Articles by Jason Spits

Financial Planning, Tax

Tax adviser shift will create more complexity

tax financial advisers

Plans to streamline the registration of advisers who provide tax advice remain unclear and should be put aside so other key changes can occur.

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AFCA, Appointments

AFCA promotes seven to streamline complaints

AFCA promotions

The Australian Financial Complaints Authority has appointed seven staff to senior roles to make its decision-making more consistent and timely.

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FASEA, Regulation

Bill creating disciplinary body passes

Better Advice Bill

Legislation that will formally end the work of FASEA and create a government-run disciplinary body has passed through parliament.

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FASEA

FASEA pass rate continues to drop

FASEA exam advisers

The number of advisers sitting and passing the most recent FASEA exam has declined again, continuing a trend seen across the year.

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NALI/NALE, Superannuation

Financial interest duty unclear on NALE impact

best financial interest NALE

The best financial interest duty remains unclear as to whether SMSF trustees that trigger a NALE event inside their fund will be able to use fund assets to pay the tax bill.

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Education

Advisers embrace education en masse

advisers education

Financial advisers have drastically increased their uptake of courses to meet FASEA’s education standards, according to statistics released by the authority.

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NALI/NALE

Industry marshals NALE arguments

NALE super funds

A group of industry associations will collectively present case studies highlighting the impact of NALE provisions on super funds as part of a push to make changes.

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NALI/NALE

Government reviewing NALE impact

SMSFs NALE impact

The government is looking at the impact of NALE provisions on SMSFs and may offer a solution, according to an industry body.

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Financial Planning, Property

COVID issues key adviser concerns

advisers COVID relief

COVID relief measures for SMSFs and the use of property have been key areas of concern for advisers in the past quarter.

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Estate Planning, Retirement

Be wary about claims around incapacity

SMSF trustee incapacity

Any claims about the incapacity of an SMSF trustee must come with fully documented evidence and should not rely only of the word of an attorney.

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