Articles by Jason Spits

Education, FASEA

One quarter of all advisers pass FASEA exam

FASEA exam

The latest FASEA exam results show a further 1800 advisers have passed, increasing the total number to more 25 per cent of all advisers.

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Investments

Downturn not deterring investors yet

downturn investors

Retail investors have chosen to ride out the recent market downturn, but remain less than optimistic about long-term growth and government debt.

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Superannuation

Bankruptcy preferable to illegal early release

bankruptcy illegal early release

Trustees looking to raid their SMSFs to prop up a small business would be better off facing bankruptcy than the consequences of illegal early release, according to a legal expert.

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Investments

Asset allocations must stay true to fund strategy

asset allocations investment strategy

Trustees can make changes to their investments in response to the recent market downturn, but they should be consistent with the SMSF’s investment strategy.

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Documentation

Print trust deed until all states go electronic

paper trust deeds

NSW has moved ahead of other states and territories with electronic trust deeds, but trustees should still opt for paper until the move is universal.

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Documentation

Choose wisely to avoid document subpoenas

legal documents subpoenas

Being able to prevent legal access to documents is a value-add lacking in some document providers and cannot be offset by lower cost, according to a legal firm.

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Education, Pensions, Superannuation

SuperConcepts issues COVID-19 e-books

SuperConcepts coronavirus e-books

SuperConcepts will offer free e-books to people impacted by recent changes to superannuation and pensions as a result of COVID-19.

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Pensions

Trustees must check pension timing

minimum pension timing

Trustees who have been paid more than the new minimum pension amount need to check the timing of payments before seeking to use the excess as a commutation.

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ATO, Property, Superannuation

Don’t game early release provisions

superannuation early release provisions

Superannuation money accessed under early release provisions should not be funnelled back to offset tax in or outside the fund, an SMSF administrator has warned.

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ATO, Investments

In-house asset obligations must be maintained

in-house asset relief

The ATO’s coronavirus relief provisions do not extend to in-house asset ratios or investment strategies, with trustees reminded to maintain their obligations.

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