Key points 27% of members see merging with a larger fund as a positive outcome compared to 11% who see it as a negative. The majority are indifferent The few who hold a negative sentiment towards mergers are most concerned about potential negative impacts on fees and returns Some (18%) oppose re-branding post merger, citing... Read more continue reading
15
Jun
2021
What happens when a trustee places the beneficiary’s money into their own account? Trustees are under a multitude of responsibilities when it comes to managing the trust. One particularly important responsibility is the trustee’s duty to keep the trust assets separate from their own assets. This duty has been described as ‘a hallmark duty of... Read more continue reading
09
Jun
2021
From 1 July 2021, if a non-arm’s-length capital gain is made by a segregated current pension asset on or after 1 July 2021, it will be treated as non-arm’s length income (“NALI”), meaning that it will be taxed at the highest marginal rate of 45% under section 295-550 of the Income Tax Assessment Act 1997 (“ITAA97”). This... Read more continue reading
04
Jun
2021
Superannuation fund trustees facing the prospect of an annual performance test under the Government’s proposed Your Future, Your Super changes face a very difficult choice when selecting fund managers, says Whitlam Zhang, manager research and strategy at Parametric. “Active managers will have to substantially reduce their risk budgets, compared with the way things work now.... Read more continue reading
03
Jun
2021
1. Budget 2021 super changes – overview The 2021 Budget can be summarised in one line – as a great budget for superannuation. The Budget sets out major beneficial changes for superannuation covering both contributions, legacy superannuation products, first home super saver scheme and residency issues for SMSFs. The contribution rules changes are: Downsizer contributions... Read more continue reading
01
Jun
2021
Local Government Super (LGS) has announced it has rebranded as Active Super, while also reducing member administration fees and removing the switching fee, effective 1 July 2021. Active Super Chief Executive Officer Phil Stockwell said the name change was part of a broader strategy to place the award-winning industry super fund in a stronger position... Read more continue reading
26
May
2021
WealthO2 has lowered the administration fee on its Super Simplifier by 3.3 basis points, capping fees at $1760 per member or $3630 across six family members, effective 1 June 2021. This reduction comes as more advisers are adopting WealthO2’s Super Simplifier into their practice, creating scale benefits that WealthO2 is passing on to members, says... Read more continue reading
25
May
2021
In the world of superannuation, a few key changes have taken place over the past month that will impact superannuation strategies in the lead up to 30th June 2021 and beyond. Increase in concessional contributions cap after 1 July 2021 The concessional contributions cap will increase from $25,000 to $27,500. Contributions included in this cap... Read more continue reading
24
May
2021
A new report[1] from social researcher Dr. Rebecca Huntley, commissioned by Aware Super, highlights the cost of Australia’s inaction on climate change and calls for the Federal Government to add substance to rhetoric by committing to net zero by 2050. The report, titled Building back better: the intersection of climate solutions, healthy people, and thriving... Read more continue reading
11
May
2021
Earn CPD Points
CPD: The overlooked art of good governanceDoes your Outsourced CIO fit within your governance structure and [...]
CPD: Advice practice sustainability - a risk management perspectiveFinancial advice in Australia is facing a sustainability challenge. Caught [...]
CPD: Ethics and your elderly clientsThe COVID-19 pandemic not only caused older Australians to worry [...]
CPD: The next big ESG three - the emerging responsible investing sectors that balance altruism with financial rewardWith ethical or socially responsible investing becoming enshrined in the [...]
CPD: Trend following strategies and crisis alphaTrend following strategies capture upward and downward trends in traditional [...]
0 comments