Articles by Jason Spits

ATO, Compliance

Penalty regime for promoters updated

ATO Promoter penalty regime PSLA 2021/1 Illegal early access superannuation

The ATO will have more time and a wider brief to target those who promote schemes to gain illegal early access to superannuation.

read more
ASIC

Adviser jailed for 12 years over $6m fraud

ASIC Ben Jayaweera Growth Plus Financial Group SMSF fraud

A former adviser found guilty of multiple fraud charges has received a 12-year jail term for his actions, which included accessing SMSF monies without permission.

read more
ATO, Trusts

Class updates trust income reporting

Class Trust Tim Steele ATO MTAS Modernisation of Trust Administration Systems Trust Income Schedule SMSF Self-managed superannuation

Class has updated the trust income reporting capabilities in its software to bring it in line with new ATO standards that now apply.

read more
ETFs, Investments

BlackRock to offer US Treasury ETF

BlackRock Australia US treasury ETF ULTB James Waterworth Tamara Stats

Months after offering an Australian government bond ETF, Blackrock will also release a similar vehicle focused on US government bonds.

read more
SMSFA

New insurance partnership formed

SMSF Association BizCover Numerisk Partnership

The SMSF Association has joined with a broker and specialist insurance business to offer targeted cover to its members.

read more
ASIC, Superannuation

Super sector in ASIC’s sights

ASIC superannuation Corporate plan SMSF Establishment advice

The superannuation sector’s handling of retirement outcomes will be an area of focus for ASIC, which has also committed to review SMSF establishment advice.

read more
Compliance, Retirement, SMSF

Query reasons for trustee transactions

SMSF Self-managed superannuation Tim Miller SuperGuardian Smarter SMSF sole purpose test related party transaction

Questioning the motives of trustees will often reveal why they are undertaking a transaction and if it will pass the sole purpose test.

read more
Appointments, Business News

SMSF Association adds policy manager

SMSF Assocation Policy manager Keddie Waller Appointment

The SMSF Association has hired a new policy manager, who joins the body after more than a decade working with another industry organisation.

read more
Death benefits

View death benefits as ancillary purpose

SMSF Self-managed superannuation Smarter SMSF SuperGuardian Tim Miller Death benefits Sole purpose test

SMSF trustees should view the payment of death benefits as an ancillary purpose rather than a core purpose of the fund to ensure it remains compliant with the sole purpose test.

read more
Compliance, Superannuation

Incapacity definition has dual purpose

Incapacity Superannuation Industry Supervision Act Condition of release

SMSFs can use a single definition of permanent incapacity to meet a condition of release and gain a tax concession, but should document and retain that definition to avoid breaching super and tax laws.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.