Articles by Jason Spits

Residential Property

Part sales of property eligible for downsizer

downsizer partial sale

Retirees will still be able to make downsizer contributions when selling only part of a property after an investing firm sought clarity on the issue from the ATO.

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ASIC

ASIC begins Dixon Advisory civil proceedings

ASIC Dixon Advisory

ASIC has started civil penalty action again investment, retirement and SMSF advisory firm Dixon Advisory over claims of conflict of interest and best interest failures.

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Superannuation

Six-member funds back on table

six-member SMSFs

The government has revived its plans to allow six-member SMSFs after introducing legislation into parliament to enact the change.

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Accounting

Be cautious around SMSF loan discussions

SMSF loan refinancing

Accountants have been warned to tread lightly when discussing SMSF loan refinancing in the coming months and be certain to keep their advice within tight limits.

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Education, FASEA

FASEA offers credits for postgraduate study

FASEA postgraduate

FASEA plans to recognise postgraduate qualifications and historical courses offered by professional bodies under new amendments to its course list.

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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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