Articles by Darin Tyson-Chan

Investments, Regulation, Retirement

Labor policy to hit women, economy, govt revenue

Wilson Asset Management chief investment officer Geoff Wilson has used his statement to a House of Representatives Standing Committee on Economics hearing as part of its inquiry into the implications of removing refundable franking credits to highlight the negative impact the proposed policy will have on women, the greater economy and forecast government revenue.

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Education, Regulation

SMSFA pushes for more FASEA RPL inclusions

The SMSF Association is lobbying the Financial Adviser Standards and Ethics Authority (FASEA) for its professional designations and specialisation courses to be included as recognised prior learning (RPL) elements in its educational requirements for existing financial advisers.

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Investments, Regulation

Bennelong positioning itself for market shift

Bennelong Funds Management is in the process of adding a range of boutique investment house offerings to its stable in anticipation of providing individuals with viable alternatives should there be a significant market shift resulting from the Labor Party proposal to ban imputation credit refunds in certain circumstances.

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From the Editor

The talk of the town

If you have been following the news concerning the SMSF sector recently, you’ll be aware the case of Aussiegolfa Pty Ltd v Commissioner of Taxation has been dominating the headlines.

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Accounting, Education, Financial Planning

FASEA exam appropriateness questioned

Concern among accountants continues to exist over the appropriateness of the bridging exam the Financial Adviser Standards and Ethics Authority (FASEA) has imposed on existing advisers with a relevant degree currently operating under a limited Australian financial services licence.

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Financial Planning, Superannuation

Reforms highlight super suitability

The super reforms have placed an emphasis on the extent of the role superannuation should play in an individual’s wealth-building strategy, highlighting an issue that should have been addressed when the last set of significant changes to the retirement savings system were implemented, a technical expert has said.

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Documentation, Estate Planning

Control of fund key to estate plan

The person who assumes control of an SMSF upon the death of a trustee or member is the most important factor in guaranteeing the benefits of the deceased are distributed to the desired recipients, a specialist SMSF lawyer has said.

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Retirement, Superannuation

Diversity, sole purpose of super need maintaining

Certain characteristics currently embodied in the retirement savings framework, such as fund diversity and the system’s sole purpose, need to be maintained, according to a panel of senior executives.

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Auditing

Auditor duties potentially redefined

A recent case heard in the New South Wales Supreme Court has potentially redefined the role of the auditor and caused increased angst and potentially some confusion within the SMSF sector. In Ryan Wealth Holdings Pty Ltd v Baumgartner [2018] NSWSC 1502 the auditor of an SMSF was held accountable for certain failings of the […]

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ATO, Compliance

Proper procedure needed with TBAR corrections

The ATO has stipulated certain processes are absolutely necessary to correct any errors relating to transfer balance account reports (TBAR).

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