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| | | ... prior to SMSF registration, supporting industry-led initiatives to uplift standards across the sector, as well as requiring SMSFs to hold uniquely identifiable bank accounts. "Waller's role will be critical as we work with industry and other stakeholders ... |
| | | | ... $160 million into MISs run by Australian Fiduciaries since February 2020, predominantly via their self-managed super funds (SMSFs). In July, ASIC cancelled the licence of Australian Fiduciaries, following its failure to pay an AFCA determination. Australian ... |
| | | | ... implement than others. "While a number of reforms reflect what is generally considered best practice, such as requiring SMSFs to hold uniquely identifiable bank accounts, experience shows there can be practical challenges in implementation," the SMSFA ... |
| | | | ... that members balances are not being eroded by unreasonable and inappropriate deductions," he said. Fairer funding for CSLR, SMSFs roped in To guarantee the sustainability of the CSLR, Mulino will limit compensation to actual investment losses rather ... |
| | | | ... said. As part of the reform package, the Australian Taxation Office (ATO) will receive a new power to prevent rollovers into SMSFs where there is a "well-founded suspicion of consumer harm." Data-sharing arrangements between ASIC and the ATO will also ... |
| | | | ... relying solely on traditional superannuation funds, increasing numbers are establishing self-managed superannuation funds (SMSFs) to gain exposure to cryptocurrency and other digital assets, an investment class that remains largely absent from APRA-regulated ... |
| | | | ... retirement who believed that their funds would be used for the purpose of investing as part of establishing or augmenting their SMSFs. For instance, one investor was falsely led to believe his transfer of more than $200,000 was to be invested in an international ... |
| | | | The Australian Taxation Office (ATO) released new guidance for SMSFs affected by the looming limited recourse borrowing arrangement (LRBA) changes for residential property, with the SMSF Association (SMSFA) saying it provides important clarity for trustees ... |
| | | | ... safeguarding confidence in a sector responsible for auditing more than $1 trillion in retirement savings across more than 672,000 SMSFs. "SMSF auditors play a fundamental role in promoting confidence and instilling trust in the entire SMSF sector," O'Rourke ... |
| | | | ... New data indicates the impact of the limited resources borrowing arrangements (LRBAs) ban for self-managed super funds (SMSFs) may have been underestimated, which will affect a market significantly larger than what officials suggested, with major implications ... |
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