News

Auditing

Auditor review leads to ASIC referrals

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, ATO, auditor reviews, referrals, ASIC, compliance action, auditing and assurance standards, audit evidence, independence requirements

The ATO has referred 41 SMSF auditors to ASIC as a result of its review into the practices of more than 200 of these professionals.

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Division 296, Superannuation, Tax

Retirees disappointed with Div 296

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Division 296, Australian Independent Retirees, unrealised capital gains, Wayne Strandquist, non-liquid assets

The government’s unrelenting position to not make any changes to the proposed Division 296 tax legislation is causing anguish among retirees.

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International Shares, Investments

Europe shift not short-term trend

ECP Asset Management, Annabelle Miller, European investment, US exceptionalism, capital allocation

The global political environment is causing a reallocation of investments around the world, with Europe looking to attract more local and overseas investors.

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Investments, Technology

App for children’s investments launched

Fixed-income, Blossom, Blossom for Kids, managed fund accounts, bonds, Gaby Rosenberg

A new facility has been introduced into the market allowing parents to invest for their children before they reach the age of 18.

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Death Benefits

Death benefit payment timeframe dumped

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, death benefit, payment, audit, Institute of Financial Professionals Australia, IFPA, Natasha Panagis, six-month rule, ATO guidance

The ATO’s guidance suggesting a timeframe of six months is the definition of ‘as soon as practicable’ for death benefit payments has been removed.

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Compliance & Regulation

Court hands down Mayfair 101 decision

ASIC, Federal Court, Mayfair 101, James Mawhinney, contraventions, Rhys Roberts, Roberts Gray Lawyers

The Federal Court has ruled against Mayfair 101 Group director James Mawhinney in several allegations made by ASIC with regard to the organisation’s conduct.

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Investments

Nvidia the best-performing tech firm

Nvidia, profitability, Global X, Billy Leung, Alphabet, Microsoft

Nvidia is the most profitable US technology company in terms of cash generated per employee, outperforming rivals Alphabet and Microsoft.

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Investments

Look beyond common share strategies

TenCap, Jason Todd, Australian shares, long-only, long-short, Jun Bei Liu, Australian Securities Exchange, ASX

Undervalued shares in the ASX 200 can still be useful for investors who have adopted a long-short strategy to benefit from market gains and losses.

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Administration, Division 296, Investments, SMSF

Div 296 does not change valuation rules

The asset valuation rules currently applicable to SMSFs will remain unchanged after the Division 296 tax is implemented.

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Estate Planning, Retirement, SMSF, Strategy, Succession Planning, Superannuation

Disability amplifies authentication process

It is imperative for an SMSF to have a signature authentication process in place to mitigate the risk associated with disability or death.

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