Written by Peter Burgess, Deputy CEO / Director of Policy & Education On December 8 2022 ASIC released information Sheet 274 Tips for giving self-managed superannuation fund advice (INFO 274). This information sheet is designed to help Australian financial services (AFS) licensees and their representatives comply with their obligations when providing personal advice about SMSFs. INFO…
Opinion piece written by John Maroney, CEO, SMSF Association First published in Financial Review on 1 December 2022. Licensed by Copyright Agency. The income threshold for eligibility for a Senior’s Health Card has just been significantly increased in gift to many self-funded retirees. For some self-managed super fund (SMSF) members, Christmas has come early. Seven…
It may seem a little premature to be writing about what happened this year, however let’s get in early as plenty of others will write on the subject as we cross over from 2022 to 2023. And of course, it’s always good to look back and see what was suggested for 2022 and how we…
Opinion piece written by John Maroney, CEO, SMSF Association First published in Financial Review on 4 November 2022. Licensed by Copyright Agency. An ATO ruling that excludes family members on the death or divorce of their natural parent seems arbitrary in a society where blended families are widespread. For self-managed super fund trustees, the issue…
Now I have your attention, that’s according to the Credit Suisse Research Institute’s Global Wealth Report released in September, now more than a year after the study was conducted. Another factor contributing to the growth in Australian millionaires is from stock market gains, which when added to those of property and other investments saw Australian’s’ average wealth…
Opinion piece written by John Maroney, CEO, SMSF Association First published in Financial Review on 5 October 2022. Licensed by Copyright Agency. The High Court decision in Hill v Zuda has given trustees greater certainty around binding death benefit nominations. The High Court has spoken. In its decision in Hill v Zuda Pty Ltd, it…
With many commentators, be they financial journalists, investment managers or perhaps those around the Sunday barbeque predicting the next big thing… ‘will it be lithium to create batteries for EVs, biotech or ESG investing for social good or the return of small cap companies’… it may be time to reflect on where we are in…
Opinion piece written by John Maroney, CEO, SMSF Association First published in Financial Review on 7 September 2022. Licensed by Copyright Agency. Accountants are crucial to DIY super funds yet their role has been overlooked in the Quality of Advice Review. When the Quality of Advice Review consultation paper was handed down recently, there was…
Over two days towards the end of July, I attended the SMSF Association’s Technical Summit as both a speaker and exhibitor. The event is conducted for industry professionals; advisers, specialists and those providing support, accountants and administrators to the SMSF sector. All up there were around 300 attendees, who were provided with two very full…
Opinion piece written by John Maroney, CEO, SMSF Association First published in Financial Review on 10 August 2022. Licensed by Copyright Agency. Recontribution tactics made possible by rule changes are a game changer for older Australians and their families. The 2021 federal budget introduced sweeping changes to superannuation, most of which have become law. Two…