SMSF administrator calls for halt to compliance buck passing between trustees and advisers

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Founding Principal and Director Ravi Subramaniam of Perth headquartered Australian Superannuation and Compliance Limited (ASC) cautions current and would be investors considering an SMSF of the need to be aware of the pitfalls – especially the consequences if their fund fails to be compliant. Commenting further, Subramaniam describes the current situation regarding responsibility for compliance

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SMSF trustees to take centre stage at SPAA’s 2015 National Conference

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Understanding the self-managed super fund lifecycle and knowing how to use that knowledge to benefit clients is the theme of the 2015 SMSF Professionals’ Association of Australia (SPAA) National Conference – the pre-eminent event on the SMSF calendar. The conference, to be held in Melbourne at the Convention and Exhibition Centre from 18–20 February, will be appropriately

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ANZ Wealth joins Monash-CSIRO Super Research Cluster

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The pre-eminent retirement incomes research organisation, the CSIRO-Monash University Superannuation Cluster, has secured another significant private sector backer with the decision by ANZ Wealth to join its ranks. ANZ Wealth will join five other organisations as the key supporters of the $9 million research project that brings together academics from four universities, Monash, Warwick, Griffith and

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ATO confirms SMSF contribution member-test

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The ATO has confirmed the long held view that a rollover/benefit transfer to an SMSF in respect of a member will be treated as a contribution for the purpose of applying the active member test. This test is one of three tests which is used to determine whether a complying superannuation fund has lost its

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SMSF assets hit record $557bn – exposure to ETFs growing

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The assets of Australian self-managed superannuation funds (SMSFs) surged in value to a record $557.1 billion in the June 2014 quarter, according to ATO data released last week, creating a huge opportunity for the local exchange traded funds (ETF) market to attract funds from this sector, according to Arian Neiron, Managing Director of Market Vectors

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SMSF asset allocations a cause for worry? Downturn will hit hard when it comes

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Self-managed superannuation funds’ (SMSFs) investment exposures at the end of the June quarter reveal high equity concentration risks, which leave many retirees vulnerable to an Australian share market downturn, according to Paul Resnik, Co-Founder of FinaMetrica, which specialises in the risk profiling of investors. Data from the Australian Taxation Office (ATO) reveals SMSFs invested $177.6 billion

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No barriers to setting up SMSFs, Xpress Super tells FSI

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There should be no barriers to establishing an SMSF, either educational or fund balance, said Olivia Long, CEO of Xpress Super and Super Guardian, the specialist self-managed super fund (SMSF) administrator, in a submission to the Financial Service Inquiry (FSI). “We would urge the FSI not to impose a minimum of funds under management before

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SMSF critics are winding up the market

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Industry funds expecting to reap the benefits of disillusioned SMSF members winding up their funds and re-joining the APRA-regulated sector are grasping at straws, says SuperGuardian, Xpress Super CEO Olivia Long. Australian Taxation Office (ATO) figures for the five years to 30 June 2013 show that, on average, for every five SMSFs established, one was

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Stop thief! That’s my identity

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Identity theft is a multi-billion dollar problem – and growing. To the extent that financial advisers help guide their clients in protecting against risks, the topic of identity theft is arguably one that advisers can credibly discuss, and not just because financial product communications are often targeted by those by criminal intent. Stories like this

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Number of SMSF members tops one million

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It’s official. The numbers of SMSF members has now topped one million, according to the Australian Taxation Office’s March 2014 SMSF statistical report.  The report shows the number of SMSF members at 1,006,975 – a net gain of 11,384 compared with the 31 December 2013 figure of 995,591. Over the past four years the number

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