📊 Yesterday's Key Developments
SMSF Association Rejects Superannuation Funding for CSLR
The SMSF Association's CEO, Peter Burgess, has strongly argued against using superannuation funds to cover costs for the Compensation Scheme of Last Resort (CSLR). Speaking at the SMSFA conference in Adelaide, Mr. Burgess stated that expecting the financial planning sector to bear an excessive portion of these compensation expenses is not sustainable. While supporting the concept of distributing CSLR costs more broadly across relevant industries, he insisted that superannuation should be exempt from such contributions, advocating for defined limits on the scheme's funding sources.
Source: www.smsfadviser.com
Auditors Urged to Elevate Professional Standards and Documentation
Belinda Aisbett, director of Super Sphere, highlighted at the SMSF Association National conference that professional standards are now as crucial as strict compliance for auditors. She stressed the essential nature of meticulous documentation, ensuring engagement letters are up-to-date, financial statements are properly signed, audit evidence is comprehensive, and audit files are well-organised. Aisbett warned that any work not adequately documented is effectively considered undone, emphasising the need for auditors to maintain current knowledge, rigorously follow standards, and implement robust quality management systems, including annual and independent file reviews.
Source: www.smsfadviser.com
Iconic Nimbin 'Church of Aquarius' Listed for Sale
A unique historical property in Nimbin, a well-known bohemian village in the Byron Bay hinterland, has been put on the market for $580,000. Originally constructed as a Methodist church a century ago and later a Uniting church, the building at 90 Cullen Street has undergone a significant transformation. Since 2023, it has been known as the 'Church of Aquarius', serving as a vibrant community space hosting various workshops, talks, music events, and wellness sessions. Its name pays homage to the 1973 Aquarius Festival, a seminal counterculture event. This property represents an opportunity to acquire a piece of local cultural history with ongoing community utility.
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Ballarat's 'Tiniest House' Attracts Significant Buyer Interest
A charming, compact residence in Golden Point, one of Ballarat's oldest suburbs, is drawing considerable attention from prospective buyers. Marketed as "The Tiniest House in Ballarat," this one-bedroom property is listed with a price guide between $440,000 and $470,000. Despite its modest footprint, the classic miner's cottage has been thoughtfully renovated, preserving its historical character while integrating modern conveniences like underfloor heating and a contemporary kitchen. The property's blend of heritage appeal, updated interiors, and an accessible price point is proving highly attractive to a diverse range of buyers in the regional real estate market.
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Historic Black Rock Church Conversion Generates Strong Buyer Demand
A former church, dating back to approximately 1900, located in the small town of Black Rock, is experiencing high demand from potential buyers. Priced in the early to mid-$400,000s, this stone structure at 36 Railway Terrace offers an appealing and ready-to-occupy living space for those seeking a tranquil lifestyle away from urban centres. The property's comprehensive renovation, which blends its original character with modern amenities, is a key draw. Real estate agents report immediate and significant interest, noting that the desire to own a unique converted church, particularly one that doesn't require extensive renovation work, is a powerful motivator for many buyers.
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Tasmania Introduces New Legislation Granting Tenants Pet Ownership Rights
Tasmania is set to implement new rental regulations that will empower tenants to keep pets in their leased properties, aligning the state with policies already adopted elsewhere in Australia. The Residential Tenancy Amendment (Pets) Act 2025 is scheduled to come into effect on Friday, March 20, 2026. This legislative change means renters will no longer face the dilemma of choosing between their housing and their beloved animals. Animal welfare organisations, such as RSPCA Tasmania, have welcomed the reform, emphasizing its role in reducing pet surrenders caused by housing constraints and fostering family cohesion, while also alleviating pressure on animal shelters.
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ASX Sees Modest Decline Following Record-Breaking Week, Strong Earnings Season Continues
The Australian share market experienced a slight dip, closing lower after achieving a record-breaking performance in the preceding week. Despite this minor correction, the ongoing earnings season has continued to present positive results for many of the nation's major listed companies, indicating underlying strength in corporate performance.
Source: www.businessnews.com.au
Tip Top Bakeries Invests $130 Million in New State-of-the-Art WA Production Facility
Tip Top Bakeries has significantly expanded its manufacturing capabilities in Western Australia by launching a new $130 million, technologically advanced bakery line in Canning Vale. This substantial investment aims to enhance the supply and availability of Tip Top's white sliced bread products for consumers across the state, meeting growing demand through modern production methods.
Source: www.businessnews.com.au
Perth and Adelaide Student Accommodation Markets Share Insights
A recent discussion featured insights into the student accommodation sector, drawing parallels between the markets in Perth and Adelaide. The conversation explored why these two Australian cities exhibit similar characteristics in their respective student housing landscapes, suggesting common trends or underlying factors affecting supply and demand in these educational hubs.
Source: www.businessnews.com.au
Published: Saturday 21 February 2026 | Fresh Articles: 25 | Sections: 9 | RunID: 2026-02-21T08:15:09+11:00
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