ASIC

Strongly divided views about the wisdom of using the early release from superannuation have prompted large numbers of fund members to seek the advice of financial planners. Losing insurance cover, reducing retirement benefits and crystallising losses are the main issues commentators have highlighted. According to AMP’s technical adviser support team, early release of super was…

The Australian Taxation Office has deferred lodgement of self-managed super fund annual returns. The ATO says returns due on 15 May and 5 June are now due on 30 June. The tax office says there is no need for a trustee of their tax agent to request a deferral. The new date applies to all…

Superannuation funds have held up well despite ongoing market volatility. Members are encouraged to hold on to their current option and avoid making “knee-jerk” reactions. Members have reaped the benefits of diversification with different portfolio options performing in line with their allocation. Research house SuperRatings estimates that the median balanced option fell 8.9 per cent…