News

ATO

ATO issues commutation authority reminder

January 9, 2019

The ATO has issued a reminder to the SMSF sector as to how commutation authorities should be treated and acted upon. The regulator’s clarification came via CRT Alert 086/2018 and was in response to signs it was seeing where additional reporting obligations and adverse outcomes were arising directly from the treatment of commutation authorities. A […]

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Compliance & Regulation

Triennial audit cycle unlikely

January 9, 2019

Malavika Santhebennur

The likelihood of legislation for the three-year audit cycle for some SMSFs passing through Parliament under the current federal government is low given the likelihood the next election will be held in May, according to an SMSF expert. Smarter SMSF chief executive Aaron Dunn said the industry is yet to see any draft legislation on […]

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Direct Domestic Shares, Investments

Red flags raised around bank and mining sectors

January 9, 2019

Jason Spits

Slowdowns in the housing and mining sectors are potential red flags for Australian equities investors, according to investment manager Janus Henderson. In an overview of what may lie ahead in 2019, Janus Henderson head of Australian equities Lee Mickelburough said the slowdown in the Australian housing market, and the tightening of credit standards, was a […]

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Business news

Current imputation refund impost not accounted for

January 9, 2019

Darin Tyson-Chan

The Financial Services Council (FSC) has criticised the premise the Labor Party has used from a government expenditure perspective to justify its proposed policy of banning imputation credit refunds for certain retirees. The council used its submission to the House of Representatives Standing Committee on Economics inquiry on the matter to present a contrary view […]

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Residential Property

End-of-year rise in residential property vacancy rates

January 9, 2019

Darin Tyson-Chan

The latest SQM Research data has shown vacancy rates for residential properties increased during November, led by trends experienced by the capital cities on the east coast of Australia. The figures revealed the national residential vacancy rate jumped from 2 per cent in October to 2.3 per cent in November, with the total number of […]

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Compliance & Regulation

Regulator warns of Coffs Harbour shonks

January 9, 2019

Darin Tyson-Chan

The Australian Securities and Investments Commission (ASIC) has warned SMSF trustees to be wary of spruikers operating in the Coffs Harbour region who are promoting illegal early release of superannuation strategies. The operation involves encouraging individuals to establish an SMSF and roll their existing retirement savings into the new fund. From there, the new trustees […]

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ETFs

SelfWealth set to launch new ETF

January 9, 2019

Malavika Santhebennur

Online broker SelfWealth has announced it has secured $100 million in seed funding from Graham Tuckwell’s ETFS Capital to launch a new exchange-traded fund (ETF), the SMSF Leaders ETF. The SelfWealth SMSF Leaders ETF is expected to list on the Australian Securities Exchange (ASX) in the first quarter of 2019. The product’s portfolio is based […]

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ATO, Compliance & Regulation

ATO issues LCRs relating to legal amendments

January 9, 2019

Darin Tyson-Chan

The ATO has published two new law companion rulings (LCR) on its legal database addressing legislative amendments currently being considered by the federal Parliament. LCR 2018/D10 is a draft ruling revealing how the commissioner will apply the law as determined by the Treasury Laws Amendment (2018 Superannuation Measures No 1) Bill with respect to non-arm’s-length […]

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International Shares, Investments

Rating upgrade for Pan-Tribal fund

January 9, 2019

Darin Tyson-Chan

Research house Zenith Investment Partners has upgraded the rating awarded to the Pan-Tribal Global Equity Fund to highly recommended. According to Zenith, the improved assessment of the offering was based on the high regard it has for the manager’s investment team. “Our conviction in the fund is underpinned by the high regard we hold for […]

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ATO, Compliance & Regulation

ATO gives SMSF sector a healthy assessment

December 10, 2018

Krystine Lumanta

The ATO has given the SMSF sector a clean bill of health amid the super reform challenges as it looks to lift trustee education and literacy in the next 12 months.

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