Articles by Jason Spits

SMSF documents likely to fail legal test

April 15, 2020

Many SMSF documents are likely to fail future legal challenges and advisers should consider the source of the documents they use, according to an SMSF legal expert.

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ATO, Superannuation

In-house asset relief has limits

April 14, 2020

Jason Spits

Trustees looking to correct an in-house asset breach from 2019 should take whatever action necessary to rectify it as the ATO will still be taking a look at any issues in that area.

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Property, Superannuation

Rent relief still unclear for 13.22c trusts

April 9, 2020

Jason Spits

SMSFs holding property via 13.22c unit trusts should hold off on providing rent relief until confirmation has been provided the measures will extend to these arrangements.

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LRBA, Superannuation

LRBA guarantees may trap the unwary

April 8, 2020

Jason Spits

SMSF members with personal guarantees for an LRBA should be aware any COVID-19-driven payments may be considered as contributions unless properly recouped from the fund, according to a legal expert.

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Education, FASEA

One quarter of all advisers pass FASEA exam

April 7, 2020

Jason Spits

The latest FASEA exam results show a further 1800 advisers have passed, increasing the total number to more 25 per cent of all advisers.

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Investments

Downturn not deterring investors yet

April 7, 2020

Jason Spits

Retail investors have chosen to ride out the recent market downturn, but remain less than optimistic about long-term growth and government debt.

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Superannuation

Bankruptcy preferable to illegal early release

April 6, 2020

Jason Spits

Trustees looking to raid their SMSFs to prop up a small business would be better off facing bankruptcy than the consequences of illegal early release, according to a legal expert.

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Investments

Asset allocations must stay true to fund strategy

April 2, 2020

Jason Spits

Trustees can make changes to their investments in response to the recent market downturn, but they should be consistent with the SMSF’s investment strategy.

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Documentation

Print trust deed until all states go electronic

April 2, 2020

Jason Spits

NSW has moved ahead of other states and territories with electronic trust deeds, but trustees should still opt for paper until the move is universal.

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Documentation

Choose wisely to avoid document subpoenas

April 1, 2020

Jason Spits

Being able to prevent legal access to documents is a value-add lacking in some document providers and cannot be offset by lower cost, according to a legal firm.

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