News

LICs

Perpetual’s first LIC gets recommended rating

Perpetual Investments’ first listed investment company (LIC), Perpetual Equity Investment Company Limited (PIC), aimed at SMSF trustees has received a recommended rating from research houses Lonsec and Zenith.

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ATO

ATO not in favour of reserves

ATO assistant deputy commissioner of superannuation Stuart Forsyth

The Australian Taxation Office (ATO) has expressed its concern over the use of reserves within SMSFs and pointed out advisers need to consider these strategies carefully before recommending their implementation as they add a potentially unwanted layer of complexity to running a retirement savings fund.

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Business news

SPAA joins list of trustee education providers

The SMSF Professionals’ Association of Australia has become the latest industry body to provide an education program for trustees.

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Compliance & Regulation

Level of SMSF gearing worries ASIC

Money being handed over to another person

ASIC has expressed its concern over the latest reported level of limited recourse borrowing arrangements (LRBA) employed by SMSFs due to the risk involved with these strategies.

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Compliance & Regulation

Future trustees need compliance vigilance

Individuals considering establishing an SMSF need to be wary of their compliance obligations and consider carefully who the best service provider is to assist them to meet these responsibilities, a sector administration specialist has warned.

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Investments

SMSFs more at risk as wholesale investors

The recent Australian Securities and Investments Commission announcement signalling its intention to make it easier for SMSF trustees to invest in wholesale financial products will lessen some of the safeguards applicable when these individuals were categorised strictly as retail investors, a specialist law firm has said.

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ATO, Compliance & Regulation

ATO details admin penalty remission appeals process

The Australian Taxation Office has published details of the procedures SMSF trustees can follow if they wish to challenge the severity of a remission decision regarding the new administrative penalty regime for contraventions of the Superannuation Industry (Supervision) Act.

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LICs

Perpetual launches mid-cap LIC for SMSFs

Perpetual believes its first listed investment company (LIC) will attract SMSF trustees with its mid-cap Australian and international shares focus.

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Insurance

New insurance for trustees unveiled

SMSF Insurance Professionals has officially launched an SMSF trustee liability insurance policy covering the cost of trustee liabilities, fund liabilities, civil penalties, and audits and penalties from the Australian Taxation Office.

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Residential Property

Home price rise rate doubles in a year

Property investment specialist Future Estate has reported the median dwelling price of all combined capital cities is now close to $520,000, reflecting a yearly increase of over $25,000.

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Our Story

selfmanagedsuper is the definitive publication covering Australia’s SMSF sector. It uniquely offers online content tailored separately for SMSF professionals and individual trustees participating in the fastest growing and largest sector of the superannuation industry. As such, it is a must read for those wanting to stay informed about the latest news, regulatory developments, technical strategies, investments, compliance, legal and administration issues concerning SMSFs.

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