John Kavanagh
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Check your auditor’s bona fides, regulator urges

The Australian Securities and Investments Commission has issued a reminder to trustees of self-managed super funds that they should check that their auditor is registered and whether there are any conditions on the registrations. ASIC’s advice comes in the wake…

Clearing the sophisticated investor hurdle

Q: From time to time I come across an investment opportunity that looks interesting but it is only open to sophisticated investors. How do I know if I am a sophisticated investor? A: The Corporations Law requires that people buying…

Kavanagh

The Australian Securities and Investments Commission started a heated debate last October, when it issued an SMSF fact sheet. The controversy continues. ASIC said running an SMSF was relatively expensive and time consumer, and $500,000 was an appropriate minimum balance…

Volatile reporting season ahead

A leading analyst has forecast a bumpy profit season, as companies downgrade their forecasts. Share price reactions have been sharp following ‘negative surprises’. Macquarie Securities says the industrials sector will be flat, with no overall earnings growth this financial year.…

Open Banking puts consumers in control

Consumers will have an online “consumer dashboard” to allow them to manage their data consents when the Consumer Data Right in banking kicks off in July. Details of the dashboard are included in the rules for the Consumer Data Right…

Early release of super may impact life cover

People planning to apply for early access to their superannuation to deal with severe financial hardship or serious medical problems need to consider the impact early release might have on their insurance cover. Early release may mean losing the right…

Westpac class action launched over money laundering issue

Austrac’s proceedings in the Federal Court against Westpac over alleged breahes of anti-money laundering law have not progressed since the regulator took the matter to court last November but the first shareholder class action over the issue had been filed.…

Positive outlook for infrastructure returns

Investors looking for exposure to growth assets with good defensive characteristics should consider an infrastructure fund. At least that is the view of one of Australia’s leading infrastructure fund managers. RARE Infrastructure’s Income Fund returned 23.6 per cent in 2019…

SMSF setup: corporate or individual trustees?

When people set up a self-managed superannuation fund, one of the decisions they have to make is whether to act as individual trustees or set up a company as trustee. In the past people have tended to opt for individual…

Mortgage broker best interests duty bill passed

Q: The Government has passed a law that requires mortgage brokers to act in their clients’ best interests. Don’t they already have to meet responsible lending guidelines? How will this change things? A: From July, mortgage brokers will have to…