Articles by Jason Spits

Property, Superannuation

Property projects ripe for SMSFs

Property development SMSFs

The contraction of the property market and reduction in capital have created opportunities for SMSFs to become involved in property development following the recent guidelines released by the ATO.

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Documentation

Poor docs create client minefield

SMSF documents

SMSF advisers should be working to eliminate out-of-date documents that are held by trustees to prevent strife when a death benefit must be paid.

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Property, Tax

Related-party rent relief has NALI catch

rent relief NALI

SMSF trustees not offering rent relief need to consider if that move may trigger NALI when dealing with related parties.

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Documentation, Superannuation

Marsella appeal shows legal focus is on process

Marsella appeal

A recent unsuccessful appeal relating to an SMSF death benefit payment has demonstrated courts will focus on trustee obligations first rather than underlying perceptions of fairness.

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Superannuation

Early access impact overstated

early access impact

The impact of a $10,000 early access benefit on superannuation balances has been overestimated, with new modelling suggesting the decrease would be marginal.

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Financial Planning, Superannuation

New ROAs put onus on clients

early access advice

Template record of advice (ROA) documents released by five professional bodies have made it clear early access advice will be limited and at the request of consumers.

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Pensions

Care needed on asset sale from income stream

income stream asset

Trustees selling an asset segregated to a retirement income stream should document that strategy in advance to avoid ATO scrutiny over any capital gains.

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Investments

Trustees slow to adopt managed accounts

SMSF managed accounts

SMSFs have been slow to adopt managed accounts as part of their investment holdings despite solid growth in their use outside superannuation and among financial advisers.

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Pensions

Fintech firm aiming for better pension models

Fintech pension balances

SMSF members will be able to better predict their future pension balances via a new series of apps under development by a retirement-focused fintech firm.

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Practice Management

WealthO2 adds digital meeting facility

online meeting

WealthO2 has incorporated online meeting tools into its platform with users also planning to use it after COVID-19 lockdown.

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