Articles by Jason Spits

Education, FASEA

Majority of advisers pass FASEA exam

FASEA advisers exam

A large majority of advisers who sat the first FASEA exam have been notified they have passed as increasing numbers sign up for the next two rounds of exams.

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Strategy, Superannuation

Restrictions on 13.22c trusts may trigger blow-up

Restrictions on 13.22c trusts

Tight restrictions around the use of 13.22c trusts should be a warning to SMSF trustees to approach them with caution or risk facing a complete unwinding of any related arrangements.

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Accounting, Financial Planning

Accountants not solution for financial advice gap

accountants financial advice gap

Accountants are unlikely to complete further education to step into the financial advice sector as its revenues decline and practitioners leave.

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Retirement

AMP upgrades platform retirement tool

AMP upgrades retirement tool

AMP has upgraded its Retirement Modelling Tool adding hundreds of combinations of investments and 2000 stressed tested retirement strategies.

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Accounting, Tax

Treasury puts accountants’ exemption back on table

Treasury accountants exemption

A Treasury discussion paper has flagged allowing accountants to provide basic SMSF advice without being licensed and moving financial planners from under the tax licensing regime.

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ASIC, Financial Planning

ASIC bans SMSF adviser for dishonest loans

ASIC bans SMSF adviser

A former Victorian SMSF adviser has been banned by ASIC after it found he had borrowed money from clients’ accounts and had breached a range of financial services laws.

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Estate Planning, Succession Planning

SMSF succession plan hangs on correct reading of deed

SMSF succession plan deed

SMSF succession plans need to start with an examination of the deed, as well as later changes, to ensure the plan can be made operative in the future, an SMSF expert has advised.

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Accounting, Superannuation

SMSF sector leads in growth, assets

SMSF sector growth assets

A new report into the financial services industry has highlighted the strong growth of the SMSF sector, which continues to hold a dominant place within superannuation.

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Education, FASEA

FASEA boosts exam locations, first results to come

FASEA adviser exam results

FASEA has released the dates and locations for the next two rounds of its mandatory adviser exam, including new regional locations, but will take another two weeks before it releases results from the first round of exams.

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Pensions, Tax

Pension can retain entitlements even when member dies

pension earnings entitlements

Non-reversionary income streams paid out through pensions can retain earnings entitlements and tax exemptions even when a member dies before payout.

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