Articles by Jason Spits

ATO, Auditing, Valuations

Check valuation challenge assumptions

Trustees can push back against an ATO challenge to the valuation of an asset, but should be able to prove why they believe the regulator is wrong.

Trustees can push back against an ATO challenge to the valuation of an asset, but should be able to prove why they believe the regulator is wrong.

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SMSF, Trusts

Ensure trustee company status maintained

The difficulty in reinstating a deregistered trustee company increases where a director is absent and can be avoided by an annual review.

The difficulty in reinstating a deregistered trustee company increases where a director is absent and can be avoided by an annual review.

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Contributions

NCC increases reopen bring forwards

The increases in the non-concessional contribution caps will require advisers to more frequently review whether clients can use bring-forward strategies.

The increases in the non-concessional contribution caps will require advisers to more frequently review whether clients can use bring-forward strategies.

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Retirement, Superannuation

Correct release conditions critical

Advisers need to direct clients to pick the correct condition of release to provide the fullest access to their superannuation savings.

Advisers need to direct clients to pick the correct condition of release to provide the fullest access to their superannuation savings.

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Contributions, Property

In-specie contribution reserving valid

Changes to the superannuation rules mean the use a reserving strategy to make an in-specie contribution to an SMSF may be possible.

Changes to the superannuation rules mean the use a reserving strategy to make an in-specie contribution to an SMSF may be possible.

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ATO, Compliance

Education directive process confirmed

The ATO has stipulated how it will enforce compliance for trustees who make inadvertent errors and when to escalate that approach.

The ATO has stipulated how it will enforce compliance for trustees who make inadvertent errors and when to escalate that approach.

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Pensions, Regulation

Legacy pension amnesty process clarified

Legacy pensions that are not commuted will now retain their asset test exempt status under new rules released by the government.

Legacy pensions that are not commuted will now retain their asset test exempt status under new rules released by the government.

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ETFs, Investments

Second Global X growth focused ETF

Global X has added a second Growth at a Reasonable Price ETF to its product suite focusing on quality Australian companies.

Global X has added a second Growth at a Reasonable Price ETF to its product suite focusing on quality Australian companies.

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financial advice, Financial Planning, SMSF

SMSF structure stymies compensation

The Compensation Scheme of Last Resort has called for changes to payments that could be delayed due to SMSF trust structures.

The Compensation Scheme of Last Resort has called for changes to payments that could be delayed due to SMSF trust structures.

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ASIC, Education, financial advice, Financial Planning

Education disclosure still lagging

Around one fifth of advisers have yet to disclose whether they have met education standards which will allow them to practice next year.

Around one fifth of advisers have yet to disclose whether they have met education standards that will allow them to practice next year.

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