Articles by Darin Tyson-Chan

Compliance

NCC cap triggers common error

NCC cap triggers common error

An SMSF expert has identified a common misconception regarding the non-concessional contributions cap and its effect on the treatment of limit breaches.

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Compliance, Financial Planning

TBC creates puzzling advice issues

Transfer balance cap death benefits

A chartered accounting firm partner has identified advice compliance complexity resulting from the transfer balance cap’s effect on the treatment of SMSF death benefits.

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ETFs, Investments

Diversification an SMSF priority

Diversification an SMSF priority

SMSF investors are showing some urgency in relation to diversification in their portfolio allocations, a report has shown.

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Retirement

New pre-retirement research on the way

pre-retirement research

New insights into how pre-retirement advice can play a more effective role in providing a better life in retirement are expected to be drawn from a research project to be undertaken by Allianz Retire Plus and Macquarie University.

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Accounting, Financial Planning

Support exists for accountants’ exemption rebirth

Accountants could play a role in satisfying the current unmet financial advice needs of Australians if an “extended accountants’ exemption” was introduced, according to a major accounting body.
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Accountants could play a role in satisfying the current unmet financial advice needs of Australians if an “extended accountants’ exemption” was introduced, according to a major accounting body.

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Financial Planning

Unused concessional cap a reserve elimination tool

Unused concessional cap a reserve elimination tool

A technical expert has advised rules that allow individuals to carry forward their unused concessional contributions cap for five years if their total super balance is below $500,000 can help to get rid of SMSF reserves.

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ATO, Investments

CAANZ makes recommendations re ATO letters

ATO SMSF investment strategies

A major accounting body has made recommendations as to how SMSF auditors, administrators and tax agents can play a role in the ATO’s scrutiny of investment strategies.

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Financial Planning

AMP planners receive legal action support

AMP planners legal action

The legal action the AMPFPA has proposed against AMP on behalf of its members has received significant support, increasing its likelihood.

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Administration, ATO

ATO to help track unused contributions

unused contributions carry forward

Administrative assistance being offered by the ATO should make monitoring the amount of a person’s unused concessional contributions cap with a view to using the carry-forward contributions provision much easier.

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Pensions

Reversionary pensions carry risks

Reversionary pensions BDBN

There are risks in establishing reversionary pensions for clients that could undermine estate planning strategies, a specialist SMSF lawyer has said.

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