Articles by Jason Spits

ATO, Tax

June 2019 creates contribution allocation trap

SMSF contributions for the 2019 financial year should be made as early as possible to avoid allocation errors that may result from a calendar oddity, according to a sector expert.

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Superannuation, Tax

Franking credits feature in first election debate

Tax refund, SMSF, franking credit,

The Prime Minister and opposition leader traded barbs over franking credits but neither gave ground on the issue during the first televised election debate.

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Retirement, Superannuation

Workers still not hitting self-funded benchmark

An annual survey has shown more people are heading into retirement without sufficient assets to be self-funded and will be forced to rely on government benefits.

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Superannuation, Tax

Balance limits a solution to franking credit issue

SMSF balances, franking credits, refunds, trustees

Limits on the size of SMSF balances, and grandfathered changes to franking credit refunds, would reduce high levels of refunds without hurting smaller trustees.

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LRBA, Superannuation

Retain LRBAs, but enforce existing legislation

Green tick in box labelled yes

Risks associated with LRBAs can be managed by the enforcement of existing legislation rather than banning them entirely for all investors, a specialist lender has claimed.

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Commercial Property, LRBA

LRBAs should be retained for commercial property

Cranes on top of unfinished buildings

LRBAs should be retained for commercial property investments, which have exhibited few of the issues associated with residential property, according to a specialist lender.

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Appointments, Superannuation

Ripoll joins SMSF Association board

Bernie Ripoll has joined the board of the SMSF Association stepping up from a previous role within the organisation.

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Retirement, Superannuation

Ongoing contributions best for closing super gender gap

Ongoing super contributions are the better way to close the super gender gap than increased savings later in life, according to new research.

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Superannuation, Tax

Franking credits the icing, not the whole cake

Pink Piggy bank money concept on dark blue background

Australian share market returns will remain strong without franking credit refunds, which should be considered as the “icing on the cake” of investing in local equities.

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Accounting, Tax

Accountants slam Shorten over deduction ‘rort’ remark

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Two accounting bodies have hit back at Bill Shorten for labelling deductions for managing tax affairs as a ‘rort’ and promising to limit them to $3000.

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