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Showing 171 - 180 of 1382 results for "SMSFs"

More DASS complainants flock to AFCA

KARREN VERGARA  |  MONDAY, 6 FEB 2023
... before providing the advice, according to ASIC, adding that in some cases, the poor advice resulted in the clients' SMSFs being insufficiently diversified and exposed to risk of capital loss. "Advice that fails to reflect client circumstances − ...

Former planner pleads guilty to dishonest conduct

CASSANDRA BALDINI  |  FRIDAY, 27 JAN 2023
... dishonest conduct on five occasions and transferred funds between two of his clients' self-managed superannuation funds (SMSFs) to three separate companies of which he was the sole director. The companies included: Thrive Lending Pty Ltd, Trade BTC Pty ...

ASIC abandons $500k SMSF threshold

ANDREW MCKEAN  |  FRIDAY, 9 DEC 2022
... requesting that it review its guidance for AFSLs (and their representatives) who provide advice to retail clients about SMSFs. "In particular, references in ASIC INFO 206 to SMSFs with balances below $500,000 as having lower investment returns and will ...

Evidence of poor LRBA advice: Report

ANDREW MCKEAN  |  THURSDAY, 17 NOV 2022
... savings at risk. The Australian Financial Complaints Authority (AFCA) and ASIC remain concerned about inappropriate advice to SMSFs. ASIC identified concerns about SMSFs taking advice encouraging the concentration of investment in a single asset class. ...

Super fund with highest customer satisfaction named

ANDREW MCKEAN  |  THURSDAY, 10 NOV 2022
Roy Morgan's Superannuation Satisfaction report shows an overall decline in super fund satisfaction, but several funds have bucked the trend. The report said that overall, funds scored a satisfaction rating of 67.9% in September 2022, a decrease ...

SMSF growth slows, allocations shift

CHLOE WALKER  |  WEDNESDAY, 9 NOV 2022
... superannuation segment, with growth slowing significantly since the introduction of the transfer balance cap. As at March end, SMSFs held $894 billion on behalf of 1.1 million members through 605,470 funds, Rainmaker Information analysis shows. However ...

Government scraps legacy tax, super measures

JAMIE WILLIAMSON  |  WEDNESDAY, 26 OCT 2022
... regulatory framework for limited partnership collective investment vehicles; changing the annual audit requirement for certain SMSFs; the introduction of a limit of $10,000 for cash payments made to businesses for goods and services; and the introduction ...

TPB, bans dishonest tax agents

CASSANDRA BALDINI  |  TUESDAY, 18 OCT 2022
... funds had been audited, which was not the case. The tax agent was also found to have misled clients by advising them their SMSFs had been audited, and charging them for the audit, even though an audit had not been completed. The pair have been banned ...

BGL automates crypto trading

CASSANDRA BALDINI  |  TUESDAY, 4 OCT 2022
... the SMSF industry seeing a 90% increase in crypto trading activity during 2021, building out compliance and reporting for SMSFs has been a key focus for the company," he explained. "The integration between our platform and BGL allows us to streamline ...

Dixon Advisory pays $7m for poor advice

JAMIE WILLIAMSON  |  TUESDAY, 20 SEP 2022
... investigation of the clients' circumstances before providing the advice. In some cases, the poor advice resulted in the clients' SMSFs being insufficiently diversified and exposed to risk of capital loss, ASIC said. Justice McEvoy said there is no evidence ...