Articles by Jason Spits

SuperConcepts reports ongoing outflows

April 23, 2020

SuperConcepts has reported an ongoing decline in assets under management in the first quarter of 2020, continuing a trend seen across 2019.

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ATO, Documentation

ATO defers SAR lodgement date

April 22, 2020

Jason Spits

The lodgement date for SMSF annual returns has been automatically pushed out to 30 June for all funds in the latest COVID-19 relief measure from the ATO.

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Pensions

SMSFs must consider all super for ECPI

April 21, 2020

Jason Spits

SMSFs should be considering their total superannuation holdings when calculating exempt current pension income to avoid using the wrong method.

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Documentation

DBA rolls out no-witness BDBN

April 20, 2020

Jason Spits

SMSF trustees will be able to execute a BDBN without the presence of witnesses under a new offering from an SMSF legal firm.

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Financial Planning

Pandemic driving interest in advice

April 20, 2020

Jason Spits

The interest in financial advice from new clients has spiked in recent weeks, alongside growing concerns from advisers about their own long-term survival.

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Superannuation

SMSFs face COVID-19 relief raids

April 16, 2020

Jason Spits

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.

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Business News, Financial Planning

AFCA extends dispute timeframes

April 16, 2020

Jason Spits

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.

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Documentation

SMSF documents likely to fail legal test

April 15, 2020

Jason Spits

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.

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ATO, Superannuation

In-house asset relief has limits

April 14, 2020

Jason Spits

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.

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Property, Superannuation

Rent relief still unclear for 13.22c trusts

April 9, 2020

Jason Spits

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.

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