Articles by Jason Spits

Financial Planning, Superannuation

ROAs pointer for new advice framework

records of advice framework

The use of records of advice for the early release of superannuation will be used to show advisers can provide specific advice confined to a single issue.

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Superannuation

Bad advice compensation not a contribution

compensation SMSF contribution

SMSF members expecting compensation related to bad advice can receive the payments without breaching contribution limits, but need to know which members will receive it.

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Pensions

Market-linked pension rollovers a trap

market-linked pension rollovers

Rolling over a market-linked pension from an SMSF can create hard-to-escape traps for members with low balances, as well as those with very high balances.

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Auditing

Evolv releases audit risk identification tool

evolv audit risk

SMSF audit software provider Evolv has unveiled a new tool that identifies areas of potential risk in an audit.

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Fixed Income

Trustees ignoring fixed income

fixed income SMSF

Trustees are failing to use fixed income investments for yield and are instead relying on equities despite recent market downturns.

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Investments

Frozen fund investors given hardship relief

frozen fund relief

Investors with money locked in frozen managed funds will be able to access up to $100,000 under new ASIC relief measures.

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ASIC, Financial Planning

Henderson pleads guilty to dishonest conduct

Sam Henderson guilty

Former financial adviser Sam Henderson has pleaded guilty to charges related to false claims he held a Master of Commerce qualification.

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Documentation

Court case confirms EPOA risks

SMSF enduring power of attorney EPOA

A recent court case has highlighted the risks linked with not limiting the extent of an enduring power of attorney.

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ASIC, Financial Planning

ASIC bans adviser over risky advice

ASIC banned Adelaide adviser

An Adelaide-based adviser has been banned for failing to act in his clients’ best interests, including giving advice that ignored the SMSF investment strategy.

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Superannuation

Control still key driver for SMSFs

SMSF investment control

Control over investments remains the key driver for setting up an SMSF, with concerns over property being overblown, according to new research.

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