Articles by Jason Spits

Features

SMSF Champions

In a year like no other, the SMSF sector has continued to support the retirement plans of more than 1 million Australians, ably assisted by a range of service providers with the best recognised in the eighth annual selfmanagedsuper CoreData SMSF Service Provider Awards. Tharshini Ashokan and Jason Spits take a look at why advisers […]

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ATO, Superannuation

SMSF numbers climb again

SMSF numbers

The SMSF sector has continued to grow through the COVID-19 pandemic, recording new highs for the number of SMSFs and fund members.

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FASEA

Government scraps FASEA

Government scrap FASEA

Treasury and ASIC will take on the standard setting and exam administration of FASEA after the government announced it is winding down the latter.

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FASEA

Few tears shed over FASEA wind-up

FASEA wind-up

Plans to scrap FASEA and move its functions into existing government bodies have been met with widespread approval.

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Documentation

Can’t hide some dispute advice

SMSF dispute advice

Trustees cannot withhold any legal advice they have sought during a dispute if it has been paid for by their super fund which in reality is the owner of the advice, an SMSF lawyer has noted.

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Superannuation

SMSF satisfaction grows as pandemic eases

SMSF satisfaction

A wide ranging consumer survey has found increasing levels of satisfaction with superannuation with SMSFs ahead of industry and retail funds.

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Regulation, Tax

Off-market transfer practices hold NALI trap

Off-market transfers

Trustees should not rely on old habits when processing off-market transfers as NALI rules will create new tax burdens.

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Education

New course to boost SMSF knowledge

Smarter SMSF course

A new education offering will provide advice practitioners with entry-level SMSF training carrying CPD credits recognised by major industry associations.

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Regulation, Superannuation

Status hit for member increases

SMSFs six members

SMSFs looking to expand to six members need to be aware the addition of new trustees will take the fund offline for as long as the ATO takes to vet the new additions.

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Documentation, Superannuation

Expense duty will impact SMSFs

best financial interests

An understated budget change may require SMSF trustees to account for every dollar spent by their fund under an expansion of best interest duties.

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