News

Documentation

E-signature complexities highlighted

electronic signature

SMSF trustees and their advisers need to exercise meticulous attention to detail when looking to electronically approve documents for a fund.

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Economy

Recession a highly probable outcome

Australian economy recession

The Australian economy is most likely headed for a recession due to increasing levels of inflation and the actions of central banks to fight them.

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Tax

Div 293 tax is a personal liability

Division 293 tax

Proper procedures must be followed when an individual chooses to have their SMSF make a payment for a Division 293 tax assessment.

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Investments

60/40 portfolio a good starting point

Investors can look at a portfolio consisting of a 60 per cent weighting to equities and a 40 per cent weighting to bonds as a good starting point.

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Auditing

Six SMSF auditors penalised

SMSF auditors

ASIC has taken action to remove five SMSF auditors from practice and imposed conditions on another auditor following referrals from the ATO.

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ETFs

Examine ETF holdings closely

ETF shares

ETF investors should examine what is in each fund to avoid concentrations of shares with other directly or indirectly held investments.

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Business news

Risk low with LRBAs

LRBAs low risk

A group of government regulators have found LRBAs do not pose any significant risks to the superannuation sector.

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Superannuation, Tax

Labor to review super tax concessions

superannuation tax concessions

The new Labor government has confirmed a review of the tax concessions contained within the superannuation system is one of its policy objectives.

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Australian Shares

Australian dividends take another hit

Australian dividends

Australian company dividends fell significantly in the third quarter of 2022, driven by a fall in the performance of the mining sector.

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Superannuation

Super limit opposed again

superannuation balance cap

The possible move by the government to impose a cap on superannuation balances has met with opposition from another industry body.

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