Articles by Darin Tyson-Chan

Administration, Superannuation

Admin fee discount needs defining

SMSF fee discount

The definition of discount provided on SMSF administrative fees, often given to partners or employees of accounting firms, requires clarification.

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Compliance, Regulation

SMSFA backs new disciplinary body

advisers disciplinary body

The government’s plans to form a single disciplinary body for financial advisers as an initiative to help streamline the advice sector has been welcomed by the SMSF Association.

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Estate Planning, Superannuation

Estate planning not formulaic

SMSF estate planning

SMSF practitioners need to be prepared for all situations that could possibly trigger the implementation of estate planning or fund succession strategies.

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Financial Planning, Superannuation

Advice billing rethink required

SMSF advice billing

Practitioners may need to revise their billing for SMSF advice clients from 1 July due to the legislation resulting from findings by the banking royal commission.

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ECPI

Actuaries may aid ECPI choice

actuaries ECPI method

Actuaries are looking to help determine whether to use segregated or proportionate method to calculate ECPI under the new legislation governing this area.

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ECPI

ECPI red tape reduction endorsed

actuarial certificate

Removing the need to obtain an actuarial certificate for claiming exempt current pension income in some circumstances has been applauded.

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Auditing, Superannuation

Price of audits expected to rise

SMSF audits price

Practitioners have indicated they believe SMSF audit prices will increase after 1 July due to the amendments to APES 110.

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Residential Property, Superannuation

Property developments okay with sole purpose

property development sole purpose

An SMSF running a property development in all reality is unlikely to be in breach of the sole purpose test, according to specialist lawyer.

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ATO, Superannuation

Disputed member exits an issue

member exits SMSF

Protracted member exits are beginning to be treated more severely by the ATO as it becomes a growing issue across the SMSF sector.

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ASIC, FASEA

ASIC supporting scaled advice

ASIC scaled advice

ASIC is working on solutions to allow practitioners to comply with their legal obligations while providing scaled advice.

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