News

LICs

SMSFs drive LIC launch

Absolute return investment manager Monash Investors has launched a listed investment company (LIC) on the back of demand for directly held investments from SMSF trustees.

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Business news, Compliance & Regulation

Fraudulent SMSF accountant charged

A former SMSF accountant has appeared before Sydney’s Downing Centre Local Court, charged with 23 criminal counts, including 12 counts of making false and misleading statements, following an ASIC investigation.

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ATO

ATO extends dividend stripping olive branch

Olive branch.

The Australian Taxation Office has announced it will contact SMSF trustees who have fallen foul of the dividend stripping arrangements as defined in Taxpayer Alert 2015/1 (TA 2015/1), allowing them to correct the tax positions of their funds without penalty.

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Compliance & Regulation

Collectables deadline looming

SMSFs holding collectables or personal use assets have been prompted to ensure they are able to meet the new rule conditions commencing 30 June in order to remain complying.

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Economy

Consumer spend spearheads China prospects

The diminishing role of investment in China’s gross domestic product and the increasing part consumer spending is playing in the country’s economy are creating investment opportunities in new sectors.

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ETFs

Stage set for act two in ETF evolution

The Australian exchange-traded fund (ETF) market is set for its next stage of development in 2016, a specialist fund manager has predicted.

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Business news

SMSFA launches trustee initiative

The SMSF Association has launched an online knowledge centre for SMSF trustees.

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Compliance & Regulation

ASIC imposes auditor crackdown

A gavel.

The Australian Securities and Investments Commission (ASIC) has intensified its compliance activity in regard to SMSF auditors, taking punitive action recently against three registered practitioners operating in the sector.

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Business news

Chi-X makes play for SMSF sector

Alternative trading platform Chi-X Australia has several plans in the pipeline specifically targeted at the SMSF sector, including warrants and indices to create exchange-traded funds (ETF).

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Economy

Commodities recovery on the way

The latest research from brokerage house Invast Australia has forecast the possibility of a recovery in commodity prices in the first half of 2016.

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