Articles by Darin Tyson-Chan

Superannuation

Multiple splitting order possible

SMSF spousal splitting

The use of a multiple splitting order in the event of a divorce between spousal SMSF members can be an avenue to a more equitable result.

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ATO

ATO to address practitioner non-compliance

ATO SMSF practitioners

The number of practitioners failing to meet their obligation as trustees to lodge the fund’s annual return on time is of concern to the ATO.

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ATO

SuperStream timing issues evident

SuperStream time frame

Practitioners are seeing very few rollovers from public offer funds to SMSFs occur within the required time frame under the SuperStream system.

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ASIC

La Trobe ordered to pay ASIC penalty

La Trobe ASIC penalty

The Federal Court has ordered La Trobe Asset Management to pay a significant penalty for false or misleading advertising regarding a credit fund.

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NALI/NALE

NALE detection could be difficult

NALE identification

Detecting non-arm’s-length expenditure situations may not be straightforward, regardless of examples provided in Law Companion Guide 2021/2.

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ASIC, Business News

Move made to freeze Dixon penalty payment

Dixon Advisory penalty

A class action law firm has attempted to stop Dixon Advisory and Superannuation Services from paying a $7.2 million penalty to the government.

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Accounting

AFCA gets tick of approval

AFCA review

AFCA has been found to be operating effectively and meeting its statutory obligations after its first mandatory government review.

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Regulation, Superannuation

Separation doesn’t mean SMSF exit

SMSF separation

Spousal separation by law does not have to result in the exit of one member from an existing SMSF, regardless of practical implications.

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Retirement

Advice focus shift required on retirement

advice retirement spending

The advice focus for pre-retirees and retirees needs to move towards spending guidance rather than some of the more traditional advisory themes.

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Technology

Next generation SuperMate to launch in 2022

SuperMate upgrade

SMSF accounting software platform SuperMate has undergone a complete upgrade and will be released into the market in February next year.

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