Articles by Darin Tyson-Chan

Superannuation

Early super eligibility may still be questioned

early release super eligibility

A major accounting body has warned penalties could be issued to individuals who have already accessed their super early under the COVID-19 relief measure, but are ruled ineligible to have done so.

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Documentation

New ID requirement for corporate trustees

identification SMSF corporate trustee

Directors of an SMSF corporate trustee will be required to comply with a new identification process introduced through legislation passed earlier this month.

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Financial Planning, Tax

TPB, FPA forge inaugural partnership

TPB FPA MOU

A memorandum of understanding has been signed between the Tax Practitioners Board and the Financial Planning Association facilitating an official information exchange.

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Financial Planning

COVID advice relief impractical

covid financial advice

Feedback from the financial advisory sector has revealed practitioners consider the compliance relief implemented for some COVID-19 advice lacked practicality.

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ATO, Tax

Loan deferrals need safe harbour clarity

loans deferrals safe harbour

Further guidance from the ATO is required to indicate how the related-party loan safe harbour rules can potentially be amended for COVID-19 loan deferrals, a technical expert has suggested.

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ATO, Superannuation

Clearer cost data welcomed

SMSF expense data

The latest ATO SMSF statistical overview for the 2018 financial year has been commended by a peak industry body for providing more accurate expense data about the sector.

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Commercial Property

Rent waiver implications important

rent waiver SMSF landlords

A technical expert has cautioned SMSF landlords to be aware of the implications stemming from a commercial property rent waiver before granting one.

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Accounting, Practice Management

COVID-19 highlights vital offshoring framework

accounting offshoring

COVID-19 business restrictions for accounting firms have highlighted the need for detailed risk management plan when looking at offshoring arrangements.

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Superannuation

Building super now a priority

superannuation strategies

Queries about superannuation contribution strategies dominated calls to AMP advisers in May overtaking calls about COVID-19 financial relief.

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Investments

Gold investing avenue open to SMSFs

SMSFs gold

Due to high levels of interest, SMSFs have now been provided with the ability to trade gold, stored on their behalf in Australia, via a new mobile app.

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