Articles by Jason Spits

Accounting, ASIC, financial advice, Financial Planning

Advisers major funders of ASIC actions

Advisers are the key funders of ASIC operations, yet no enforcement proceeds are used to bolster the sector against future problems.

Advisers are the key funders of ASIC operations, yet no enforcement proceeds are used to bolster the sector against future problems.

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Division 296, Strategy, Tax

Super may still be best Div 296 option

High-balance SMSF members are likely to find their fund is still the most tax-effective savings vehicle despite the Division 296 tax.

High-balance SMSF members are likely to find their fund is still the most tax-effective savings vehicle despite the Division 296 tax.

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Death benefits, Superannuation

Death benefit regime out of date

The payment of death benefits needs to be realigned with modern definitions of who may be considered a family member or dependant.

The payment of death benefits needs to be realigned with modern definitions of who may be considered a family member or dependant.

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Education, financial advice, Financial Planning

Advice growth needs govt support

The advice sector needs the government to re-engage in efforts to support its growth and continue with plans it has previously announced.

The advice sector needs the government to re-engage in efforts to support its growth and continue with plans it has previously announced.

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Pensions, SMSFA

Pension payment fix proposed

A legislative amendment should be made to deal with the need to recalculate pensions that have failed to make minimum payments.

A legislative amendment should be made to deal with the need to recalculate pensions that have failed to make minimum payments.

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Insurance, SMSF

SMSF trustee insurance product released

An insurance policy that protects SMSFs and trustees from the impact of failures, fraud and regulatory action has been launched.

An insurance policy that protects SMSFs and trustees from the impact of failures, fraud and regulatory action has been launched.

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Division 296, SMSF, Tax

Strategise Div 296 payment sources

SMSF members who will pay Division 296 tax should look to reduce other taxable components in super when making those payments.

SMSF members who will pay Division 296 tax should look to reduce other taxable components in super when making those payments.

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AFCA, financial advice, Financial Planning

Shield, First Guardian complaints to grow

Financial advice complaints received by AFCA increased markedly last year, with more expected due to the collapse of Shield and First Guardian.

Financial advice complaints received by AFCA increased markedly last year, with more expected due to the collapse of Shield and First Guardian.

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Compliance, Contributions, Legislation, Regulation

General TBC to increase to $2.1 million

The general transfer balance cap will undergo its third increase in four years after inflation spiked at the end of last year.

The general transfer balance cap will undergo its third increase in four years after inflation spiked at the end of last year.

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ASIC, Auditing, Compliance

ASIC acts against 28 SMSF auditors

Failure to meet professional obligations and standards has resulted in disqualifications and cancellations for more than 25 auditors.

Failure to meet professional obligations and standards has resulted in disqualifications and cancellations for more than 25 auditors.

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