Articles by Darin Tyson-Chan

ATO, Compliance

NALI personal capacity directive to come

NALI personal capacity

The treatment of services provided in a personal capacity to an SMSF in relation to the NALI rules require more clarity, according to a senior technical services executive.

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Retirement

Actuaries want broader retirement system perspective

Actuaries Institute retirement system

Calls have been made by the Actuaries Institute for the retirement system to incorporate a broader approach to consider the age pension, superannuation and aged care together.

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Education, FASEA

FASEA list of approved degrees not absolute

FASEA approved degrees

A relevant degree can earn practitioners education credits under the new FASEA regime, even if it is not on the official list of approved degrees to date, according to a technical expert.

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ATO

ATO addresses excess NCC determination issue

excess non-concessional contributions determinations

Excess non-concessional contributions determinations issued in error are currently being addressed by the ATO.

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FASEA

Industry bodies make code monitoring solution submission

FASEA code monitoring

The six associations making up Code Monitoring Australia have made a submission to the Australian Securities and Investments Commission to establish a service to monitor and enforce the Financial Adviser Standards and Ethics Authority code of ethics program.

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Pensions

Pension reversion event reporting causing trustee issues

Pension reversion event reporting

Confusion exists among SMSF trustees as to when a reversionary pension event needs to be reported, according to a technical services team.

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From the Editor

Hitting the reset button

SMSF election Jane Hume

The SMSF sector dodged a bullet at this year’s Federal Election but is it good news that everything the Government planned for SMSFs prior to the election will be back on the table again?

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Superannuation

Aspirational element needed in superannuation objective

aspirational element superannuation objective

The government should include an aspirational element in the objective of superannuation that raises the purpose of the retirement savings system.

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Accounting, Regulation

Industry overstating NALI impact

non-arm’s-length income statistics

The SMSF sector is placing more importance on the non-arm’s-length income rules than is warranted by ATO statistics, according to an accounting body.

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Property

TBC impacts real property holdings

transfer balance cap business property

Holding business real property inside an SMSF may not be as advantageous as it once was due to restrictions imposed by the transfer balance cap.

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