Articles by Darin Tyson-Chan

Strategy, Superannuation

SMSFs including family members has pitfalls

SMSFs adult family members

The director of a mid-tier accounting firm has recommended serious assessment be performed before including adult family members in an SMSF due to the additional elements of risk associated with this strategy.

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Regulation, Retirement

Retirement alliance endorses govt review

retirement savings system review

The Alliance for a Fairer Retirement System (the Alliance) has welcomed the federal government’s Review into the Retirement Savings System and has put forward five questions the process should answer.

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Auditing, Investments

Whole of wealth picture beyond auditors’ scope

auditors investment strategy SMSF

A technical manager has claimed that SMSF auditors cannot assess the adequacy of a fund’s investment strategy in the context of a trustee’s assets held both inside and outside of super.

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Auditing, Investments

Investment strategy percentages not needed

SMSF investment strategies portfolio

Fund investment strategies do not need to specify the percentage of an SMSF portfolio that will be allocated to a certain asset class, a specialist auditor has said.

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Compliance

Trustee confusion over downsizer age

Trustee confusion over downsizer age

An industry administrator and educator has revealed many SMSF trustees remain unclear about the age constraints contained in the superannuation downsizer contribution rules.

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LRBA

LRBA treatment dependent on member’s circumstance

LRBA total super balance

The extent to which the outstanding balance of a limited recourse borrowing arrangement will affect a member’s total super balance is determined by the individual member’s circumstances, according to an SMSF service provider.

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ATO, Investments

ATO letters’ impact already evident

ATO letters’ impact already evident

A specialist document provider has revealed many trustees have already been reassessing their investment strategies as a result of the ATO’s letter querying the investment strategy of 17,700 SMSFs invested in a single asset or asset class.

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ATO, Pensions

ECPI discretion success has several elements

ECPI discretion success has several elements

A successful application for ATO discretion to claim exempt current pension income usually involves some common elements, a technical manager has said.

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Compliance

Market value substitution rules not a NALI pardon

A technical expert has warned the amendments to the non-arm’s-length income rules will still apply to an SMSF that has implemented the market value substitution measures as defined in the Income Tax Assessment Act 1997.

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Business News

DomaCom capital raising to generate $6m

The most recent share placement activity undertaken by fractional property investment manager DomaCom is anticipated to raise $6 million.

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