Articles by Jason Spits

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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Documentation, Strategy

Members must track contributions

smsf trustees contributions

SMSF members must track their ongoing contributions to ensure they can fully use bring-forward measures without creating an unexpected excess contribution.

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ATO, Superannuation

Accounts deadline for ATO only

SMSF financial accounts ATO

A proposed deadline for the finalisation of SMSF accounts will only increase the penalties the ATO can apply and do nothing for SMSFs, industry bodies have claimed.

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ASIC

Court action over SMSF advice EU

accountant SMSF advice

ASIC has returned to court to force an accountant to comply with the terms of an enforceable undertaking relating to a banning for SMSF advice.

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Retirement

Self-funded retirees welcome review report

Self-funded retirees review

Self-funded retirees have welcomed the Retirement Income Review final report as a necessary, fact-based appraisal useful for creating new policies.

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Retirement

Retirement system ontrack

Retirement income system

The federal government has highlighted findings from the Retirement Income Review final report that the current model is adequate and functional.

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Superannuation

SG rise not needed with improved efficiency

superannuation guarantee increase

Greater efficiencies in the retirement income system could allow people to have adequate retirement income without an increase in the superannuation guarantee, a retirement review has claimed.

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Retirement, Superannuation

Retirement objective a community decision

Retirement objective

The greater community needs to set the objective for the retirement income system but must avoid vague outcomes that achieve little, the Retirement Income Review has recommended.

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