Articles by Darin Tyson-Chan

Call for market-linked pension fix

July 29, 2020

The SMSF Association has asked the ATO to use its discretionary powers to correct an irregularity in the transfer balance account debit calculation when market-linked pensions are commuted.

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Superannuation

COVID-19 to spur SMSF growth

July 29, 2020

Darin Tyson-Chan

The coronavirus pandemic is likely to boost the number of SMSFs as people re-examine their financial affairs in the wake of the virus crisis.

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Financial Planning

Specialist advice needed more than ever

July 29, 2020

Darin Tyson-Chan

The SMSF Association has stated there has never been a more critical time for trustees to receive specialist SMSF financial advice.

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ATO, Superannuation

Few early release recontributions

July 28, 2020

Darin Tyson-Chan

The practice of accessing superannuation early under the COVID-19 relief measure and recontributing the funds back into a super fund to gain a tax benefit has not been common so far, the ATO has said.

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Accounting, Administration

Returns still require signature

July 27, 2020

Darin Tyson-Chan

SMSF annual returns still require a signature of some sort, regardless of COVID-19 isolation practices, a technical specialist has said.

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Direct Property, Property

LRBA property count now required

July 23, 2020

Darin Tyson-Chan

SMSFs holding property under a limited recourse borrowing arrangement (LRBA) have a new reporting property count requirement on the 2020 annual return.

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Administration, Documentation

Annual return sign-off timing important

July 22, 2020

Darin Tyson-Chan

The procedural timing for the sign-off of an SMSF annual return is critical and carried out incorrectly can result in compliance issues and penalties.

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Administration, Superannuation

COVID-19 residency relief exists

July 21, 2020

Darin Tyson-Chan

COVID-19 relief exists for the rules governing the definition of an Australian super fund, eliminating the need to report a change in residential status on the 2020 SMSF annual return, a technical expert has said.

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Compliance