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Showing 281 - 290 of 2553 results for "SMSF"

High super balance tax needs work: Podcast

CASSANDRA BALDINI  |  THURSDAY, 11 MAY 2023
... number of people at the moment," said Hutton. "Over time it will apply to more and more people, particularly those who have an SMSF." Hutton further pointed out that it's misleading to say the tax rate will only jump from 15% to 30%. "The way it ...

Budget of missed opportunities: Industry

CASSANDRA BALDINI  |  WEDNESDAY, 10 MAY 2023
... remained firm in its plan to double the concessional tax rate from 15% to 30% for super balances above $3 million. However, the SMSF Association called for the government to reopen the consultation and said it needs more discussion. "If the government ...

NALI measure receives mixed response

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAY 2023
... rather than a tax anti-avoidance matter. CA ANZ will continue to advocate for our preferred solution," it said. Meanwhile, SMSF Association chief executive Peter Burgess said the measure is an improvement, though the use of a factor-based approach "is ...

Industry fund market share soars: KPMG

ANDREW MCKEAN  |  THURSDAY, 4 MAY 2023
... assets - as a testament to industry funds' success. As of 2022, there are seven mega-funds, which account for 58% of non-SMSF super industry assets, made up of three industry funds, one public sector funds, and three retail funds. Comparatively, in 2021 ...

Uptick in adviser numbers: Research

KARREN VERGARA  |  WEDNESDAY, 3 MAY 2023
... Wealth (279), Count Financial (271), Ord Minnett (269), Capstone Financial Planning (259), Lifespan Financial Planning (258), SMSF Advisers Network (241), Fortnum Private Wealth (213), Shaw and Partners (174), and Infocus Securities (172) make up the ...

Skynet fraudster terminated by ASIC

JAMIE WILLIAMSON  |  FRIDAY, 28 APR 2023
... advisers busted for fraud. Earlier this week, former adviser Brett Gordon was jailed for six years for executing a $650,000 SMSF fraud, while last week Gavin Fineff was sentenced to nine years behind bars for defrauding clients out of $3.36 million. ...

Former adviser jailed for six years

JAMIE WILLIAMSON  |  WEDNESDAY, 26 APR 2023
A former financial adviser was sentenced to six years behind bars for committing a $650,000 fraud, using clients' SMSF savings to pay off his personal debts. Appearing before the Maroochydore District Court, former adviser Brett Gordon faced nine counts ...

SMSFs weather market storms: Report

CHLOE WALKER  |  WEDNESDAY, 26 APR 2023
A joint research venture between the SMSF Association and the University of Adelaide's International Centre for Financial Services (ICFS) has found SMSFs outperformed the APRA-regulated fund sector during the 2020 market contraction but underperformed ...

ATO keeping tabs on SMSF early access, tax avoidance

KARREN VERGARA  |  FRIDAY, 21 APR 2023
... early access. "Unfortunately, we are seeing an increasing number of trustees taking advantage of their direct access to their SMSF bank account and they are using this money to pay for items such as business debts and personal expenses," he said. Illegal ...

Superannuation changes limit tax benefits for top earners: ASFA

ANDREW MCKEAN  |  FRIDAY, 21 APR 2023
According to an ASFA report, the government's proposed superannuation changes will improve equity by curbing tax benefits for high-income earners. The introduction of higher taxation for balances exceeding $3 million is projected to lead to a 9.5% ...