Articles by Jason Spits

Fixed Income, Investments

Fixed income app expands to SMSFs

Blossom fixed income investment app SMSF

A fixed income investment firm that provides access to its fund via a mobile app has expanded its focus to include SMSF investors.

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Administration, SMSF, SuperStream

SuperStream reducing rollover barriers

SuperStream SMSF rollover

SuperStream has made smaller rollovers more cost-effective, but the process still provides little feedback on what is taking place and potential problems that may occur.

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financial advice, Superannuation

Super awareness high, but advice needed

superannuation awareness financial advice MLC

Australians are generally aware of the role of superannuation, with some making additional contributions, but still want help to deal with unexpected change.

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ATO, Death benefits

ATO confirms member benefit stance

ATO private binding ruling death benefit

The ATO has demonstrated it will view a trustee’s awareness of the death of a super fund member as important when deciding how to define benefit payments around the time of their passing.

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Administration, SMSF

Financial assistance more than cash loan

Financial assistance SIS Act SMSF

Breaches of the financial assistance obligations can extend beyond lending cash, with the rectification measures potentially harsh regardless of the assets involved.

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Retirement

Member status key for lump sums

SMSF in-specie lump sum payment

The status of an SMSF member may represent a bigger barrier to an in-specie lump sum payment than the underlying assets exiting the fund.

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Business News, Education

Heffron expands education offering

Heffron Meg Heffron Education Superannuation sector Super in 60

Heffron has expanded the scope of its education offering to include professionals who do not actively work with superannuation, but need regular updates about developments in the sector.

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Compliance, SMSF, Superannuation

Sole purpose must be starting point

SMSF sole purpose test

SMSFs should never try to retrospectively fit fund transactions under the sole purpose test, but use it as a first point of reference when deciding on fund-related actions.

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Contributions, Retirement, Superannuation

SG working, but some may fall short

Superannuation guarantee contributions ASFA comfortable retirement standard

The superannuation guarantee will help many people reach a comfortable retirement, but some will have to work longer or save more to reach that standard.

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Superannuation

Low interaction limits retirement outcomes

Objective of superannuation accumulation retirement Stephen Jones

Limited content during the accumulation phase has led many superannuation funds and members to have very limited interaction when moving into retirement phase.

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