Category: News articles

Financial advice review leaves accountants out in the cold

First published in the Financial Review on 23 February 2023. The Quality of Advice Review has a lot of good stuff, but the conversation is ongoing for specialist advisers and […]

Transfer Balance Cap set to increase – and benefits for Non-concessional contributions

Following the release of today’s CPI figure by the Australian Bureau of Statistics, the General Transfer Balance Cap (TBC) is set to increase from $1.7 Million to $1.9 Million, from […]

NALE consultation paper released

The Government has today released a Consultation Paper putting forward options to amend the NALI provisions to address the potential for disproportionately severe outcomes for breaches relating to general expenses. […]

Why you need more than just $200,000 to start your own super fund

First published in the Financial Review on 23 January 2023. It’s not only about the starting amount, says the regulator – illustrating the point with two different case studies. For […]

Run your own super fund? This is what to watch out for in 2023

First published in the Financial Review on 27 December 2022. With government proposals to cap large super balances, there are four key issues to consider. There will be no shortage […]

The perils of missing a payment – SMSFs with corporate trustees

The ATO is reminding SMSFs with a corporate trustee to pay their ASIC Annual Review fee or risk severe ramifications. With over 65% of the SMSF population having a corporate […]

ASIC releases updated SMSF advice guidance

On December 8 2022 ASIC released information Sheet 274 Tips for giving self-managed superannuation fund advice (INFO 274). This information sheet is designed to help Australian financial services (AFS) licensees […]

SMSF Auditors Alert – Quality assurance standards commence 15 December 2022

Auditing Standard ASQM 1 Quality Management for Firms that Perform Audits or Reviews of Financial Reports and Other Financial Information, or Other Assurance or Related Services Engagements comes into effect […]

How retirees can save more than $3000 a year

First published in the Financial Review on 1 December 2022. The income threshold for eligibility for a Senior’s Health Card has just been significantly increased in gift to many self-funded […]

When stepchildren miss out on inheritance

First published in the Financial Review on 4 November 2022. An ATO ruling that excludes family members on the death or divorce of their natural parent seems arbitrary in a […]