Call to open up infrastructure investment to all super funds

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The SMSF Association and the Financial Services Council (FSC) are urging the reconstituted National COVID-19 Commission (NCC) Advisory Board and the National Cabinet to expand the role that superannuation funds can play in infrastructure investment as a critical element in generating the economic growth needed to lift Australia out of recession. The SMSF Association and

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Cutting red tape for financial advice will aid economic recovery

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The SMSF Association fully supports the Federal Government’s stated ambition to grow Australia out of debt in the wake of the COVID-19 induced recession – and cutting the red tape that is stifling the financial advice industry should be integral to this goal. Association CEO John Maroney says: “The Government’s measures to help alleviate the

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SMSF specialists thirsty for knowledge sign up for Tech Day

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The SMSF Association Technical Day, being held virtually on 29 July, has attracted more than 700 SMSF specialists and other interested participants who are looking for guidance on the many changes inflicted on their industry by the COVID-19 pandemic. SMSF Association CEO John Maroney says: “We were delving a little into the unknown when we

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SMSF sector loses valued servant with Peter Hogan retiring

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Peter Hogan, Head of Technical for the SMSF Association and a highly respected and revered SMSF specialist, is retiring after four years in the role, effective 30 September. A lawyer by training, Hogan started his career at the Australian Taxation Office (ATO) before working for some of Australia’s largest financial and consulting institutions – he held senior positions

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ATO figures throw fresh light on SMSF operating expenses

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The ATO’s 2017-18 Statistical Overview of SMSFs shows the median “operating expense” of SMSFs is $3,923 a year, a more appropriate indication of their basic operating cost compared with the $13,900 total average expense figure highlighted in a recent SMSF Fact Sheet. SMSF Association CEO John Maroney says: “We welcome this latest data from the ATO on

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Technical Day agenda adds concurrent stream, thought leadership

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The SMSF Association Technical Day will be bigger and better in 2020 – COVID-19 notwithstanding. The addition of a concurrent stream means there will be more sessions delivered than ever before and the line-up of speakers is the most impressive ever assembled for a Technical Day. The virtual event, to be held on 29 July,

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Move to give advisers more time to meet FASEA requirements lauded

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The passing of legislation giving the financial advice profession more time to complete the Financial Adviser Standards and Ethics Authority (FASEA) exam and meet the qualification requirements has the full support of the SMSF Association. The Treasury Laws Amendment (2019 Measures No. 3) Bill 2019, which passed the Senate today with bipartisan support, will give

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SMSF advisers need to be alert to new work test, spouse contributions

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The Government’s commitment to increase the age when the work test starts to apply from 65 to 67 and the age limit for spouse contributions from 69 to 74 before 1 July 2020 has the full backing of the SMSF Association. The amendments to the SIS Regulations give effect to the first two elements of the 2019-20

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SMSF Association appoints Peter Burgess to Exec Role

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The SMSF Association is pleased to announce it has appointed Peter Burgess as Deputy CEO and Director of Policy and Education, effective from 1 June 2020. Burgess worked at the Association as Technical Director for three years before joining the SMSF administrator SuperConcepts in 2013 as General Manager, Technical Services & Education. He also served

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SMSF 2018-19 annual returns deferred to 30 June

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The Australian Tax Office’s announcement yesterday allowing an automatic deferral of SMSF lodgments to 30 June is further evidence of its flexible approach to issues during the COVID-19 (coronavirus) crisis and must be applauded, says SMSF Association CEO John Maroney. “In these very difficult times, we have been able to work constructively with the ATO

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