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Market News

Stay informed with reguarly updated news from Ascend Financial Solutions.
State and Federal COVID-19 support --- January 2022

State and Federal COVID-19 support --- January 2022

e following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet more COVID-19 restrictions.

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Financial burden of COVID sees rise in illegal loans to members

Financial burden of COVID sees rise in illegal loans to members

th COVID continuing to place financial stress on businesses and individuals, there has been an uptick in SMSF members illegally accessing money from their funds, an SMSF auditor warns.

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6-member SMSFs proving popular for older trustees

6-member SMSFs proving popular for older trustees

e uptake of six-member SMSFs is primarily being driven by trustees over the age of 80 who want their adult children to take over the management of the fund.

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ATO holds off on TBAR compliance

ATO holds off on TBAR compliance

The ATO will not take compliance action against funds that have not reported a TBA event after the commencement of a new pension in the interim. 

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