Articles by Jason Spits

Estate Planning, Legislation, Regulation

EPOA system needs national rules

Enduring power of attorney EPOA elder abuse Estate planning FAAA

The use of enduring powers of attorney needs to be standardised across the country to prevent elder abuse and ensure attorneys are fit and proper persons.

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Retirement

Expand retirement funding model

three-pillar retirement funding Actuaries Institute

The three-pillar retirement funding model should be expanded to factor in the increased longevity of retirees and their access to income sources after finishing full-time work.

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Crypto Assets, Cryptocurrency, Regulation, SMSFA

Crypto assets must be regulated

Cryptocurrency Digital assets Regulation

The SMSF Association has flagged gaps in ownership information, risk of fraud and inappropriate advice as key reasons the crypto-asset space should be more tightly regulated.

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Retirement

Retirement income consultation welcomed

retirement income products services review consultation

Two advocacy groups have welcomed the government’s plans to review the retirement income product market and have called for end-users to be the driver behind any changes.

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Retirement, Superannuation

Govt to examine SMSF retirement income role

Superannuation Retirement

The government will examine how superannuation is being used in retirement and has asked how SMSFs are managing risks and maximising income for members.

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Retirement

Retirees spending less to stretch savings

Retirees are cutting back to ensure their savings last, but also regard current standards of living as too low to survive.

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SMSFA, Superannuation, Tax

Senators should reject super tax bill

Superannuation earnings tax $3m soft cap tax Unrealised capital gains senate crossbench

The SMSF Association is calling on crossbench senators to reject the government’s $3 million super earnings tax bill, which was introduced into parliament today.

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Pensions

Logical pension assessment allowed

SMSF minimum pension drawdown exceptional circumstances self assessment ATO

SMSF trustees can self-assess if their personal circumstances have an impact on their ability to pay minimum pensions, but need to do so in a pragmatic way.

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Auditing

Audit threshold test too low

SMSF audit financial threshold test

The financial threshold test applied during an SMSF audit is too low and should be increased or removed to reflect the change in balances of funds.

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