Articles by Darin Tyson-Chan

Retirement

Measures for retirement goals a strategy key

retirement strategy

Knowing what a successful retirement looks like to a client and having measures to determine whether these objectives have been achieved are critical to formulating a prudent strategy for this stage of life, a technical specialist has said.

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Superannuation

COVID relief blurs contributions

COVID super contributions

Legitimate contributions to super funds from individuals who have accessed their retirement savings early to alleviate COVID-19 financial hardship will face greater ATO scrutiny, a technical expert has said.

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Property, Regulation

DomaCom gets downsizer approval

DomaCom downsizer

An ATO Administrative Binding Advice ruling obtained by DomaCom means individuals will be able to make downsizer contributions from the partial sale of a residence.

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Financial Planning

Planner cooperative mooted

financial planning cooperative

The possibility of establishing a financial planning cooperative to help smaller firms with their running costs is being proposed by a Queensland-based practice.

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Documentation

Copies may not form deed record

SMSF trust deed

Having original documents may be the only acceptable way of proving SMSF trust deed variations have been properly executed, a specialist lawyer has said.

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Investments

Infrastructure not SMSF panacea

Infrastructure assets

Making infrastructure assets more available to SMSFs may not provide the post-COVID-19 investment solution for the sector as first thought, a panel of industry thought leaders has said.

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Financial Planning

FOFA-based class action afoot

FOFA class action

A class action has been brought against the financial planning arms of AMP, CBA and Westpac for Future of Financial Advice reform contraventions.

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Documentation

Trust deed history required

Trust deed history

A fully documented history of an SMSF’s trust deeds is required to establish the validity of any variations made to this element of the fund’s paperwork, a law partner has said.

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ATO, Documentation

No part for ATO in deed changes

ATO SMSF trust deeds

An SMSF trust deed stipulating any change to it requires ATO approval cannot satisfy this condition, the partner of a legal firm has said.

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Documentation, Estate Planning

BDBN can mimic death pension

BDBN reversionary pension

A binding death benefit nomination can achieve the same outcome as a reversionary pension, the partner of a law firm has said.

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