SMSFs exemption from retirement income strategy legislation gets thumbs up

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The SMSF Association has thrown its in principle support behind the Government’s decision to remove SMSFs from the legislative requirement for trustees to develop a retirement income strategy for fund members. Commenting on the release of the draft legislation that will introduce a requirement for APRA regulated fund trustees to develop a retirement income strategy

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Major education partnerships announced to enhance SMSF Professionalism

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The SMSF Association has announced two new major education pathways for its coveted SMSF Specialist Advisor designation (SSATM). The SMSF Association has entered into new partnership agreements with Kaplan Professional and Deakin University that will enable students to complete the SSA educational requirements as an elective unit in their respective Master of Financial Planning degrees.

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Financial services industry invited to join the 2021 Household Capital Three Pillars Forum 

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The 2021 Household Capital Three Pillars Forum will be hosted by Ali Moore and broadcast on September 16 from 9.30am to 1.30pm. Entry to the online event is free of charge and professionals from the financial services and retirement industries are invited to attend. This year the forum has grown to encompass three separate panel

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Caution urged on 20% threshold proposal for auditor referral fees

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The SMSF Association is urging caution on introducing a 20% threshold for auditor referral fees as outlined in the Accounting Professional & Ethical Standards Board’s draft amendments to the APES 110 Code of Ethics for accountants. SMSF Association CEO John Maroney says: “We are concerned that introducing a threshold will become a dominant focus of these draft amendments

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ASIC levy relief for advisers gets thumbs up

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The SMSF Association welcomes the Federal Government’s decision to provide temporary and targeted relief on ASIC levies for financial advisers. The decision means the ASIC levies charged for personal advice to retail clients will be $1,142 per adviser – the 2018-19 level – for the next two years (2020-21 and 2021-22). The flat per licensee charge

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Measured approach needed to retirement income covenant

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The SMSF Association is calling for a measured approach to the introduction of the proposed retirement income covenant for superannuation fund trustees. In response to Treasury’s recent position paper, the SMSF Association says it welcomes measures that seek to increase member engagement with their superannuation and, importantly, planning for their retirement. However, it is essential

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Technical Summit agenda hits the right notes for SMSF specialists

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The SMSF Association’s annual Technical Summit is always replete with topical issues presented by industry experts – and this year’s virtual event is no different. Association CEO John Maroney says SMSF specialists will have no shortage of quality material to digest at the Technical Summit being held on 28 July, with three sessions of particular

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SMSF Association welcomes release of the 2021 Intergenerational Report

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“The intergenerational report (IGR) clearly illustrates the importance of building superannuation savings to offset the growing liabilities related to an aging population”, according to John Maroney, CEO of the SMSF Association. Australia’s superannuation assets are already the 4th largest pool of such assets in the world. The IGR forecasts that asset pool will increase from

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SMSF member increase to provide greater flexibility and choice

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The Parliament has passed legislation allowing an increase in the maximum number of SMSF members from four to six – a Federal Government initiative the SMSF Association welcomes. If the Bill receives Royal Assent by 30 June 2021, this measure will take effect from 1 July 2021. SMSF Association CEO John Maroney says: “As we

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Single advice disciplinary body gets SMSF Association’s support

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The SMSF Association has thrown its support behind the establishment of a single advice disciplinary body, calling it a critical reform for the financial advice sector. SMSF Association CEO John Maroney says: “We support the policy intent to simplify the regulatory environment for financial advisers. The changes, set to take effect on 1 January 2022,

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