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Showing 21 - 30 of 1280 results for "SMSFs"

Super tax is a 'wealth tax': Taylor

KARREN VERGARA  |  THURSDAY, 22 FEB 2024
... own retirement," he said. Research commissioned by the SMSF Association found the new tax could impact as many as 50,000 SMSFs. It estimated that 13.5% of 722,000 SMSF members would experience liquidity stress in meeting the new tax obligations. While ...

Younger Aussies embracing SMSFs, guidance needed

CHLOE WALKER  |  WEDNESDAY, 21 FEB 2024
According to Class general manager, growth Jo Hurley, younger generations want more control over their retirement savings than ever before, and financial advisers need to cater to this demand. Addressing the crowd at the SMSF Association Conference ...

ASIC vigilant on bad SMSF advice

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
... remain vigilant against the illegal early access of superannuation that is especially rampant within the SMSF sector. Most SMSFs do the right thing, often with the assistance of professionals, she said, but some individuals might be persuaded to consider ...

ATO cracks down on illegal early SMSF access

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
... self-managed super fund. Between 2019 and 2020, some $381 million of super was illegally accessed. For the 2020-21 period, SMSFs lost about $255 million from illegal withdrawals while $170 million was protected at registration. ATO deputy commissioner ...

Superannuation fund returns underperformed SMSFs: Research

ANDREW MCKEAN  |  WEDNESDAY, 14 FEB 2024
Investment returns for APRA-regulated superannuation funds lagged self-managed super funds (SMSFs) by 4.1% in the 2021-22 financial year, according to the University of Adelaide. During this period, while the S&P/ASX 200 index declined by more than ...

Conference to address major SMSF issues

KARREN VERGARA  |  TUESDAY, 13 FEB 2024
... said. One example is the federal government floating the possibility of making the Retirement Income Covenant applicable to SMSFs. "I don't know that it should but, clearly, it's going to be [mandatory] for APRA-regulated funds, so it's always ...

SMSF scammers charged with criminal offences

KARREN VERGARA  |  WEDNESDAY, 7 FEB 2024
... Dissidomino and Vincent Crowe. ASIC deputy chair Sarah Court said that SMSF auditors are responsible for auditing over 611,000 SMSFs with total estimated assets of almost $900 billion. "In this privileged position, they play a key role in upholding the ...

Super fund satisfaction improves: Roy Morgan

CHLOE WALKER  |  WEDNESDAY, 24 JAN 2024
... recent months has been driven by impressive increases for industry funds, up 1.4% to 68.2%, and self-managed super funds (SMSFs), up 1.4% to 75.8%. In recent months, various industry funds have performed exceptionally well, Roy Morgan noted. HESTA has ...

Former director sentenced to over four years imprisonment

ANDREW MCKEAN  |  THURSDAY, 21 DEC 2023
... Naseeruddin goaded investors to rollover their superannuation monies into newly created self-managed superannuation funds (SMSFs) and to lend those funds to his two companies, Secure Investments and Aquila Group. Between 13 May 2015 and 6 January 2020 ...

Caddick SMSF clients should recoup all funds: Lawyer

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... they had not failed in those duties, his clients would not have suffered any loss. "Our role - acting only on behalf of the SMSFs, not the individual victims - is to attempt to recover the rest," he said. "Indications from the receivers are that victims ...