Articles by Jason Spits

Tax

NALE no-action period extended

March 25, 2021

The ATO will not take action in regards to non-arm’s-length expenses for another year, but has yet to decide on a final position on the matter.

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ATO, Auditing

SAN misuse reporting at new high

March 25, 2021

Jason Spits

Auditors have responded positively to an ATO call for data regarding SMSF auditor number misuse, providing more insight into errors related to the annual audit process.

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ASIC, Financial Planning

ASIC releases new ongoing fee rules

March 25, 2021

Jason Spits

ASIC has released new rules around what consent advisers need to secure when using ongoing fee arrangements with clients.

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Superannuation

Six-member fund ideal asset holding structure

March 24, 2021

Jason Spits

The use of larger SMSFs as asset holding structures was overlooked in the government’s promotion of them as family super vehicles.

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LICs

LICs grow off new asset offerings

March 24, 2021

Jason Spits

The offering of LICs on assets beyond Australian shares has resulted in sizeable growth for the sector as investors use a stable model to access new opportunities.

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Estate Planning

New body aiming to prevent advice disasters

March 23, 2021

Jason Spits

Wealth transfer association, SAPEPAA, has stated its purpose was to prevent ‘the horror stories’ that result from bad advice associated with wealth transfer matters.

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Business News

SuperConcepts strengthens BDO partnership

March 23, 2021

Jason Spits

SuperConcepts and BDO have extended a partnership in which the two will offer services to each other’s clients.

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Superannuation

Minister praises SMSF sector growth

March 22, 2021

Jason Spits

The steady growth of the SMSF sector has been highlighted by a government minister who has noted its rising place within the superannuation system.

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ATO

ATO updates alert system

March 22, 2021

Jason Spits

The ATO has expanded the alerts it will provide to SMSF trustees when changes take place within their fund.

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Documentation

Check ejection strategy before adding members

March 18, 2021

Jason Spits

An SMSF planning to eject a member must ensure they are informed about the process from the outset and it is included in the fund’s admissions criteria.

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