Articles by Darin Tyson-Chan

Auditing

Auditors warned on advocacy

Auditor independence advocacy

Advocating on behalf of clients can compromise the level of independence an auditor is seen to have, a leading specialist practitioner has said.

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Pensions, Retirement

Lump sums can bypass accumulation account

Lump sums accumulation account

SMSF trustees can pay lump sums directly out of an income stream and bypass their accumulation account, a technical expert has said.

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Strategy, Superannuation

Year-end review critical in 2020

SMSF strategies

The importance of reviewing SMSF strategies in the lead-up to the close of the 2020 financial year has taken on new significance due to the COVID-19 economic impact, a mid-tier accounting firm director has said.

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LICs

LIC, LIT stamping fees banned

LIC LIT stamping fees

Listed investment companies and trusts will no longer be able to charge stamping fees from 1 July 2020.

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Appointments

Tech leader exits SuperConcepts

SuperConcepts technical manager

The technical team of administration service provider SuperConcepts has been further reduced following the departure of its SMSF technical services executive manager.

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Financial Planning

COVID-19 advice ROA has licensee obligations

Early access super advice

Specific licensee policies need to be considered before practitioners decide to use the compliance documentation relief measures regarding early access to super, an SMSF board member has said.

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Superannuation

SISFA recalibrates trustee offering

SISFA trustees membership

The Self-managed Independent Superannuation Funds Association (SISFA) has enhanced its membership offering for SMSF trustees and will add more services.

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Superannuation, Tax

Early release tax treatment unique

Early release tax

Advisers and tax agents need to consider the different tax treatment regarding early release superannuation lump sum payments under the coronavirus economic relief measures, a technical expert has said.

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Retirement

Challenger launches retirement income tool

Challenger retirement income tool

Challenger has launched a new tool to improve the knowledge of retirees and pre-retirees about their retirement income options.

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Auditing

Asset valuation issues to widen

asset valuation

Instances of SMSF auditors having to modify their independent audit reports due to an inability to obtain sufficient evidence regarding asset valuation as a result of the coronavirus economic environment are expected to rise, the ATO has said.

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