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Superannuation
| All Publications | by Author |
July
2010
"Will
the changes to borrowing arrangements by superannuation funds affect you
or your clients" by Fiona Sonntag
The
Federal Government has made a number of changes to superannuation law
for the purpose of reducing the risks for superannuation funds investing
in limited recourse borrowing arrangements. The legislation provides further
guidance to trustees of superannuation funds but will also prohibit or
have the effect of limiting arrangements which were previously allowable.
"No
time like the present" by Peter Bobbin
Many fires will be busy
helping clients reset theri financial futures, but before they begin they'll
need to reorganise their own business to maximise gains when better times
arrive Peter Bobbin writes. Originally published in Asset
Magazine February 2008.
"Culture
of complaints" by Peter Bobbin
Clear
communication with clients is more important than ever in the market,
as even grieves can offer an opportunity to build better relationships,
Peter Bobbin writes. Originally published in Asset
Magazine December 2008.
"Enough
complaints to share" by Peter Bobbin
As
the credit crunch continues to bite, grievances against advisers will
probably increase as clients review their strategies and returns, but
where does the buck stop? Originally published in Asset
Magazine November 2008.
"A
lapse in trusteeship" by Peter Bobbin
The
concept of a dependant is anachronistic. I should be able to apply my
super as I wish. Professional super fund administrators are growing lazy,
leaving deceased members' dependants confused or, worse yet, forced to
bear the consequences of their failures, Peter Bobbin writes. Originally
published in Asset
Magazine October 2008.
"Beware
the trusty short cut" by Peter Bobbin
The
most common failing in the use a trust begins with the advisers who recommend
them. Judging by the mood of the times, a professional trustee and a settlement
fee substantially greater than $10 will be needed to earn the respect
of the courts, writes Peter Bobbin. Originally
published in Asset
Magazine September 2008.
"Fees
make a meal of your client's interests" by Peter Bobbin
"Right
Topic Wrong Focus" by Peter Bobbin
The
consultation paper on superannuation shows that the government needs to
focus on the value of advice and on encouraging households to boost retirement
savings, Pter Bobbin writes. Originally published in Asset
Magazine August 2008.
"Super's
final frontier" by Peter Bobbin
Australian super-tax
laws that treat a company as a spouse no longer seeem so bizzare. Advisers
are coming to grips with the government's Better Super system, Peter Bobbin
writes, but unfortunately many of its absurdities and complexities are
still in place. Originally published in Asset
Magazine July 2008.
"Extreme
super makeover" by Peter Bobbin
The complex,
outdated rules covering self-manged superannuation funds are crying out
for reform and a single authority should be given the role of DIY fund
regulater, Peter Bobbin writes. Asset
Magazine June 2008.
"Super's
final frontier" by Peter Bobbin
Australian super-tax
laws that treat a company as a spouse no longer seeem so bizzare. Advisers
are coming to grips with the government's Better Super system, Peter Bobbin
writes, but unfortunately many of its absurdities and complexities are
still in place. Originally published in Asset
Magazine April 2008.
"Gear
up for a lawsuit" by Peter Bobbin
It's a great time to
be in the super financial services profession, despite the fearful chatter.
More exceptions allowing super funds to borrow money for investments are
a big opportunity for the members. Don't let them give someone a new change
to sue you, Peter Bobbin writes. Originally published in Asset
Magazine March 2008.
"Simple
truth Saves" by Peter Bobbin
Advisers need to take care when communicating with clients - simply put
dumb it down. No more fancy words, slock marketing jargon or convuluted
nomenclature; be bluntly honest with clients in termins that even your
teenager would understand, Peter Bobbin writes. Originally published in
Asset
Magazine February 2008.
"Excited
about Superannuation Borrowing?" by Peter Bobbin
In this paper Peter Bobbin raises a sample of the issues that appear central
and relevant to any considered analysis to section 67(4A) of the Superannuation
Industry (Supervision) Act . Also attached is details of The Argyle Superannuation
Acquisition Instalment Trust is a financial structure developed by Argyle
to facilitate a superannuation fund borrowing, in accordance with the
rules that allow this, to acquire an interest in any assets that a superannuation
fund may properly invest in.
"Investment
Management Manna from Government Super Heaven" by Peter Bobbin
The planning opportunities are almost limitless, many self managed superannuation
fund trustees that were once frustrated from achieving their investment
ideals through a lack of funds, can now borrow to make that real estate
purchase or enhance their share portfolio. Also attached is details of
The Argyle Superannuation Acquisition Instalment Trust is a financial
structure developed by Argyle to facilitate a superannuation fund borrowing,
in accordance with the rules that allow this, to acquire an interest in
any assets that a superannuation fund may properly invest in.
"Fatal
Attraction" by Peter Bobbin
The distribution of death benefits through inheritance is the laragest
source of grievance before the Superannuation Complaints Tribunal and
such angst is on the rise Peter Bobbin writes. Originally published in
Asset
Magazine December 2007
"Super
strategy needs super caution" by Mary Ferizis
It is well known that self-managed superannuation funds (SMSFs)
draw scrutiny from the Tax Office. But if you are adviser - and almost
all financial advisers are now working in the SMSF market - ASIC is concerned
with how you help client SMSF trustees document their investment strategy.
Mary Ferizis explains ASIC’s compliance obligations in this article,
which originally appeared in IFA
magazine’s
special SMSF Supplement, 27 August - 2 September 2007.
"Keep
it simple" by Peter Bobbin
The changes to superannuation are complex, unfair and rushed. More time
is needed for people to make decisions about their long-term commitments,
according to Peter Bobbin. The so-called "simpler super" is
not an opportunity, but a limitation that never existed before. Originally
published in Asset
Magazine,
June 2007.
"Back
to super future" by Peter Bobbin
Changes
to superannuation in the 2006 Budget will benefit men, but women won’t
be so super secure. Peter Bobbin canvasses the various stages of a typical
working life - under 35, middle age, over 50 - and makes the case that
the 2006 proposals to streamline and simplify superannuation are aimed
at male baby boomers. Originally published in Asset
magazine,
May 2006.
"
Death and super" by Peter Bobbin
Australian
superannuation law was designed only with tax purposes in mind. But simpler
super can rob families of their estate-planning goals. Aged under 25?
Ignore your own super future, and embrace the super future of everyone
else by studying four law subjects: trust law, superannuation law, tax
law and litigation. Peter Bobbin explains. Originally published in Asset
Magazine,
April 2007.
"Where
the buck stops" by Peter Bobbin
While ASIC is happy to tell us where to invest our tax refund,
there is an irony in the fact that the ATO refuses to answer questions
about our self-managed super funds. Since 1999 the ATO has had responsibility
for the prudential management and regualtion of SMSFs, and yet it refuses
to provide private and binding ruling support. Peter Bobbin explains why
there needs to be an urgent Senate inquiry. Originally published in Asset
Magazine,
October 2006.
"Dear
John ..."
by Peter Bobbin
Section
279D of the Income Tax Assessment Act 1936 operates to enable a super
fund trustee to increase the death benefit to the family, by clawing back
through the taxation system the taxes paid on the taxable contributions
the fund received over the years. Peter Bobbin explains the workings of
section 279D, including why so few funds are able to take advantage of
the section, and proposes an amendment to rectify defects in the legislation.
Originally
published in Asset
magazine, March 2006.
"Fraud,
stupidity and trust," by Peter Bobbin
Peter Bobbin
predicts that fraud will be the next major ‘growth opportunity’
in the financial services industry – followed closely by fraud investigation,
fraud litigation, and fraud induced bankruptcy of representatives and
licensees. Taking examples from the Crimes Act (NSW) and recent caselaw,
Mr Bobbin explains why a culture of ethical conduct is so important to
your organisation. Originally published in
Asset magazine , December
2005
"Please
stop super whining," by Peter Bobbin
Some advisers
are getting too excited about the possible tax avoidance issues associated
with the transition to retirement strategy (TTRS). TTRS allows people
to access their superannuation as an income stream, even when they continue
working past age 55. The client’s dominant purpose is adopting TTRS
is not to gain a tax advantage; it is to establish a series of income
streams. In this article, Peter Bobbin explains how TTRS will not usually
attract Part IVA of the Income Tax Assessment Act, and why a rush to the
ATO for its comments are not in the client’s best interest. Originally
published in Asset
magazine, November
2005.
"Marriage
break-up: avoiding a super split with your client" by Nabil Wahhab
Super splitting on marriage breakdown was thought to be easy. A simple
process of valuing the superannuation entitlement and dividing it in two.
This is the easy part. The difficult part is when clients do not receive,
or are not advised, to obtain financial and tax advise. This article,
by senior associate Nabil Wahhab, originally appeared in Money
Management’s
"Argyle Advocate" column, 3 February 2005.
"Undetected
super crime" by Peter Bobbin
Self managed superannuaton funds do not always offer better protecgtion
for members' savings - and when things go wrong help is hard to find.
This article originally appeared in the April 2004 issue of Asset
magazine.
"Love
Those Excess Benefits" by Peter Bobbin
Excess RBL has been a part of superannuation
legislation since 1994 and appears to be here to stay. Unfortunately successful
retirement planning virtually guarantees a superannuation excess RBL failure.
Financial planners may be tempted to adopt 'excess RBL management' strategies
for their high net wealth and high earning clients. In this article Peter
Bobbin explains in technical detail why most RBL tax avoidance strategies
will not work. This article was written for financial planners, having
originally appeared in the 27 March 2003 issue of Money
Management.
| All Publications | by Author |