The ASX has communicated to all market participants of an industry-wide ASX settlement failure that occurred on Friday the 20th of December. This failure has meant that CHESS was not able to complete market settlement on Friday and has deferred settlement to Monday the 23rd of December. For those clients who had sell trades settling on Friday we have ensured those sale proceeds have been made available to you for trading on Monday. Stock delivery for clients who had buy trades settling will need to wait until Monday before the shares become available to sell. We apologise for any inconvenience this ASX outage has caused.
What the ato wants you to know
The ATO recently sent letters to 18,000 SMSF trustees with potentially inadequate diversification, which sent a lot of recipients and their advisers into a spin. So what is the ATO really looking for when they regulate the SMSF sector?
In this helpful and engaging conversation, ATO Deputy Commissioner for SMSF Dana Fleming outlines the ATO’s programme of work, including:
- Their real level of concern about borrowing in Super
- What constitutes a well diversified fund - and what doesn’t
- The implications of not lodging your fund’s return on time, and
- How to get it right and stay in the ATO’s good books.
