Articles by Darin Tyson-Chan

Superannuation

Trust deed has final BDBN sway

trust deed BDBN

The trust deed is more important than any rules of law with regard to binding death benefit nominations that are not constrained by a set time frame.

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Retirement, Superannuation

QROPS reporting a wind-up issue

QROPS SMSFs

Specific circumstances must be taken into account when looking to wind up an SMSF with retirement savings balances transferred from the UK.

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Documentation

E-signatures can prove liability

electronic signatures practitioners

The use of electronic signatures has the ability to create an audit trail that can increase the degree of professional risk practitioners face.

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NALI/NALE

NALE detection hard for auditors

NALE SMSF auditor

Trustees and their advisers cannot automatically assume transactions involving NALE will be detected by an SMSF auditor.

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Superannuation

EPOA not only overseas trustee fix

EPOA overseas trustee

Appointing an enduring power of attorney to satisfy legal obligations may not always be the best solution for SMSF trustees relocating overseas.

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Auditing

More auditor interaction needed

auditor SMSF

Measures affecting SMSFs as a result of COVID-19 should encourage trustees to consult with their fund auditor more often.

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Regulation

Dixon Advisory enters voluntary administration

Dixon Advisory administration

Dixon Advisory and Superannuation Services has appointed voluntary administrators amid insolvency fears stemming from regulatory and legal action.

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ATO

SuperStream glitches hard to fix

SuperStream problems

SuperStream rollovers containing errors with the required relevant details have presented a challenge to resolve for practitioners.

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Superannuation

SMSF wind-up seldom compulsory

SMSF wind-up

An SMSF wind-up is only compulsory in one situation, even though some trustee circumstances may appear to dictate this course of action is necessary.

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ATO

Fund Lookup processes need review

Super Fund Lookup review

The efficiency and accuracy of the Super Fund Lookup system can be improved by streamlining the internal processes currently involved.

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