Articles by Jason Spits

Documentation, Superannuation

Ordinary company not for corporate trustees

ordinary companies corporate trustees

Corporate trustees should only be using special purpose company structures and failing to do so may be considered a breach of superannuation regulations.

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ASIC

ASIC bans adviser for five years

SMSF adviser banned

A Perth-based adviser has been banned for five years after not giving consideration to the best interests of clients when setting up SMSFs.

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Regulation, Superannuation

AML rules may exacerbate SFLU problems

AML SFLU SMSFs

SMSFs removed from the Super Fund Lookup (SFLU) may be caught under anti-money laundering (AML) laws impacting the flow of money in and out of the fund.

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ATO, Superannuation

SMSF collectables under scrutiny

ATO SMSFs collectables

The ATO will use its data matching powers to check if SMSFs are using high value assets for personal use in breach of the law.

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ATO, Tax

Excess transfer balance cap excuses rejected

excess transfer balance tax

Trustees have yet to find an acceptable reason to avoid excess transfer balance tax with recent cases proving the onus lay with them to get it right.

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Direct Property, Residential Property

SMSF demand drives fragmented property model

SMSF fragmented property

Demand for property investments from SMSFs will create new models to provide access to investments for trustees without large fund balances.

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Administration, Compliance

Offshore control of SMSFs possible, but limited

SMSF overseas control

SMSF trustees can exercise control over their funds while overseas, but recent ATO rulings have emphasised the need for major decisions to take place in Australia.

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ATO, Superannuation, Tax

Trustees unaware of ENCC repayment options

trustees excess contribution

Trustees may be unaware they could pay too much to the ATO when responding to excess non-concessional contribution determinations and need to review the options presented to them.

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Administration, Compliance

Past offences a barrier to trustee role

SMSF trustee eligibility

Potential SMSF trustees should be encouraged to disclose any past dishonesty offences to avoid committing a further offence if they take on the role.

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ETFs

BetaShares unveils new diversified ETFs

betashares diversified ETFs

Betashares has launched a new range of low-cost, multi-asset diversified ETFs on the ASX.

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