Articles by Darin Tyson-Chan

Financial Planning

Financial advice complaints down

financial advice complaints

Consumers filed fewer complaints against organisations offering investment services and financial advice in the 2022 financial year.

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Compliance

In-specie death benefits complex

in-specie death benefits

In-specie death benefit transfers are problematic, but a pragmatic approach to these transactions can provide a compliance solution.

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ATO

Reminder COVID relief has expired

ATO COVID-19 relief

The ATO has issued a reminder to SMSF trustees and auditors for both groups to recognise the COVID-19 compliance relief measures no longer apply.

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ATO

ATO clarifies trustee disqualifications

ATO SMSF trustee disqualification

The circumstances influencing when the ATO looks to disqualify an SMSF trustee have been detailed in a new piece of guidance.

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Contributions

Win for small business owners

superannuation contribution

Changes to the superannuation contribution rules introduced on 1 July will advantage individuals looking to sell their small businesses.

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Investments

Gold integrated on admin service

Rush Gold SMSF

SMSF trustees can now access gold using manager Rush Gold in their superannuation portfolios by way of BGL’s administration and investment platforms.

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Retirement

COVID impacts retirement plans

coronavirus retirement planning

The coronavirus has had a significant effect on Australians’ retirement planning, with many believing they will have to stay working for longer.

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Auditing

Increase in auditor engagement

SMSF auditor

More trustees appear to be wanting to meet their SMSF auditor face-to-face to establish a level of comfort over the servicing of their fund.

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Investments

SMSFs still lack diversification

SMSF diversification

SMSF trustees’ preference for investing in direct shares is continuing to present diversification issues in their fund portfolios.

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Tax

Alternate deduction a big tax win

tax SMSF deduction

A substantial tax advantage can be enjoyed by SMSF trustees should they decide to use the alternate deduction method for risk insurance premiums.

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