Regulatory & technical update

A potentially overlooked change applied from 1 July 2021 allowing clients to re-contribute their Covid-19 superannuation early release amounts. This podcast looks at the eligibility criteria and the scenarios in which the strategy may be beneficial.

Lockdowns, lock-ups, locked out. Ethics isn’t necessarily a difficult concept, but it is the fact that your decisions get judged by others, who may have a different view, that makes it difficult to measure when a decision is right or not. With the recent results from the Roy Morgan survey on the image of professions, this week’s podcasts looks at how financial advisers fair.

With the resumption of Parliament, the “Better Advice” Bill has continued its progression through Parliament to give effect to the wind up of FASEA at the end of 2021. In this week, we look at the outcome from a Senate Committee review of the Bill, as well as the commencement of a consultation on supporting regulations.

With the resumption of Parliament, the “Better Advice” Bill has continued its progression through Parliament to give effect to the wind up of FASEA at the end of 2021. In this week, we look at the outcome from a Senate Committee review of the Bill, as well as the commencement of a consultation on supporting regulations.

Today’s podcast focuses on the ATO Law Companion Ruling on the Non-arm’s length income – expenditure incurred under a non-arm’s length arrangement and the ATO draft consolidation outlining proposed changes to Tax Ruling 2010/1 that explain the interactions between non-arm’s length income provisions and the rule around superannuation contributions.

Today’s podcast focus on three announcements made in the last seven days, from information sharing protocols that will apply when hiring a new adviser, through to a proposed compensation scheme of last resort where valid claims for poor advice remain unpaid, and finally a consultation process on the long discussed retirement income covenant for all superannuation funds.

Legislation was enacted just before the end of the financial year that means from 1 July 2021, it is now possible to have up to 6 members in a SMSF. In this podcast, we look to the benefits and risks of raising fund membership. We also explore changes made to the capital gains tax treatment of granny flat arrangements that also took effect from that date.

There have been several changes to contribution caps for the 2021/22 financial year. Contribution caps and total super balance thresholds have been indexed and there have also been some changes to the bring-forward rule. In this podcast we look at these changes and their implications.

With a large focus on dealing to year end issues, it could have been easy to miss the release of the 2021 Intergenerational Report and a joint communication from ASIC and APRA to super trustees on monitoring advice fees being charged to members’ super accounts. In this podcast we look at these announcements and some of their implications.

The Retirement Income Review’s aim is to improve understanding of the retirement income system’s operations and the outcomes it is delivering for Australians.

30 June is important, not only for individuals, but also for those running a SMSF. In this podcast, we look at a number of issues relevant for SMSFs that trustees (and their advisers) should be thinking about at this time of year.

Dealing to the new annual consent requirements for clients in ongoing fee arrangements continues to create some elements of uncertainty across the financial advice industry. In the past few weeks however there have been a number of announcements that clarify some of the uncertainty. In this week’s podcast we delve into these issues further.

On 29 May 2021, the Federal Government announced an extension to the temporary reduction of the superannuation pension minimum draw down requirements for the 2021/22 financial year.

With the FASEA appearance at the Senate Estimate Committee this week, this week's podcast looks at the potential for amendments to Standard 3 of the FASEA Code of Ethics

The news this week has all been about super. With the latest super statistics released from APRA and the ATO, the future of super looks great. But there is still much to be addressed.

The announced changes to super from the 2021/2022 Federal Budget are over 12 months away from taking effect. But what opportunities could they present to clients if enacted? In this week’s podcast we look at this in more detail, with a focus on the increased ability to contribute to super for longer.

This session we will discuss what are the important changes that we should plan for over the balance of the financial year, and what action should to be taken before 1 July, and what can (or should) wait until post 30 June.

With the 2021/22 Federal Budget delivered earlier this week, in today’s BT TechKnow podcast we revisit some of the key themes around aged care, superannuation and measures targeted for women.

Whilst it may be a return to the normal time slot for the Federal Budget in 2021, it may not be a normal Budget.

With the 2021 Federal Budget just around the corner, we sat down with Peter Burgess, Deputy CEO and Director of Policy and Education from the SMSF Association to discuss a number of proposals put forward to Government in the SMSF Association’s pre-budget submission. With a number of proposals equally relevant for the broader super environment, this should be compulsory listening for financial advisers ahead of any announcements next week.

Several temporary Covid-19 social security measures were amended at the end of March. Many have ended, some were adjusted, and we will look at these changes in detail.

This week the Financial Services Counsel released its Financial Advice Green Paper, which has proposed a number of possible reforms to the way advice is delivered to clients, including changes to the best interests duty and documentation requirements. In this week’s podcast, we sit down with Blake Briggs, Deputy CEO of the Financial Services Council to discuss the green paper and these important issues.