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SMSFs granted annual return extension

ELIZA BAVIN  |  THURSDAY, 23 APR 2020
SMSFs have been granted an extension to the lodgement of annual returns to the ATO to June. The ATO said it made the decision in the wake of the financial effects of the COVID-19 outbreak. "The requirement for an SMSF to appoint an auditor 45 days before ...

Seek financial advice: Hume

ELIZABETH MCARTHUR  |  WEDNESDAY, 22 APR 2020
With the government now expecting close to two million Australians to apply for early access to super, assistant minister for superannuation, financial services and financial technology Jane Hume has urged those who are confused to seek financial advice. ...

Aussies flood to ERS as applications open

ELIZA BAVIN  |  MONDAY, 20 APR 2020
... under the government's crackdown on "zombie accounts" then the member will have to transfer their account to a fund and then apply for early release. "An individual cannot apply for a determination to release super under the coronavirus early access ...

QSuper board takes AFCA decision to court

KANIKA SOOD  |  THURSDAY, 16 APR 2020
... on 1 July 2016. QSuper refused to refund Lam, saying on 27 May 2016, it sent Lam sufficient information to allow him to apply for changes to his insurance cover and qualify for a reduced premium. On 1 August 2019, AFCA decided the complaint in favour ...

AFCA extends complaints response time

ALLY SELBY  |  THURSDAY, 16 APR 2020
... financial services firms to respond to complaints amid the COVID-19 crisis. The change comes into effect immediately and will apply to all complaints, AFCA said, including those relating to financial difficulty. Prior to the changes, financial services ...

ERS can be drawn from multiple funds: ATO

ELIZA BAVIN  |  THURSDAY, 16 APR 2020
... Early Release Super scheme, allowing members to withdraw super from multiple funds. The ATO said while a member can only apply for one determination per financial year, they are able to request withdrawals from multiple funds so long as it is in the ...

Boutique buys out Bennelong

ELIZA BAVIN  |  THURSDAY, 16 APR 2020
... which will be announced later this month. The team also plans to launch an Australian equities focused fund, which will apply the same rules-based and disciplined derivatives strategy used for the global fund. The buyout and transition arrangements will ...

Asset values could drop to 2017 levels: MSCI

HARRISON WORLEY  |  THURSDAY, 9 APR 2020
MSCI believes the unlisted real estate assets of Australia's superannuation funds could drop to levels last seen in late 2017 as a result of recent out-of-cycle write downs on unlisted assets. New analysis by MSCI Research executive director Bryan Reid ...

Hostplus responds to PDS controversy

ELIZABETH MCARTHUR  |  THURSDAY, 9 APR 2020
... already applied for early access to their super. Hostplus did not provide an estimate of how many of its members are likely to apply when asked by Financial Standard.

1.5 metres to trigger real estate downfall

ALLY SELBY  |  WEDNESDAY, 8 APR 2020
... the remaining period of their lease. Landlords cannot terminate leases, while tenants must honour leases. The scheme will apply to any tenancies with a turnover of $50 million or less where the landlord or tenant applies for the government's JobKeeper ...