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1 month ago | 
smsfadviser.com | Keeli Cambourne
Taxing unrealised gains will change the way Australians invest, an industry executive has warned, as it would reduce the incentive to hold illiquid or high-risk assets.
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1 month ago | 
ifa.com.au | Maja Garaca Djurdjevic |Keeli Cambourne
DOD Bookkeeping Pty Ltd (in liquidation), previously Equiti Financial Services Pty Ltd (Equiti FS), has been penalised $11,030,000 after the Federal Court found it breached conflicted remuneration rules and its advisers provided inappropriate “cookie cutter” advice.
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1 month ago | 
ifa.com.au | Keeli Cambourne |Shy-ann Arkinstall
In a joint statement, the SMSFA, Council of Small Business Organisations Australia, National Farmers’ Federation and the Family Business Association said plans to tax paper gains is tantamount to “confiscation” and “punishes aspiration, destroys liquidity, and turns volatile market movements into tax bills”.
“The absurdity of taxing paper gains is laid bare with the recent turmoil in investment markets.
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1 month ago | 
smsfadviser.com | Keith Ford |Keeli Cambourne
The Coalition has not softened its stance on the division 296 tax on assets above $3 million within super, with Taylor confirming he is “100 per cent dead against it”.
Speaking at Momentum Media’s Election 2025 event on Thursday morning, the shadow treasurer noted that the “good news” is that the bill never managed to get through Parliament, so a potential Coalition government would not need to repeal it.
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1 month ago | 
smsfadviser.com | Maja Garaca Djurdjevic |Keeli Cambourne
The financial services sector will be integral to Australia’s economic resilience and future prosperity, according to shadow treasurer Angus Taylor, who has pledged a sweeping restoration of the financial advice profession under a Coalition government.
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2 months ago | 
smsfadviser.com | Keith Ford |Keeli Cambourne
Treasurer Jim Chalmers has handed down the federal budget, with the SMSF sector keeping a close eye on the government’s Div 296 position.
The government has remained staunchly committed to the division 296 $3 million super tax in recent months despite wide-ranging pushback on the controversial measure.
Tuesday night’s budget confirmed that the government has no plans of backing down on the tax and will take what the SMSF Association called an “ill-conceived initiative” to the election.
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2 months ago | 
smsfadviser.com | Keith Ford |Keeli Cambourne
On Friday afternoon, outgoing Financial Services minister, Stephen Jones, delivered one of his final acts for the financial advice sector before he exits politics at the election, detailing the next stage of the long-awaited Delivering Better Financial Outcomes (DBFO) reforms.
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2 months ago | 
smsfadviser.com | Keith Ford |Keeli Cambourne
The complaints authority has highlighted the intersection of conflicted advice models and SMSFs as being a significant contributor to complaints that end up at the CSLR.
SMSFs and conflicted advice are the “main drivers of our complaint volume”, the Australian Financial Complaints Authority (AFCA) has said.
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2 months ago | 
investordaily.com.au | Keeli Cambourne |Jessica Penny
17 March 2025 06:06 PM By Keeli Cambourne and Jessica Penny 6 minute read Facebook X LinkedIn Copy link The government must prioritise tightening superannuation tax breaks and lowering the Division 296 tax threshold to $2 million, the Grattan Institute has urged, warning that current settings are unsustainable.
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Mar 4, 2025 | 
smsfadviser.com | Maja Garaca Djurdjevic |Keeli Cambourne
A top Treasury official has shed light on the confidential document circulated among funds this month, telling Senate estimates that Treasury is “testing a hypothesis”.
A confidential document outlining voluntary best practice principles to help super funds manage rising withdrawals is being consulted on with funds and industry groups.
