Articles by Jason Spits

Business News

Best SMSF service providers for 2019 awarded

SMSF service providers awarded

The leading service providers to SMSF advisers have been named by selfmanagedsuper for the seventh consecutive year.

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Property, Superannuation

Foreign purchaser duty may hit overseas-born trustees

foreign purchaser duty overseas-born trustees

SMSFs with New Zealand-born trustees may be considered as foreign trusts if the trustees don’t hold a residency visa at the appropriate time.

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ATO, Investments, Superannuation

ATO requests SMSFs show detailed investment strategy

ATO SMSFs investment strategy

The ATO will ask some SMSFs to produce detailed investment strategies to justify why their investments are held in single assets.

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Administration, ATO

ATO ends use of spreadsheet TBARs

spreadsheet TBARs

SMSF advisers will be forced to use online tools to lodge transfer balance account reports after the ATO announced it will no longer accept spreadsheet-based reports after 31 October.

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Compliance, Superannuation

Trustees reminded to self-report SMSF breaches

SMSF trustees contraventions ATO

The ATO has given SMSF trustees a reminder to self-report any contraventions, but also to be prepared to come with solutions when seeking its help.

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Compliance, Investments

Investment strategies doing bare minimum for SMSFs

SMSF investment strategies compliance

Investment strategies are being used to meet compliance hurdles and not fund member outcomes, despite clear guidance being provided on their use.

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Compliance, FASEA

Govt progresses new adviser disciplinary body

new adviser disciplinary body

Advisers will fall under a new single body tasked with their registration and discipline as the government pushes further ahead with its responses to last year’s royal commission.

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Administration, ATO

Advisers warned to hold off on servicing own funds

SMSF non-arm's length income

SMSF advisers should wait for clarification as to whether managing their own fund’s affairs will be captured by changes to the non-arm’s length income regime.

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Appointments

SMSF Association to seek new head of policy

SMSF Association head of policy Jordan George

The SMSF Association will begin the search for a new head of policy to replace Jordan George who will leave before the end of August.

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Documentation, Property

Poor asset valuations not considering all factors

SMSF asset valuations

The source of asset valuations needs to be carefully considered with some providers overlooking key factors which may be later examined by the ATO.

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