Articles by Jason Spits

ATO, Tax

Not all NALI is off ATO radar

June 16, 2020

The ATO’s recent ‘no-action’ stance on some non-arm’s-length income (NALI) positions has overshadowed the fact that other provisions have applied since 2018.

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Financial Planning

SMSF advice group shuts doors

June 15, 2020

Jason Spits

An advice group offering licensing and SMSF advice services to planners and accountants that was under ASIC scrutiny has shut down.

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FASEA

FASEA exam bill at a political impasse

June 15, 2020

Jason Spits

Moves to extend the time frame for advisers to complete the FASEA exam remain caught up in parliament due to further amendments to an enabling bill.

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ATO, Tax

NALI action won’t void RPL rules

June 11, 2020

Jason Spits

SMSFs with LRBAs through a related party lender should stay within NALI provisions despite the ATO taking a no-action position until mid-2021.

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ASIC, Financial Planning

Henderson charged with dishonest conduct

June 10, 2020

Jason Spits

A banned financial adviser who was the subject of scrutiny at the financial services royal commission will face charges related to misrepresenting his qualifications to give advice.

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Documentation

SIS BDBN provisions unreliable

June 10, 2020

Jason Spits

SMSFs relying on SIS provisions regarding binding death benefit nominations (BDBN) may find them unreliable and unable to withstand a legal challenge

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Documentation

Govt move eases electronic document execution

June 9, 2020

Jason Spits

Issues around the electronic execution of SMSF documents have been simplified with temporary federal regulations removing different state-based requirements.

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Administration

Administrator offers data-matching portal

June 9, 2020

Jason Spits

SMSF Alliance has upgraded it portal, offering a data-matching service for trustees that can be used by advisers to generate new sources of fee income.

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Superannuation