News

ATO

ATO clarifies pension commutation rules

Tim Miller, founder of Miller Super Solutions.

The ATO has issued Practical Compliance Guideline (PCG) 2017/5 demonstrating the approach it will take in regard to the commutation of pensions for the 2017 financial year in an effort to comply with the newly imposed $1.6 million transfer balance cap.

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Compliance & Regulation

Draft LRBA legislation released

Treasury has released draft legislation indicating how SMSF assets being held under a limited recourse borrowing arrangement (LRBA) will be included against a member’s total superannuation balance.

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Strategy

Capacity constraints hit local market-neutral funds

The ability for investors to make a portfolio allocation to managed funds offering market-neutral strategies is reducing, according to Zenith Investment Partners.

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LICs

Global listed infrastructure not just bond proxy

By Sovereign yields around the world are climbing on the back of rising inflation expectations and recent political events, but higher interest rates do not correlate to lower returns for infrastructure stocks, according to an AMP Capital white paper.

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Compliance & Regulation

Shorten’s LRBA ban for SMSFs “ill-conceived”

Opposition leader Bill Shorten’s suggestion that a ban on the use of direct borrowing by SMSFs should be revisited to help cool an overheated housing market has been labelled a poor attempt to attack the sector as statistics show no link to systemic risks.

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Documentation

Reversionary terms not properly documented

Many existing SMSF trust deeds may not include clearly stipulated terms required for funds to properly deal with reversionary pensions under the incoming superannuation rules, according to a technical expert.

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Investments

Global disruption fund achieves four-star rating

The Loftus Peak Global Disruption Fund, covering listed global equities on major stock exchanges, has been awarded a four-star superior investment-grade rating following an independent review by SQM Research.

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Business news

Expectation management fundamental to adviser’s role

Delivering on client expectations in regard to portfolio construction and investment diversification is the key objective SMSF advisers are looking to achieve, whether through traditional face-to-face advice or via the emerging online automated model.

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Business news

Folkestone unveils new development fund

Listed real estate fund manager Folkestone has launched a property development offering beginning with an 80 per cent investment in a site approved for residential subdivision in the Melbourne suburb of Wollert.

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Strategy

Borrowing to contribute has some merit

The dramatic reduction in the superannuation non-concessional contributions caps to be introduced on 1 July has given some merit to the strategy where an individual puts borrowed money into their retirement savings vehicle, a senior accounting executive has said.

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