Articles by Jason Spits

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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Administration, Superannuation

SMSF costs below $3000 a year

SMSF costs $3000

A fintech firm has found the running costs of SMSFs can be under $3000 even where investment and brokerage fees are included.

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Superannuation

Super for housing will only increase prices

superannuation-for-housing

Allowing early access to superannuation for housing will only drive up prices while adding an unintended burden on the retirement income system.

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Retirement, Superannuation

Super hoarding not intent of system

hoarding super inheritance

Passing on superannuation as an inheritance to children may be a benefit of the retirement income system, but it was not one of its intended purposes, two politicians have claimed.

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Financial Planning, Regulation, Tax

Review calls for TPB rego on opt-out basis

TPB registration advisers

Financial advisers will automatically fall under the oversight of the TPB unless they opt-out under a recommendation put forward by Treasury.

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Retirement

Lack of alignment over annuity products

annuity products

The absence of new annuity products reflects a lack of alignment with the needs of retirees from products providers.

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ASIC, Superannuation

Property developer sentenced for SMSF fraud

Property developer SMSF fraud

A former Queensland property developer has been sentenced to five years’ imprisonment for defrauding SMSF investors.

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Superannuation

Foreign transfers need clear reporting

foreign pension transfers

SMSFs can receive funds from foreign pension schemes, but must ensure they report the transaction correctly at both ends, an SMSF administrator has advised.

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Strategy, Superannuation

Control is driver for fund set-ups

Control SMSF establishment

A new survey has confirmed control over retirement income investments is the chief reason for the establishment of SMSFs.

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Accounting, Financial Planning, Superannuation, Tax

Advice use could inject $600b into economy

advice economic boost

Widespread use of professional financial, superannuation, tax and accounting advice could provide billions in economic benefits to the nation, according to new research.

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