As per recommendations in the Cooper Review, The Institute of Chartered Accountants Australia (ICAA) will ask for a review of SMSF superannuation borrowing. Given the concerns of major regulators, the ICAA will ask for a review of the appropriateness of superannuation fund borrowing. Upon deciding...
Originally introduced to the Australian House of Representatives in late 2012, members of Parliament will vote a bill that (under The Superannuation Legislation Amendment Bill) aims to give the ATO more flexibility and new penalty powers when dealing with non-compliance among SMSFs. But, in July...
Since the findings by ASIC which concluded that there was a great deal of poor advice provided to SMSF investors with the intentions of shifting into residential properties, it has became a priority to ensure SMSF lending for any property investments retains the core confidence...
If you don’t have a Binding Death Benefit Nomination (BDBN) and are a member of an SMSF, you most certainly should. After all, the total balance or insurance proceeds could be your most valuable asset of your superannuation. However, you may be surprised to know...
SMSF trustees, also typically members, must now give more consideration to insurance needs to protect the interest of all persons involved due to the new government regulations. Paragraph 4.09 of the new SIS Regulations requires that a trustee of a superannuation fund must consider insurance...
The Australian Securities and Investment Commission (ASIC) recently announced that it has sent formal letters out to the Real Estate Institute of Australia (REIA) to ensure all real estate agents are strictly complying with legal obligations when it comes to self managed super fund schemes....