Articles by Jason Spits

ASIC

ASIC action over false promotion

ASIC action SMSF promotion

The Australian Securities and Investments Commission has taken legal action against two firms over the promotion of SMSFs to invest in property, challenging claims around returns and the legality of the advice.

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Business News

Technical manager achieves milestone

Heffron Leigh Mansell

Heffron has recognised the 20th anniversary of the recruitment of one of its key personnel noting she has become a significant force in the SMSF industry.

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Strategy, Succession Planning

Trust structures key to succession planning

SMSF succession planning

The correct wording of a corporate trustee constitution for SMSFs is essential to compensate for gaps in legislation around the succession of a trustee director.

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Education, FASEA

Another 1000 advisers sit FASEA exam

FASEA exam

The last FASEA exam for 2020 has resulted in a pass rate of about 75 per cent, a figure below the average across all exams.

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ASIC

La Trobe rejects ASIC advertising action

La Trobe ASIC action

ASIC has commenced court action regarding advertising by La Trobe Financial Asset Management, with the manager rejecting allegations it was misleading.

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Education, FASEA

FASEA awards credits for designation study

FASEA credits

Study towards a professional designation from four industry associations has been recognised by FASEA and will receive credit for prior learning.

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Accounting, Auditing

Auditor links with accountants must be clean

Auditors ex-employee accountants

Auditors using former employees to complete financial statements for SMSF clients will fall foul of independence standards.

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Documentation

Incorrect resignations can void fund decisions

SMSF resignation

Trustee or directors may still be tied to an SMSF if their resignation is not carried out correctly, voiding all future actions of the fund.

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Documentation

Accounts deadline dropped

SMSF accounts deadline

A controversial proposal to force SMSFs to finalise accounts weeks before their lodgement has been abandoned by Treasury.

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Appointments, Business News

SuperConcepts head announces departure

SuperConcepts Lara Bourguignon

The head of SuperConcepts will leave before Christmas to take on a consulting role in the new year.

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