Articles by Jason Spits

Retirement

Rate cut punishes self-funded retirees

interest rate retirees

The most recent interest rate cut will impact self-funded retirees through lower investment returns, while saddling them with a deeming rate that remains too high.

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FASEA

Submissions show FASEA conflicts push back

Recently released submissions to FASEA show concerns about conflicts of interest standards were presented to the authority more than a year ago.

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Documentation

New accounts time frames may spark document backdating

records time frame backdating

A Treasury proposal to impose a set time for the preparation of SMSF accounts may lead to funds backdating records to meet the deadline.

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Pensions

Pension reserve shifts still possible

Pension reserves SMSF account

Moving pension reserves into an SMSF member’s account is still possible as long as it is allocated correctly and the cost of switching is considered.

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Education, FASEA

Few veterans required to complete eight units

advisers eight unit course

The number of veteran advisers required to complete a full course of study to comply with new standards is low compared to the total adviser pool, according to FASEA.

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Retirement, Superannuation

Fintech tool to overcome early release effect

fintech early release tool

The effect of early release of superannuation on retirement income balances can be mapped according to a fintech firm which claims a new tool can also show how to offset that impact.

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Education, FASEA

Historical CPD doesn’t meet current standards

Historical CPD

FASEA has told a parliamentary committee historical CPD often falls short of new standards, which is why it has not been approved by the authority.

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Documentation

BDBN references to law incorrect

BDBN superannuation law

SMSF trust deeds that rely on super laws to direct death benefits are incorrect as those laws only apply to retail and industry funds, an SMSF expert has warned.

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Documentation

Digital signatures still not ideal for deeds

Digital signatures SMSF deeds

Making permanent changes to federal laws to allow electronically signed digital trust deeds will only assist SMSFs when all the states implement similar changes.

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Superannuation

Impersonal super misses target

impersonal superannuation

Single-solution superannuation offerings prevent fund members from finding the best contribution and investment mix for their retirement goals.

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