Articles by Jason Spits

Contributions

Missed contributions not end of the road

bring forward Contributions

Missed opportunities to make bring-forward contributions may open up the possibility for larger contributions under other new rules in the coming financial year.

read more
ASIC, Auditing

Auditor disqualified for independence breach

SMSF auditor disqualified

ASIC has disqualified the SMSF auditor registration of a Sydney-based practitioner who was found to be lacking independence and failed to obtain evidence when required to do so.

read more
Compliance, Regulation

Best financial interests duty not a chore

SMSF best financial interests

SMSF trustees should have no difficulty complying with the incoming best financial interests duty as it coincides with their interests as beneficiaries.

read more
Documentation

Super law can still link ex-spouses

former spouse SMSF

Former spouses seeking to make financial transactions via an SMSF may still be linked under super law and thus prohibited from doing so.

read more
ATO

ATO issues TBAR, bank account reminders

ATO TBAR bank account

The ATO has issued eleventh-hour reminders to SMSF trustees to complete urgent housekeeping activities to ensure the smooth running of their funds.

read more
Auditing

Limits to sources of audit fees defined

Independence audit fees

The level of SMSF audit fees from a single source that will be considered a threat to independence has been spelt out by the APESB.

read more
Education, FASEA

Serial flunkers given one last chance

FASEA exam pass

Advisers who have failed to pass the FASEA exam on two occasions will be given one last opportunity to do so next year under a new exemption.

read more
Contributions

Excess charge move not industry call

Excess concessional charges

A change to legislation that will remove charges for excess concessional contributions may result in misuse and was not called for by the SMSF sector.

read more
Investments

Collectables require expert advice

SMSF collectable

SMSFs holding collectable assets should rely on third-party expert opinions as to their value and place in the fund strategy instead of those of the trustees.

read more
Contributions

Contribution transfers should be active now

Contribution transfers

SMSFs using a clearing house to make end-of-year contributions should have taken action already to ensure the funds are processed by 30 June.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.