Articles by Jason Spits

ATO, Retirement, Tax

ATO seeks help on tax avoidance

ATO retirement schemes tax

The ATO has flagged a number of retirement planning schemes that may be involved in tax avoidance and has asked trustees and advisers to report their promotion.

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Retirement, Superannuation

SMSF Party renews calls for supporters

SMSF Party Grant Abbott

The SMSF Party has called for supporters to formally sign up so its registration can proceed within the next few weeks.

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ATO, Property

Fractional investments okay post Aussiegolfa

ATO fractional investments SMSF

The ATO will consider the use of fractional property investments inside SMSFs, but will require providers to seek its approval first.

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Superannuation, Tax

Review should examine super tax concessions

retirement tax concessions superannuation

The retirement income review should consider if tax concessions for superannuation are ultimately being used to fund housing in retirement.

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Compliance, FASEA

ASIC grants compliance scheme exemption

ASIC exemption compliance scheme

ASIC will not penalise advice licensees for failing to sign their representatives to a compliance scheme following the government’s decision to keep ethics enforcement inhouse.

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Appointments

SMSF legal firm recruits advice expert

Townsends SMSF expert

Townsends Lawyers has added an SMSF expert to its team, providing advice to staff and clients within the legal firm and its affiliate, SuperCentral.

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ATO, Superannuation

NALE may be proving ground for legal challenges

SMSF trustees need to take into account certain legislative and regulatory changes that will come into effect from 1 July 2021.

The recent focus on non-arm’s-length expenditure (NALE) by regulators may be a move to prevent any legal challenges in that area if the matter is brought to court.

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Accounting, Compliance

Accountants influence poor trustee compliance

Accountants SMSF trustees compliance

Accountants should not sympathise with the views of SMSF trustees who do not value good compliance, an SMSF lawyer says.

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Auditing

Evolv upgrades licensed audit platform

Evolv Super audit platform

SMSF audit firm Evolv Super has made key upgrades to its audit platform that focus on risk reduction and efficiency.

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FASEA, Financial Planning

Code of ethics will rewrite law, reduce income

FASEA code ethics AFA

The AFA has labelled the FASEA code of ethics as unworkable, claiming it will rewrite financial services law and adversely impact on adviser revenue.

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