Articles by Jason Spits

ATO, Superannuation

Wind-ups peak but growth continues

SMSF wind-ups

New ATO data shows the level of SMSF wind-ups peaked in 2017/18, but the size of the SMSF sector continues to grow steadily.

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Pensions

Time to review commuted pension reporting

commuted market-linked pension

The passing of a recent omnibus bill has restarted the clock for SMSFs to report when members have commuted a market-linked pension.

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Pensions, Regulation

Exam bill brings other changes

pension death benefit

The welcome news of a longer time frame to complete the adviser exam has overshadowed necessary changes to lingering death benefit and pension issues.

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FASEA

Industry applauds passing of exam extension

FASEA exam

The passing of a bill extending the deadline for advisers to complete the FASEA exam has been widely welcomed by the financial advice sector.

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ETFs

SSGA model portfolio ETFs added to HUB24

SSGA ETF HUB24

Four ETF model portfolios from State Street Global Advisors will be available to financial advisers through the Hub24 platform.

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ATO, Tax

Not all NALI is off ATO radar

ATO NALI provisions

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

MyPlanner Professional Services

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

FASEA exam bill

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

NALI RPL LRBA

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

Sam Henderson dishonest conduct

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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