Productivity Commission correct to focus on advice standards

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The Productivity Commission’s decision to follow the SMSF Association’s recommendations to opt for higher SMSF advice standards and reject the minimum balance approach as the better option for ensuring the integrity and sustainability of the self-managed super sector (SMSF) has been welcomed by the Association. SMSF Association CEO John Maroney says: “In our opinion, the […]

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Professional associations deserve green light on CPD

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Continuing professional development (CPD) that is accredited or delivered by a professional association should automatically be approved by licensees under the new Financial Adviser Standards and Ethics Authority (FASEA) CPD rules, says SMSF Association CEO John Maroney. The Association, in a submission to the FASEA, says the Authority should adopt this position on CPD to […]

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SMSF Association clocks up policy wins in 2018

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The SMSF Association has enjoyed a successful year with its advocacy work, benefiting both its members and the broader self-managed super fund community, says Association CEO John Maroney. “There’s no better example of what the Association has achieved this year than the simplified work test exemption regulations that were introduced by the Government on 7 […]

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National Conference to throw spotlight on Royal Commission

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The findings and recommendations of the Financial Services Royal Commission will go under the microscope at the SMSF Association 2019 National Conference being held at the Melbourne Convention and Exhibition Centre from 20-22 February. SMSF Association CEO John Maroney says with the Royal Commission handing down its final report on 1 February, the timing is ideal […]

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The five-year evolution: what’s the next frontier for SMSFs?

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The adoption of new technology and more education will be critical for the future of SMSF sector, according to an industry expert panel held as part of SMSF Week. The thought leadership panel, hosted by the SMSF Association and the Australian Taxation Office (ATO), was part of the inaugural SMSF Week and regulators and included […]

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FASEA consultation crucial to advice industry  

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The release of the updated guidance on financial advice education and ethical standards from the Financial Adviser Standards and Ethics Authority (FASEA) shows “work remains to be done” to ensure just recognition of existing advisers’ prior learning and education. Commenting on the FASEA Standards Summary, released late Friday, SMSF Association CEO John Maroney says: “This latest […]

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SMSFs facing triple risk to retirement savings: New research reveals opportunity to mitigate

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More than one million Australians with SMSFs are potentially facing three key challenges to their retirement savings because they potentially do not have the right assistance, according to the SMSF Association. A lack of appropriate diversification to mitigate investment risk, an unstable regulatory environment, and returning volatility to investment markets are combining to pose a […]

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Government change on death benefits gets thumbs up

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The Federal Government’s decision to change the law to ensure that death benefits that include life insurance proceeds are not subject to tax when rolled over to a new superannuation fund has been welcomed by the SMSF Association. Announced by the Assistant Treasurer Stuart Robert in his address to the Alliance for a Fairer Superannuation […]

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Labor’s franking credits policy ‘flawed, inequitable’

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The Labor Party’s proposal to abolish refundable franking credits is “flawed, inequitable and fails to meet the policy intent of improving the integrity of dividend imputation for all taxpayers”. The SMSF Association, in its 14-page submission to the Standing Committee on Economics, presents a cogent case against Labor’s proposal, arguing it will result in individuals […]

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Make Limited Recourse Borrowing Arrangements ‘limited recourse’ 

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The SMSF Association is calling for a two-pronged policy change to ensure Limited Recourse Borrowing Arrangements (LRBAs) remain a legitimate retirement savings strategy, especially for small business owners. SMSF Association CEO John Maroney says the Association is aware of the “heightened scrutiny” of LRBAs but remains convinced this borrowing instrument has an appropriate role to […]

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