Articles by Jason Spits

Superannuation

SMSFs face COVID-19 relief raids

SMSF assets COVID-19 relief

The government will look to the large sums held by SMSFs and concessions available to funds as a source of money to repay borrowings related to COVID-19 relief measures.

read more
Business News, Financial Planning

AFCA extends dispute timeframes

AFCA dispute timeframes

The Australian Financial Complaints Authority (AFCA) has provided more time for financial advice businesses to respond to complaints as part of its response to COVID-19.

read more
Documentation

SMSF documents likely to fail legal test

SMSF legal documents

Many SMSF documents are likely to fail future legal challenges and advisers should consider the source of the documents they use, according to an SMSF legal expert.

read more
ATO, Superannuation

In-house asset relief has limits

in-house asset

Trustees looking to correct an in-house asset breach from 2019 should take whatever action necessary to rectify it as the ATO will still be taking a look at any issues in that area.

read more
Property, Superannuation

Rent relief still unclear for 13.22c trusts

rent relief 13.22c trusts

SMSFs holding property via 13.22c unit trusts should hold off on providing rent relief until confirmation has been provided the measures will extend to these arrangements.

read more
LRBA, Superannuation

LRBA guarantees may trap the unwary

SMSF guarantees LRBA

SMSF members with personal guarantees for an LRBA should be aware any COVID-19-driven payments may be considered as contributions unless properly recouped from the fund, according to a legal expert.

read more
Education, FASEA

One quarter of all advisers pass FASEA exam

FASEA exam

The latest FASEA exam results show a further 1800 advisers have passed, increasing the total number to more 25 per cent of all advisers.

read more
Investments

Downturn not deterring investors yet

downturn investors

Retail investors have chosen to ride out the recent market downturn, but remain less than optimistic about long-term growth and government debt.

read more
Superannuation

Bankruptcy preferable to illegal early release

bankruptcy illegal early release

Trustees looking to raid their SMSFs to prop up a small business would be better off facing bankruptcy than the consequences of illegal early release, according to a legal expert.

read more
Investments

Asset allocations must stay true to fund strategy

asset allocations investment strategy

Trustees can make changes to their investments in response to the recent market downturn, but they should be consistent with the SMSF’s investment strategy.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.