Articles by Darin Tyson-Chan

Whole of wealth picture beyond auditors’ scope

September 30, 2019

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

September 26, 2019

Darin Tyson-Chan

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

September 25, 2019

Darin Tyson-Chan

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

September 24, 2019

Darin Tyson-Chan

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

September 23, 2019

Darin Tyson-Chan

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

September 23, 2019

Darin Tyson-Chan

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

September 19, 2019

Darin Tyson-Chan

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

September 19, 2019

Darin Tyson-Chan

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

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Compliance

NCC cap triggers common error

September 18, 2019

Darin Tyson-Chan

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

September 17, 2019

Darin Tyson-Chan

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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