From theabj.com.au: The Coalition has proposed a policy allowing first-time home buyers to access up to $50,000 from their superannuation savings for a home deposit, similar to New Zealand’s KiwiSaver model.… read more
From www.smsfadviser.com: Two conflicting Private Binding Rulings addressed whether a surviving spouse can expect to benefit from a superannuation death benefit paid to the estate of a deceased member if the spouse dies before the benefit is paid.… read more
From www.khq.com.au: On 13 February 2025, the Scams Prevention Framework Bill 2025 passed Parliament, establishing a multi-regulator framework to prevent and respond to scams, initially focusing on banks, telcos, and social media companies.… read more
From www.smsfadviser.com: The SMSF Association is urging the government to amend legislation regarding wholesale investor rules as they apply to SMSFs, citing significant legislative uncertainty.… read more
From www.investordaily.com.au: The Senate has rejected a motion to discharge a controversial $3 million superannuation tax bill, which is anticipated to become an issue in the upcoming election campaigns.… read more
From morningstar.com.au: Morningstar’s research reveals that even the well-off lack financial security, with 30% of satisfied individuals having inadequate emergency savings.
The study emphasizes the importance of emergency savings and subjective perceptions of financial security, suggesting investors regularly assess their savings adequacy and consider their feelings about financial security in their plans.… read more
From smsfassociation.com: The recent study from the University of Adelaide’s International Centre for Financial Services reveals that Self-Managed Super Funds have outperformed APRA-regulated funds over a five-year period.… read more
From prosolution.com.au: Co-investing in property with superannuation can help asset-rich, cash flow-poor individuals enhance their investment capacity by allowing them to purchase higher-quality properties.
This strategy requires ownership of the property as tenants-in-common, where the super fund contributes a portion of the purchase price and the individual borrows against equity in other properties for their share.… read more
From www.smsfadviser.com: A recent legal case highlighted the interaction between the carry forward of unused concessional contributions cap space and the Division 293 tax clawback.… read more
From www.smsfadviser.com: The Financial Services and Credit Panel has issued a two-year registration prohibition order against a financial adviser for recommending clients establish SMSFs.
The FSCP found that the advisor exhibited systemic conduct that demonstrated a lack of care and competence, contravening the best interest duty and making misleading statements.… read more
From morningstar.com.au: Investment strategies such as strategic vs. tactical asset allocation and core/satellite investment approach are discussed, highlighting their uses, risks and the influence of emotions on decision-making.… read more
From www.smsfadviser.com: Advisers and accountants must understand the relationship between transfer balance account reporting and minimum pension payments.
A common mistake in transitioning to a pension income stream is failing to meet minimum payment requirements, which can affect eligibility for exempt current pension income and requires specific reporting adjustments.… read more
From www.smsfadviser.com: Smaller cryptocurrencies can pose challenges for audits as more newly established SMSFs invest in them, especially as the 28 February deadline for annual returns approaches.… read more
From fsc.org.au: A nationwide poll commissioned by the Financial Services Council reveals that Australians overwhelmingly distrust the Albanese Government regarding superannuation taxes, with significant concerns about potential future tax changes if the party is re-elected.… read more
From bdo.com.au: APRA-regulated superannuation funds are under increased scrutiny to implement robust strategies against scams, with investment scams being a major concern in Australia.
Scammers target both the funds and their members and there are anti-scam measures that funds and trustees must adopt to protect their customers.… read more