Articles by Darin Tyson-Chan

Strategy

Non-cash recontributions tricky

Non-cash recontribution

A specialist adviser has recommended advisers looking to implement a withdrawal and recontribution strategy for an SMSF be wary when the process involves assets other than cash.

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ATO, Auditing, Documentation

Accounts deadline action needed

SMSF accounts deadline

A specialist auditor has labelled the proposed new deadline for the preparation of SMSF accounts and statements as impractical and has called on practitioners to oppose the change.

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Superannuation

SMSFA optimistic about fund member bill

six member SMSFs

The SMSF Association is confident the bill increasing the maximum number of SMSF members from four to six will be passed.

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Insurance

Correct insurance transfers a must

SMSF life insurance transfer

Any transfers of risk insurance from an individual to an SMSF must be legitimate due to the severity of penalties resulting from breaches related to these transactions.

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Accounting, Tax

Accounting method not Part IVA

Accounting method Part IVA

A technical manager has allayed adviser fears over the use of tax-effect accounting in an SMSF being captured under Part IVA provisions of the Income Tax Assessment Act.

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Strategy

Don’t view indexation by itself

indexation SMSF contribution strategies

A technical manager has cautioned SMSF advisers and their clients not to consider indexation exclusively when formulating contribution strategies.

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ATO, Superannuation

SG amnesty impact can be eased

SG amnesty

Super guarantee amnesty payments do not necessarily have to be recognised in the financial year in which they are received, a technical manager has said.

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LRBA, Property

LRBAs really only for property

LRBAs property

A panel of technical experts has declared limited recourse borrowing arrangements to be viable for the purchase of property only.

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Superannuation

Indexation may drop TSB limits

TSB indexation

A technical specialist has predicted indexation measures likely to be applied to the concessional contributions cap could lower the total super balance limits determining the ability for individuals to make non-concessional contributions.

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Financial Planning

Govt determined to reduce advice impediments

financial advice barrier

The reduction in red tape that is hindering the ability to deliver affordable financial advice to more Australians is a priority for the federal government.

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