News

ATO

SMSF wind-up guide released

July 15, 2022

The ATO has released a guide to assist SMSF trustees in winding up their funds and is encouraging them to plan ahead for this event.

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Economy

Inflation won’t mirror 1970s

July 15, 2022

Darin Tyson-Chan

Certain current-day factors are likely to guard the economies of the world from experiencing sustained high levels of inflation.

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ASIC, Auditing

Eight auditors fall foul of ASIC

July 15, 2022

Jason Spits

ASIC has taken compliance action against a further eight SMSF auditors by deregistering five and imposing conditions on three between March and June this year.

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Investments

Market bottom still to come

July 15, 2022

Jason Spits

The bottom of the current market downturn has yet to arrive, meaning investors need to seek stability ahead of outperformance.

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Contributions

Review of salary sacrifice needed

July 15, 2022

Tia Thomas

Unadjusted salary sacrifice amounts could result in breaches of the concessional contributions cap due to the recent increase to the SG.

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Investments

Maple-Brown Abbott launches small-cap fund

July 15, 2022

Tia Thomas

Maple-Brown Abbott has launched a fund focusing on undervalued small companies with the ability to generate strong medium-term earnings.

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ATO

TBAR timeframes changed

July 1, 2022

Tia Thomas

The ATO will streamline the transfer balance account reporting period from 1 July 2023 and reduce the timeframe for SMSFs.

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Documentation

Greater importance for property documentation

July 1, 2022

Darin Tyson-Chan

Standard documentation practices for proof of ownership regarding SMSF properties have a taken on different implications due to a NSW law amendment.

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Cryptocurrency

Cryptocurrency theft rises significantly

July 1, 2022

Darin Tyson-Chan

The average dollar amount of stolen cryptocurrencies has jumped significantly in 2022 despite the fall in value of these assets this year.

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ASIC, Investments

ASIC penalises SMSF admin firm

July 1, 2022

Tia Thomas

Squirrel Superannuation Services has been ordered to pay a penalty after ASIC found it falsely marketed investment returns for residential property held via SMSFs.

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