Articles by Jason Spits

Financial Planning

ASIC wins appeal in personal advice case

ASIC Westpac personal advice

The full Federal Court has ruled superannuation rollover advice provided by two Westpac subsidiaries was personal in nature and a breach of their licence and obligations under law.

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Superannuation

Super architect calls for hands-off approach

superannuation system confidence

A key player in the creation of the superannuation system has said it must be left alone to restore confidence and allow people to make long-term retirement decisions.

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ATO, Superannuation

ATO statistics endorsement of SMSF compliance

ATO SMSF compliance

The SMSF sector has recorded low rates of non-compliance and its performance has been endorsed by the ATO, an SMSF specialist has claimed.

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Superannuation, Tax

Don’t ignore death tax until death bed

SMSF death tax

SMSF advisers need to discuss the reality of death taxes when setting up a fund to avoid difficult conversations at time of a member’s death.

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Accounting, Superannuation

Look at SMSF life cycle for revenue boost

Accountants SMSF revenue

Accountants should examine the life cycle of an SMSF to find new areas of advice through which they can expand their services as well as their revenue.

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Appointments

SuperConcepts restructures after manager departure

SuperConcepts manager departure

SuperConcepts has combined two senior roles following the departure of its general manager for customer services to stablemate AMP Capital.

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ATO

ATO seeking deeper data on SMSF investments

ATO data SMSF investments

The ATO would like to collect more detailed data on the investments of SMSFs and may consider changes to the annual return to gather it.

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ATO, Pensions

TBAR hampered by lack of real-time data

real-time data transfer balance

The lack of real-time data from the ATO about the transfer balance account (TBA) is hampering the ability of SMSFs to manage pension transfers.

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Accounting, Investments

Treat investment strategies as product advice

investment strategy financial product

Accountants should treat investment strategies as financial products and be guarded in their advice about them to avoid legal missteps, an SMSF lawyer has claimed.

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Compliance, Financial Planning

Impact of code monitoring shift minor

code monitoring associations standards

Financial advice associations have brushed off suggestions a government run disciplinary body would reduce their role but questioned how the body will work.

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