financial advice process

From Financial Standard:

Australian Securities and Investments Commission (ASIC) may lighten its regulatory grip on financial planners using social media if it chooses to Financial Industry Regulatory Authority (FINRA), a like regulator in the US.

FINRA proposed compliance ammendments to allow financial planners use social media without a need to file,  "retail communications that are posted on online interactive electronic forums," said the Financial Industry Regulatory Authority (FINRA).

Learn more about self managed superannuation

 As of June 30, 2009, an in-house asset is any one of the following:

• A loan to, or an investment in, a related party of the fund, including: members, employer-sponsors or associates of members and standard employer-sponsors. Associates may include related companies, partnerships and family members, and for an SMSF, other members of the fund.

Main advantages of Self managed Super funds:

1. The fund pays 15% tax on taxable income of the fund and tax payable is reduced by imputation credits on dividends received by the fund. Capital gains tax on assets held in a self-managed superannuation fund for over twelve months and later sold is equivalent to a flat 10% (or 0% if sold at a pension phase).