SMSF licensed advice needs in-depth review

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The independent Review into the effectiveness of the Tax Practitioners Board (TPB) provides an opportunity to identify some of the impediments in the regulatory advice system that prevents SMSF trustees from getting basic SMSF advice. SMSF Association CEO John Maroney says: “However, we believe that to get the right regulatory structure for SMSFs is probably a […]

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Government strikes right balance with timing of reforms

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The Federal Government has struck the right balance between improving financial advice standards and giving the industry the necessary time to adjust, says SMSF Association CEO John Maroney. “The Government’s announcement that it will continue implementing reforms to build trust in financial advice as a true profession is welcomed. “But allowing the industry an extra […]

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Tim Costello steps down as Patron of the SMSF Association

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The Reverend Tim Costello AO is stepping down as Patron of the SMSF Association. Costello, who succeeded Sir Anthony Mason, a former Chief Justice of the High Court of Australia, in the role in August 2017, is resigning for personal reasons. Speaking on behalf of the Board, Association Chair Dr Deborah Ralston says: “The Association is indebted […]

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ASIC’s tough line on auditors gets tick of approval

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The SMSF Association fully supports the decision by ASIC to disqualify or add conditions to the registration of 17 auditors of self-managed superannuation funds (SMSFs). Association CEO John Maroney says: “The action taken by the regulator to disqualify three SMSF auditors and impose conditions on the registration of another 14 where their work failed to […]

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Rising SMSF establishment balances ‘strong evidence’ advice improving

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There has been a sharp increase in the average and medium establishment balances for self-managed super funds (SMSFs) – clear evidence that the quality of advice to the SMSF sector is improving and the key takeaway from the SMSF Associations Review of the Australian Tax Office’s SMSF Statistical Overview 2016-17. The statistics show that the […]

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Specialist adviser Scott Hay-Bartlem appointed to SMSF Association Board

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The SMSF Association has appointed Brisbane law firm Cooper Grace Ward Partner and SMSF Specialist Adviser Scott Hay-Bartlem to its Board from 1 July. Hay-Bartlem, a chartered tax adviser and member of the Society of Trust and Estate practitioners who specialises in issues such as tax and superannuation and estate planning, is the third Specialist […]

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Impressive list of speakers lined up for SMSF + Investor Expo

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The SMSF Association has lined up an impressive list of speakers for its second SMSF + Investor Expo being held at the Melbourne Convention and Exhibition Centre on 21-22 June. Heading the list on 21 June will be the Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator the Hon Jane Hume, who can be […]

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Life insurance risk for SMSF members in APRA funds

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Some self-managed super funds (SMSFs) are at risk of losing their life insurance cover under new legislation that takes effect on 1 July 2019, warns the SMSF Association. The legislation, enacted in February this year, states that members of APRA-regulated funds with “inactive” superannuation accounts for 16 consecutive months will lose their life insurance cover […]

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Shadow economic team shows commitment to policy development

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The appointment of five Shadow Ministers to the Labor Party’s economic portfolios shows a genuine commitment to policy development that has been welcomed by the SMSF Association. Association CEO John Maroney says: “We congratulate the new appointments to the Shadow Opposition economic portfolios, welcoming Dr Jim Chalmers as Shadow Treasurer, Katy Gallagher as Shadow Minister […]

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Government’s super, financial services focus gets tick of approval

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The appointment of two new ministers to the Government’s economic team, Senator Jane Hume as Assistant Minister for Superannuation, Financial Services and Financial Technology, and Michael Sukkar as Assistant Treasurer, has been welcomed by the SMSF Association. Association CEO John Maroney says these appointments, coupled with the return of Josh Frydenberg as Treasurer and Senator […]

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