Articles by Jason Spits

Retirement, Tax

Labor voters turn against franking credit plan

The opposition’s plans to ban franking credit refunds has been rejected by Labor voters who have indicated they will switch parties over the issue.

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ATO, Superannuation

SMSF establishment balances jump

SMSF establishment balances have increased says the ATO

More SMSFs are being established around the $500,000 mark, meeting the Productivity Commission’s suggested benchmark made earlier this year.

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Superannuation, Tax

Labor tax changes go beyond ‘wealthy’ retirees

Image of target to illustrate Labor party election policies aimed at retirees

Retirees incorrectly labelled as wealthy have been targeted to generate a third of Labor’s election policy costings.

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Regulation, Superannuation

Super policies result in unstable future

Super fund members are not being offered stability by either major political party despite past calls for more certainty in the sector.

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Accounting, Tax

Numbers for cap on tax advice based on wrong data set

tax advice

Calls to cap deductions for costs related to tax advice have been based on inaccurate and limited data.

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ASIC

ASIC revokes authorisations of ‘doubly registered’ licensees

Fifty eight licensees who were authorised with another licensee have fallen foul of ASIC which has revoked their authorisations.

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Administration, ATO

ATO updates guidance on fund error disclosure

The ATO has requested that funds making voluntary disclosures over errors disclose how they may have occurred, who was responsible and what had been done to tackle the problem.

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Financial Planning, Pensions

End-of-year pension planning too late

Advisers looking at pension planning for the current financial year may have left it too late and should shift it to the start of the new year.

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Financial Planning

No advice gap created by departure of ‘deadwood’

Exit sign for adviser leaving their jobs

An advice gap is unlikely to occur with the departure of some financial advisers as they were ‘non-productive’ already, a consulting firm has claimed.

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Strategy, Superannuation

Fund balance questions overlook pooling advantage

Small wooden figures illustrating a pool of people and fund balances in an SMSF

Concerns about member balances in SMSFs overlook the fact many funds are set up with multiple members boosting the fund balance, according to Class Super.

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