Articles by Darin Tyson-Chan

ATO, Pensions

ATO discretion worth pursuing

ATO discretion pension

Applications for ATO discretion should always be made where a minimum pension payment has not been met and self-rectification cannot be used.

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Business News

Tax and Super Australia undergoes rebrand

Tax Super Australia rebrand

Tax and Super Australia has rebranded and will now operate as the Institute of Financial Professionals Australia to better reflect its membership.

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Investments

OpenInvest strikes new WA partnership

OpenInvest Knight Group

OpenInvest has expanded its network through a partnership with Perth-based Knight Group, giving consumers access to six investment portfolios.

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Documentation

COVID stresses record-keeping importance

SMSF record-keeping

Accurate record-keeping is paramount when looking to avoid compliance breaches when withdrawing benefits early from an SMSF in exceptional circumstances.

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Investments

Portfolio adjustments reduced among HNWs

High net worth portfolio

High net worth investors were less inclined to make significant changes to their portfolio allocations in the year ended July 2022.

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financial advice, Investments

Return band offers opportunity

SMSF returns

Financial advisers can significantly improve the performance of SMSFs they service through the implementation of fundamental investment principles.

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Superannuation, Tax

Div 293 tax is a personal liability

Division 293 tax

If an individual chooses to have their SMSF make the payment for a Division 293 tax assessment, proper procedures must be followed to avoid penalty.

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Education

Express accreditation pathway for CFPs

CFP SMSF accreditation

Certified financial planners will have a new express specialist accreditation avenue to the SMSF sector effective January 2023.

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financial advice

Advisers reminded of registration requirement

advisers registration

Financial advisers have been reminded of the need to register with the Financial Services and Credit Panel before 1 July next year.

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Crypto Assets

NFT status adds to complexity

NFT SMSF

There is an increased amount of complexity to a situation where an SMSF holds an NFT due to the ATO’s classification of these types of assets.

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