Articles by Jason Spits

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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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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