Articles by Jason Spits

Set model no BDBN tension fix

March 16, 2020

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

March 12, 2020

Jason Spits

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

March 11, 2020

Jason Spits

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

March 11, 2020

Jason Spits

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

March 10, 2020

Jason Spits

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

March 9, 2020

Jason Spits

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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Insurance, Superannuation

Member death can benefit SMSF tax position

March 5, 2020

Jason Spits

A new private binding ruling has shown SMSFs can make tax deductions off the back of insurance premiums paid on behalf of a deceased member.

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Strategy

Plan for end of SMSF at its start

March 4, 2020

Jason Spits

SMSF advisers should consider how an SMSF will be wound up at the time of its establishment and hold those discussions with clients to avoid any future difficulties.

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Superannuation, Tax