Articles by Darin Tyson-Chan

Contributions, Tax

Timing key to CGT contributions

Small business CGT concessions

Timing constraints are an important factor to consider when SMSF members are looking to make contributions under the small business CGT concessions.

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financial advice, Regulation

Rule of thumb can clarify QAR framework

advice rule of thumb

Under the framework recommended by the Quality of Advice Review there is a rule of thumb practitioners can use to ensure they adhere to the law.

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Administration, Financial Planning, SMSF

Incapacity measure misunderstood

SMSF and incapacity

An ordinary power of attorney will not provide a proper solution for an SMSF when a member suffers from mental incapacity.

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Regulation, Retirement, Superannuation

Retirement definition set to shift

Retirement definition

The definition of retirement allowing people to access their superannuation benefits legally is set to significantly change in the coming income year.

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Administration, ATO, Contributions, SMSF

Rounding a contribution trap

contributions rounding

The application of rounding when reporting contributions can inadvertently lead to very tough compliance penalties for SMSF trustees.

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Business News, financial advice, Investments

AMP restructures its wealth arm

AMP wealth management

The role of AMP Australian wealth management chief executive has been made redundant as part of an organisational restructure.

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Compliance

Asset compliance needs recognition

SMSF compliance asset

Ongoing SMSF compliance responsibilities must to be understood by trustees before any type of asset is purchased for a fund.

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Administration, SMSF, Technology

Members to drive real-time data shift

Real time SMSF information

Member demand will be the most significant factor in speeding up the provision of real-time member information in the SMSF sector.

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Administration, Auditing, NALI/NALE, SMSF

NALE rules an extra audit burden

NALE auditors

The proposed NALE rules for general expenses to be implemented from 1 July 2023 onwards will broaden the scope of the SMSF audit.

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Administration, SMSF

ATO extends wind-up timeframe

SMSF wind-up timeframe

The timeframe open for trustees to finalise the closing of an SMSF after the lodging of the final annual return has been extended.

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