Articles by Jason Spits

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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LRBA

SMSF loans available, but heavily scrutinised

smsf loans

SMSFs are still able to find lenders willing to provide loans for a range of purposes, but borrowing arrangements are being closely examined by those offering the funds.

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ASIC

ASIC bans Sam Henderson for three-years

ASIC bans Sam Henderson

ASIC has banned former high profile Sydney financial adviser Sam Henderson for three years after he failed to act in the best interest of clients and provide them with appropriate advice.

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Superannuation

SMSF balances highlight need for TBC

SMSFs transfer balance cap

SMSFs drawing high levels of tax free income in the past have been held up by a superannuation body as a reason for the introduction of the transfer balance cap in 2017.

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