Articles by Jason Spits

SMSF numbers climb again

December 10, 2020

The SMSF sector has continued to grow through the COVID-19 pandemic, recording new highs for the number of SMSFs and fund members.

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FASEA

Government scraps FASEA

December 10, 2020

Jason Spits

Treasury and ASIC will take on the standard setting and exam administration of FASEA after the government announced it is winding down the latter.

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FASEA

Few tears shed over FASEA wind-up

December 10, 2020

Jason Spits

Plans to scrap FASEA and move its functions into existing government bodies have been met with widespread approval.

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Documentation

Can’t hide some dispute advice

December 9, 2020

Jason Spits

Trustees cannot withhold any legal advice they have sought during a dispute if it has been paid for by their super fund which in reality is the owner of the advice, an SMSF lawyer has noted.

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Superannuation

SMSF satisfaction grows as pandemic eases

December 9, 2020

Jason Spits

A wide ranging consumer survey has found increasing levels of satisfaction with superannuation with SMSFs ahead of industry and retail funds.

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Regulation, Tax

Off-market transfer practices hold NALI trap

December 8, 2020

Jason Spits

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

December 8, 2020

Jason Spits

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

December 7, 2020

Jason Spits

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