Daily Archives: November 28, 2019

ASIC bans Melbourne adviser – advising to establish an SMSF, roll out super and invest into related party property developments or developers

On Friday 22 November 2019, ASIC issued a media release saying that it had banned financial adviser Jihad Soleiman, of Wollert, Victoria from providing financial services for six years, for advice to establish SMSF’s and invest in property. See below for the Media Release. [Tax Month – November 2019]    

‘Retirement income review’ consultation paper – building on the Productivity Commission’s superannuation report & investigating the “three pillars” of the retirement income system

Treasury has released a consultation paper as part of the Government’s Retirement Income Review which is seeking to establish a fact base on the operation of the current retirement income system. The review is being conducted by an independent panel chaired by Mr Michael Callaghan. See below for a summary of the Review and extracts…

Toowong Pastures Pty Ltd as Trustee for the DB Family Trust trading as KBE Contracting Australia [Pty Ltd – sic] v CofT – Super Guarantee payable for building site worker who was held NOT to be an independent contractor

The AAT has confirmed the ATO’s decision that a person who provided services as part of an asbestos removal/building renovations business was an employee and not an independent contractor. Accordingly, the employer was liable to superannuation guarantee charges amounting to some $15,000. See below for a summary of the case. [Tax Month – November 2019]