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Showing 61 - 70 of 118 results for "SIS Act"

Retirement income paper open for consultation

KANIKA SOOD  |  FRIDAY, 18 MAY 2018
... advisory group to help establish the scope of a retirement covenant in the Superannuation Industry Supervision Act 1993. The SIS Act already has covenants on insurance and investment. On Budget night, Treasurer Scott Morrison flagged the upcoming release ...

SMSF trustees warned on non-compliant crypto

JAMIE WILLIAMSON  |  THURSDAY, 1 MAR 2018
... trustees of funds or multiple trustees have taken money out of the fund and put it into their exchange account, breaching the SIS Act. It's what I call driving into the pothole of the crypto road - they've done it purely because they want to get involved ...

HESTA announces life insurance facelift

DARREN SNYDER  |  MONDAY, 20 NOV 2017
... benefit; Alignment of the release of insurance benefits for terminally ill members with the 24 month requirement under the SIS Act for access to super; and An improved digital experience for members. The changes follow a detailed review of HESTA's insurance ...

Super trustees on notice over fund disclosure

DARREN SNYDER  |  WEDNESDAY, 5 JUL 2017
... "Transparency Information" requirements in relation to section 29QB of the Superannuation Industry (Supervision) Act 1993 (SIS Act). Transparency information (TI) requires super trustees to disclose fund executive remuneration, governance and other information ...

Self-auditing SMSF auditor caught in ASIC breach

JAMIE WILLIAMSON  |  THURSDAY, 27 OCT 2016
... referred to ASIC by the Australian Tax Office under section 128P of the Superannuation Industry (Supervision) Act 1993 (the SIS Act), which requires all auditors of SMSF to be registered with ASIC to ensure they all meet the base standard of competency ...

Green light for SMSF family property investment

KERRIE SYDEE  |  THURSDAY, 29 SEP 2016
... DomaCom. The ATO stated that an investment by an SMSF in by acquiring property held in a DomaCom sub-fund would not break the SIS Act, provided the SMSF and related parties did not acquire more than 50% of the units in the sub-fund created after a successful ...

SMSF trustee fined $40K for SIS breaches

KERRIE SYDEE  |  THURSDAY, 11 AUG 2016
An SMSF trustee was fined $40,000 for 30 separate breaches of the SIS Act and ordered to pay the ATO's costs of $14,000. A trustee of the Felix Super Fund, Michael Rodriguez, was handed the fine after an ATO audit found that Rodriguez was using the ...

SMSF payroll tax litigation under microscope

DARREN SNYDER  |  THURSDAY, 7 JUL 2016
... then the asset protection aspect of SMSFs will be materially reduced, Hallinan says. He says the issue of whether the SIS Act overrides the state legislation has not, as yet, been raised.

New Spring FG SMSF platform opens

MARK SMITH  |  MONDAY, 27 JUN 2016
... they need it", said Cullen. "By upgrading to our bespoke offering, trustees will also be able to hold nearly any type of SIS Act-compliant investment, providing flexibility generally not available via online platforms." Cullen said that the company expects ...

Super fund disclosure gets extension

DARREN SNYDER  |  THURSDAY, 5 MAY 2016
... deferral is to give RSE licensees enough time to transition to compliance with the full requirements of section 29QB of the SIS Act. From 1 July 2017, RSE licensees must comply in full with the s29QB requirements, including for relevant sub-plans," ASIC ...