Articles by Jason Spits

Superannuation

SGC pause sensible at current time

superannuation guarantee pause

Temporarily pausing the increase in the SGC rate makes sense during a time of recession and flat wages growth, a major accounting body has claimed.

read more
Superannuation

Hume rules out extra top-up measures

superannuation top up

The government won’t be introducing extra measures to top up the super balances of people who made use of the coronavirus-related early release provisions.

read more
Financial Planning, Investments

Strategy focus must emphasise non-advice

SMSF investment strategies advice

SMSF practitioners have been given a prime opportunity to discuss investment strategies, but must emphasise the discussions are client driven and not advice.

read more
ATO, Compliance

Missing details most common SAR error

SMSF annual return errors

Missing bank and auditor details have been identified as common errors made by SMSF trustees lodging annual returns, according to the ATO.

read more
LRBA

LRBA loophole should be left alone

intermediary LRBA loophole

A loophole that leaves intermediary LRBA loans outside of the total super balance add-back provisions has been exposed, but should not be exploited, according to an SMSF legal expert.

read more
Property

Property shifts into funds need scrutiny

SMSF property sole purpose

SMSF trustees looking to move property into their fund should be questioned as to what their plans and motives are to avoid breaches of the sole purpose test.

read more
Superannuation

Cross bench key to larger SMSFs

six-member SMSFs

Any chance the government has of allowing the creation of six-member SMSFs rests with the minor parties in the Senate.

read more
ATO, LRBA

Privately funded LRBAs assured of tax relief

Privately funded LRBAs

The SMSFA has welcomed an ATO statement that LRBAs using private borrowings will not have an adverse tax outcome under COVID-19 relief measures.

read more
ATO

ATO praises SMSF sector

ATO praises SMSF sector

The tax commissioner has praised the efforts of the SMSF Association and its members in implementing COVID-19 relief measures and ensuring trustees maintained their obligations in 2020.

read more
Financial Planning

ASIC notes unease on affordable advice

ASIC affordable advice

The financial advice sector views affordable advice regulations as too complex and against the needs of clients, according to feedback received by ASIC.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.