Articles by Jason Spits

Pensions, Superannuation

SMSFA seeks drawdown cut

pension drawdown

The SMSF Association has asked the government to reduce minimum drawdown amounts from superannuation in response to COVID-19’s impact on financial markets.

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Accounting

LRBA and property development not a good mix

LRBA property development

A close reading of recent ATO comments about property development within an SMSF using an LRBA indicates it should be avoided at all costs.

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Estate Planning, Superannuation

Legal disputes point back to paperwork

legal disputes superannuation documentation

Legal disputes around superannuation in a deceased estate have centred on the quality of the documentation, forcing advisers to pay attention to the mistakes that were made.

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Retirement, Strategy

TRIS strategy still has role to play

TRIS strategy

Changes to the tax treatment of transition-to-retirement income streams have not diminished their usefulness for some pre-retirement clients.

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Estate Planning, Pensions

Set model no BDBN tension fix

BDBN priority

A prescribed model on how to deal with binding death benefit nominations and reversionary pensions was unlikely due to a lack of agreement on their operation inside an SMSF.

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Estate Planning

Dual funds can prevent estate tensions

super estate planning

Dual superannuation funds can be used to separate assets in a blended family and to ensure benefits go where they are intended, an SMSF specialist has suggested.

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ATO, Compliance

ATO data lifts need for warnings

ATO investment strategy compliance

New ATO data-checking abilities mean trustees need to comply with investment guidelines and advisers should be promoting this compliance.

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Business News

Heffron recruits Cavendish founder

Heffron Cavendish

A long-serving and senior figure in the SMSF sector has taken on a new expansion-focused role with Heffron.

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ASIC, Superannuation

Early-release promoter banned

early release superannuation

A banned financial adviser has received a further penalty from ASIC for his part in a scheme that promoted the illegal early release of super via SMSFs.

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Retirement, Superannuation

Work test definition not decided by clients

Work test definition

Advisers abusing the definition of gainful employment under work test rules for their clients’ benefit will find themselves outside the law, according to an SMSF advice specialist.

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