Articles by Jason Spits

Auditing, Investments

Home gold storage legal, but ill-advised

SMSF gold

SMSF trustees can store investment gold in their own home, but auditors are questioning the existence of the asset and wisdom behind that plan.

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Auditing, NALI/NALE

Auditors considering NALE protections

SMSF auditors NALE protections

SMSF auditors may seek greater declarations from trustees regarding non-arm’s-length expenditure to prevent litigation in the future.

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ASIC

ASIC outlines ROA usage

ASIC record advice usage

Advisers have been given directions for when and how they can use a record of advice as part of ASIC’s effort to reduce the cost of advice.

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Superannuation

Separate funds simplify death benefits

death benefits SMSF

Despite an industry trend to add more people to an SMSF, having separate funds may create a simple way to manage death benefits for married couples.

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Business News, Investments

Marketech boosts stock trade offering

Marketech Marcus Today

Online share trading platform Marketech will join with stock market news service Marcus Today to boost their service offerings to investors.

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FASEA

FASEA seeks more input on conflicts standard

FASEA conflict of interest

The contentious conflict of interest standard in the FASEA Code of Ethics will be re-examined, with the industry called on to provide its views.

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Financial Planning

More claim they have unmet advice needs

unmet advice needs

More than 60 per cent of Australians have unmet advice needs as millions claims they will seek advice in coming years.

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Superannuation

DIN reluctance could lead to fund exit

corporate trustee director identification

Directors of an SMSF corporate trustee who do not obtain a director identification number may be kicked out of their fund and face ASIC action.

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ECPI, Superannuation

Actuarial certificate change savings limited

actuarial certificate

The cost savings for SMSFs no longer having to use an actuarial certificate to calculate fund income are likely to be small, not open to all funds and offset by other costs.

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Regulation

Compo scheme legislation introduced

compensation scheme legislation

Legislation to establish a compensation scheme of last resort has been introduced into parliament in line with a recommendation from the Hayne royal commission.

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