary measures on others.

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Regulation, SMSF, Superannuation

SMSFs outperform industry rivals

Australian Prudential Regulation Authority, APRA, SMSF Association, University of Adelaide’s International Centre for Financial Services, ICFS, BGL Corporate Solutions, Class,  SuperMate, Dr George Mihaylov,

New research has found SMSFs outperformed APRA-regulated funds over a five-year period and balances continue to shape individual returns.

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