Articles by Darin Tyson-Chan

Investments, Portfolio Construction

OpenInvest looks to bridge advice gap

financial advice OpenInvest

A new wealth platform has been introduced to the market that will give individuals better access to investment portfolios and financial advice.

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ATO, Superannuation

Temporary ESA solution complex

ESA SuperStream

The ATO has outlined a complicated solution to allow SMSFs with an ESA that is not rollover ready to receive a transfer of benefits.

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Superannuation

Corporate trustee now winning the day

corporate trustee SMSF

Having a corporate trustee is now the preferred operational structure for SMSFs at establishment and during the fund’s lifespan.

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ATO, Contributions

SuperStream may affect year-end strategy

SuperStream contribution strategy

The SuperStream system could have a significant effect on the common contribution reserve strategy should it be applied more broadly to SMSFs.

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Regulation, Retirement

SMSFs get retirement income covenant bypass

retirement income covenant

SMSFs will not be bound by the proposed legislation requiring superannuation fund trustees to formulate a retirement income strategy for members.

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Retirement

COVID-19 impacts retirement plans

retirement COVID-19

Investor research has shown Australians have changed their attitudes towards retirement as a result of the coronavirus pandemic.

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Superannuation

Bank statement can’t provide strategy order

SMSF bank statement

Transaction narratives appearing on an SMSF bank statement have no relevance in determining which member account a withdrawal is applied against.

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ATO

ATO can monitor work test

ATO work test

The ATO has the ability to determine if people over the age of 66 who have made personal super contributions have satisfied the required work test.

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Financial Planning

Communicating value of advice now critical

financial advice value

The experience in overseas markets like the UK shows communicating the value of advice will be key to the pursuit of success for practitioners.

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ATO

Annual return enforcement upped

SMSF annual return enforcement

SMSF trustees who are failing to meet their legal obligation of lodging their fund’s annual return are to face new ATO enforcement procedures.

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