Articles by Darin Tyson-Chan

Retirement

More longevity risk work needed

The SMSF sector needs to address the issue of longevity risk in a more meaningful manner as the projected age of Australians continues to increase, a senior executive with an industry body has said.

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Business News

SMSF property spruiker banned

A promoter of property purchasing strategies through an SMSF has been permanently banned from providing financial services and engaging in credit activity by the corporate regulator.

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ATO

Around $18 billion of super in limbo

The latest ATO figures have revealed the value of retirement savings considered lost or unclaimed is now close to $18 billion across 6.3 million accounts as at 30 June 2017.

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ATO

ATO stipulates concerns over reserves

The ATO has declared it will be closely scrutinising any apparent changes in the use of reserves in response to the newly imposed transfer balance cap and total super balance.

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ATO

SMSF Association supports TBAR option 2

The SMSF Association has called on the ATO to adopt a practical approach regarding the introduction of the transfer balance account report (TBAR) and in doing so has thrown its support behind the proposed ‘option 2’ method of reporting.

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Business News

SMSFs show gender and group bias

The latest industry research performed by the University of Adelaide’s International Centre for Financial Services and SMSF administrator SuperConcepts has revealed group and gender are significant factors in determining the investment philosophy of an SMSF.

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Strategy

TBC may lift partial pension commutation use

Partial pension commutations have the potential to become more common as part of a strategy to comply with the transfer balance cap (TBC), the director of an advisory firm has said.

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Business News

Critical court date set for DomaCom

The date for a Federal Court hearing to determine if the DomaCom fractional property offering represents one trust only has been set, with the matter to be decided on in late November.

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Estate Planning

TRIS complicated by death

A transition-to-retirement income stream (TRIS) is treated in a different manner to an account-based pension upon the death of an SMSF member if it is auto-reversionary and incorporates far greater complexity, a superannuation lawyer has warned.

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Compliance

Events-based reporting urgency needed

Runners in motion.

Advisers need to make sure their clients are currently preparing for the new transfer balance account reporting (TBAR) regime even though its inception will not be until 1 July 2018, an advisory firm director has recommended.

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