Articles by Jason Spits

Financial Planning, Regulation

Advice regulations decades out of date

financial advice regulations

The regulations for financial advice are based on products and issues from 20 years ago which has driven up the current cost and complexity of advice for consumers.

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ASIC

Ex-van Eyk Research head faces court

van Eyk dishonesty charges

Seven years after van Eyk Research’s closure, ASIC has brought legal action against its former CEO, alleging he used his position to dishonestly gain an advantage for himself.

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Retirement, Superannuation

Retiree cost of living rises marginally

retirees cost living

The cost of a comfortable retirement increased slightly in the March quarter, with retirees spending more money on their homes and entertainment as COVID-19 restrictions eased.

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Property

Map transactions before developing property

property development transactions

SMSFs considering property development should map out the transactions required to avoid being accused of conducting a business within the fund.

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ATO, Superannuation

ATO offers dedicated help for SAR lodgements

ATO SMSF annual returns

The ATO will offer priority assistance to SMSF practitioners seeking a deferral arrangement for the lodgement of SMSF annual returns.

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Pensions

Death benefits locked into super

death benefits superannuation

Death benefits can be hard to turn off in a superannuation environment and may even become a burden for members who don’t want them.

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ATO, Tax

No SAR extension this year

SMSF Annual Return extension

Advisers and trustees should not expect any extension to the SMSF Annual Return lodgement date despite one being granted last year.

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Education, FASEA

FASEA adds to list of approved courses

FASEA approved courses

The list of approved courses continue to grow as Financial Adviser Standards and Ethics Authority adds two qualifications.

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Contributions

Trustees mistiming contributions reserves

reserved contributions

The early use of reserved contributions continues to trip up trustees, denying members a tax deduction, a technical expert has warned.

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Superannuation

Budget soft campaign start for next election

budget election

The welcome changes to superannuation in this year’s federal budget make up part of the government’s soft campaign launch for the next election.

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