Articles by Jason Spits

ATO

SMSFA calls for NALE clarity

SMSF Association NALE clarity

While the SMSF sector awaits a final ruling on the handling of non-arm’s-length expenses (NALE) rules, a further call has been made for greater clarity around what trustees can and can’t do for their fund.

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Superannuation

SGC halt hypocritical and broken promise

Super guarantee promise

Halting SGC increases would be unfair to workers and a departure from stated government policy at the last election, the opposition has claimed.

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Compliance

SPT breaches often linked to other failures

Sole purpose breaches

SMSF trustees need to be alert to the need to comply with the sole purpose test, with many contraventions often tied back to a failure to meet the test.

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Technology

SuperConcepts to release new admin product

SuperConcepts administration product

SuperConcepts will offer advisers a new full-service administration product that draws on the whole scope of its service offering.

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ASIC

Adviser banned for dishonest conduct

Adviser banned dishonest conduct

ASIC has banned a former Sydney financial adviser , who was unable to be present at trail, for dishonest conduct involving client funds

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Education

TPB considers increasing education hours

TPB continuing education

Financial advisers registered with the TPB may see a 25 per cent increase in their ongoing education requirements, but will be able to gain credit for FASEA-mandated training.

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ASIC

Ex-accountant wins partial appeal

accountant partial appeal

A former accountant who recommended the use of SMSFs has successfully appealed against three charges of obtaining financial advantage by deception.

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ETFs

BetaShares to launch cloud-focused ETF

BetaShares cloud computing ETF

The ongoing expansion of cloud computing has prompted BetaShares to launch a new ETF focused on the sector for Australian investors.

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Technology

Class commits to tech spend

Class SMSF

Class will continue to move away from its SMSF administration roots, building out new business lines and exploring potential opportunities within in the estate planning sector.

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Appointments, Estate Planning, Succession Planning

Wealth transfer body names new directors

wealth transfer new directors

Three new directors have joined a fledgling association looking to represent the interests of advisers working in the wealth transfer space.

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