Articles by Jason Spits

ATO, Auditing

ATO to ramp up SAN misuse scrutiny

ATO SAN misuse

The ATO will review the use of SANs each year after finding a high number of possible breaches by hundreds of tax agents.

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Estate Planning

Topdocs upgrades estate planning capability

Topdocs estate planning

Topdocs has improved the range and content of its estate planning documentation and partnered with a legal service to connect advisers with legal firms.

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Compliance, Investments

LEI deadline closes at end of the month

LEI SMSF trustees

A legal entity identifier will need to be obtained by SMSF trustees wanting to invest in offerings such as contracts for difference after 30 September this year.

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Appointments

SuperGuardian names new education manager

SuperGuardian education manager

SMSF administrator SuperGuardian has appointed a well-known sector educator and consultant to a new education role.

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Administration, Business News

SuperConcepts opens new SA office

SuperConcepts Adelaide office

SuperConcepts will expand its presence in South Australia after opening a new office, with plans to increase the operational staff based in the location.

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Residential Property

Residential property can be transferred to an SMSF

SMSF residential property

Residential property may be held in an SMSF if it is being used as part of a business, but trustees need to tread carefully when implementing such a strategy.

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ATO, Investments

SMSFs receive ATO letters querying investment strategy

SMSFs ATO letters investment

SMSFs have begun to receive letters from the ATO seeking clarification over their investment strategy and also flagging penalties for any lack of action on the issue.

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Superannuation

Adding child member also requires new adult trustee

child member SMSF

An SMSF can add a person under 18 as a member, but doing so will require the addition of a further adult trustee to oversee them.

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Financial Planning, Superannuation

Advisers still unclear on SMSF set-up

SMSF personal advice

Advisers are still uncertain as to what is considered advice when setting up a fund for a client, with trustee structures being a trap for the unaware.

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Education, FASEA

SMSF Association welcomes FASEA extension

SMSF Association FASEA extension

The provision of extra time to complete new education requirements will reduce disruption for advisers and provide more time to adjust to the changes, according to the SMSF Association.

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