Articles by Jason Spits

ASIC, financial advice, Regulation

NSW adviser banned over conflicts of interest

ASIC Australian Securities and Investments Commission Trust SMSF Self-managed superannuation fund Australian financial services licence Christopher Edward Luff

A NSW adviser who offered an investment trust product to clients within an SMSF has been banned for not acting in their best interest and for providing inappropriate advice.

read more
ATO, Compliance, ECPI, Tax

Avoid ECPI Div 296 exploits

ECPI exempt current pension income Division 296 tax Total superannuation balance TSB

SMSFs should avoid strategies that exploit the tax-free aspects of the ECPI rules to sidestep potential Division 296 tax liabilities as they are readily identifiable as avoidance schemes.

read more
Aged Care, financial advice

Super discussion should include aged care

Discussions with older clients about housing should touch on future aged-care needs before jumping straight to the role of super in funding a move.

read more
Legislation, SMSF, SMSFA, Tax

Unchanged Div 296 bill not certain

SMSF SMSF Association Self-managed superannuation Division 296 tax LRBA Limited recourse borrowing arrangement Peter Burgess Unrealised capital gains SMSF Association Technical Summit

The SMSF Association has predicted there is an even chance the proposed Division 296 tax bill will be amended over concerns relating to its calculation method and unrealised gains.

read more
financial advice, SMSF

SMSF specialists increase profitability

Investment Trends SMSF specialists profitability Irene Guiamatsia

SMSF specialists have moved away from charging lower upfront fees to clients in favour of showing why their advice is valuable in an effort to increase profitability.

read more
ATO, Death benefits, Estate Planning

Benefit destination may change tax treatment

ATO Death benefit dependant Superannuation Private ruling

The ATO has ruled a death benefit unable to be paid to a defined dependant cannot be received by their estate in the same form and loses any tax special tax treatment.

read more
Retirement, Superannuation

Make homes part of retirement funding

Retirement income Housing Home Superannuation Actuaries Institute Andrew Boal

The homes of retirees should be considered in discussions about funding retirement incomes, with changes made in pension policies to make it more attractive to drawn down on equity.

read more
ATO, NALI/NALE

ATO retains NALI nexus to CGT

ATO non-arm's-length income NALI capital gains tax CGT Tax Determination SMSF Association

The ATO will continue to view all capital gains in an SMSF as NALI where some of it has been the result of non-arm’s-length dealings.

read more
NALI/NALE, Tax

Fund income can reduce NALE hit

NALE Non-arm's length expenditure Taxable income

SMSF practitioners looking at how to apply the new NALE rules should keep in mind the level of taxable income in a fund can reduce the impact of any tax penalties.

read more
Retirement, SMSF, Superannuation

Leave payments may block super release

MLC TechConnect Julie Steed Superannuation Definition of Retirement Termination of employment

SMSF members ending work may not be retired from a super standpoint if they continue to receive any form of employer payments, which may restrict access to their savings.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.