Articles by Jason Spits

ECPI

Don’t overlook tax in ECPI timing

SMSF members making a contribution late in the year to maximise exempt current pension income (ECPI) should be advised that an earlier move may be a better option when considering their tax position outside of the fund, an SMSF actuary has highlighted.

Making a contribution late in the year to maximise ECPI may not be the best strategy when an SMSF member takes a tax hit while waiting to contribute those funds.

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Compliance, SMSF, Trusts

Multi-fund trustees are dangerous

SMSF corporate trustee, compliance failures, Heffron, Sean Johnston, multiple funds, SIS Act, sole purpose trustee, Annie Dawson, ATO

While SMSF trustees have been warned not to use any company structure for a corporate trustee, that caution also should extend to how many funds are covered by a single trustee vehicle.

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Pensions, Tax

Consider tax in indexation planning

Pension, transfer balance cap, indexation, SMSF, capital gains tax, Smarter SMSF, Tim Miller, pension commencement, SuperGuardian, exempt current pension income, ECPI, disregarded small fund assets, CGT, capital gains tax

Waiting for the indexation of the general transfer balance cap in July to start a pension may not be suitable for SMSF members staring down a large tax bill before the end of the financial year.

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Documentation, Property

 Class adds title search functionality

Class has added the ability for SMSF practitioners to search for property titles and valuations after expanding the number of data feeds coming into its platform.

Class has added the ability for SMSF practitioners to search for property titles and valuations after expanding the number of data feeds coming into its platform.

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Education, LRBA, SMSF, Superannuation

LRBA rate gap a driver for change

The growing gap between the safe harbour interest rate for an LRBA and those on offer from commercial lenders may push some SMSFs to seek new borrowing arrangements.

The growing gap between the safe harbour interest rates for an LRBA and those on offer from commercial lenders may push some SMSFs to seek new borrowing arrangements.

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ASIC, Investments, SMSF

ASIC seeks closure of rollover scheme

ASIC has sought court orders to wind up a managed investment scheme that used cold calling and superannuation rollovers to get clients to invest.

ASIC has sought court orders to wind up a managed investment scheme that used cold calling and superannuation rollovers to get clients to invest.

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financial advice, Trusts

Reconsider wholesale client status

SMSF advisers should view all trustee clients as retail until they can show they have the assets to meet the upper limits of the wholesale investor test.

SMSF advisers should view all trustee clients as retail until they can show they have the assets to meet the upper limits of the wholesale investor test.

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ART, ATO, Pensions, Tax

ART ruling may clash with TR 2013/5

Administrative Review Tribunal, ART, TR 2013/5, superannuation pension, Tax Ruling 2013/5, Sladen, Phil Broderick, Philippa Briglia, QWYN and Commissioner of Taxation, superannuation income stream

The Administrative Review Tribunal has adopted a wide view on what may be considered a superannuation pension, potentially creating a conflict with Taxation Ruling 2013/5.

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Education, SMSF, Superannuation, TPB

Tax advice deadline shouldn’t be ignored

Financial Advice Association Australia, FAAA, Tax Practitioners Board, TPB, FAAA Roadshow 2025, Phil Anderson,

Financial advisers should acknowledge the year end deadline for education requirements runs concurrently with one governing tax advice.

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Business News, financial advice

IFPA strikes alliance with AIOFP

Two bodies representing advice practitioners have announced an alliance with plans to share ongoing education and lobbying efforts.

Two bodies representing advice practitioners have announced an alliance with plans to share ongoing education and lobbying efforts.

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