Articles by Jason Spits

ATO, SMSF, Superannuation

Excess release less work than SG opt-out

Releasing excess concessional contributions is easier than trying to opt out of super guarantee payments that created the surplus in the first place.

Releasing excess concessional contributions is easier than trying to opt out of super guarantee payments that created the surplus in the first place.

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Compliance, Regulation, SMSF, Superannuation

Court orders wind-up of rollover scheme

A managed investment scheme linked to superannuation rollover advice will be wound-up after the Federal Court ordered its closure.

A managed investment scheme linked to superannuation rollover advice will be wound up after the Federal Court ordered its closure.

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Contributions, SMSF, Tax

Reserving useful to stymie Div 293

SMSF members facing a Division 293 tax bill should consider a contribution reserving strategy as a method to offset the additional impost.

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Auditing, NALI/NALE

NALE identification role shared

Tax agents have a shared role with auditors in identifying where NALE has arisen in an SMSF and a failure to recognise it may be a breach of their obligations.

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Investments, Markets

SMSFs follow trend to mining stocks

Advised SMSFs showed more diversity in their leading stock picks during March as many investors showed a preference for mining shares.

Advised SMSFs showed more diversity in their leading stock picks during March as many investors showed a preference for mining shares.

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Investments

Low cash rates costing thousands

SMSFs may be able to generate thousands more in interest rate returns from cash investments by looking for a new provide rather than remaining loyal to a low-rate provider.

SMSFs may be able to generate thousands more in interest rate returns from cash investments by looking for a new provider rather than remaining loyal to a low-rate provider.

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Death benefits, Trusts

Lapsed BDBN a matter of discretion

A trustee can consider the directions of a lapsed BDBN when paying benefits, but should no longer view it as obligatory and should use discretion instead.

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Pensions

Debt waiver adjustment needed

SMSF Association, Department of Social Security, Centrelink, legacy pensions, Treasury, regulations, 

The debt waiver to be applied to the commutation of legacy pensions should be extended to ensure they retain their asset test exempt status.

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Auditing, Regulation, SMSF, Superannuation

New stakeholder in ASF Audits

ASF Audits, Fortitude, Nick Miller, Chris Atkins, Casey McGrath, Fortitude Investment Partners, Adelaide,

A private equity firm has taken a large stake in ASF Audits as one of its longest serving staffers announces his departure.

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ATO, Legislation, SMSF, Superannuation, Tax, Trusts

Avoid state trustees in estate plans

Cooper Grace Ward, Sarah Camm, Gainer, Clinton Jackson, Annual Adviser Conference, Brisbane, ATO,

State or public trustees should be avoided as a back-up plan in SMSF estate plans as they often don’t want the job and assigning it to them could breach superannuation laws.

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