Articles by Jason Spits

Death benefits, financial advice, Financial Planning, SMSF

Cheap benefit strategies likely to fail

SMSF practitioners who cut corners to save clients time or money may find that strategy fails when disputes arise around benefits.

SMSF practitioners who cut corners to save clients time or money may find that strategy fails when disputes arise around benefits.

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Retirement

Longevity risk solution highlighted

Ways to avoid longevity risk-related issues have been mapped out by Accurium in conjunction with a retirement income product provider.

Ways to avoid longevity risk-related issues have been mapped out by Accurium in conjunction with a retirement income product provider.

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Pensions, Trusts

Automatic pension restart unworkable

Automatically commuting and restarting pensions via a trust deed rule is unlikely to be a valid way to address minimum payment failures.

Automatically commuting and restarting pensions via a trust deed rule is unlikely to be a valid way to address minimum payment failures.

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ATO, Compliance, Regulation, SMSFA

Audit of ATO oversight welcomed

A proposed audit of the ATO’s regulation of SMSFs, the first in nearly 20 years, has been welcomed by the SMSF Association.

A proposed audit of the ATO’s regulation of SMSFs, the first in nearly 20 years, has been welcomed by the SMSF Association.

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Accounting, ASIC, financial advice, Financial Planning

Accountant banned for unlicensed advice

ASIC has banned an accountant after it found he provided unlicensed advice about setting up SMSFs and rolling funds into them.

ASIC has banned an accountant after it found he provided unlicensed advice about setting up SMSFs and rolling funds into them.

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Pensions, Trusts

Agreement can’t redirect income stream

SMSF trustees are not bound by good faith agreements to make pension payments and must primarily follow the rules of a fund deed.

SMSF trustees are not bound by good faith agreements to make pension payments and must primarily follow the rules of a fund deed.

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NALI/NALE, Property

Business real property NALI danger

The use of business real property and the rent received from it will come under greater scrutiny as the ATO ramps up its NALI compliance activities.

The use of business real property and the rent received from it will come under greater scrutiny as the ATO ramps up its NALI compliance activities.

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ATO, Downsizer, Superannuation

Downsizer contributions remain steady

The number and size of downsizer contributions into superannuation have remained constant, but more women are taking advantage of the scheme.

The number and size of downsizer contributions into superannuation have remained constant, but more women are taking advantage of the scheme.

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Appointments, Auditing

Banton to leave ASF Audits

One of the leading figures in the SMSF audit space will transition into a consultancy role from the end of this month.

One of the leading figures in the SMSF audit space will transition into a consultancy role from the end of this month.

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Division 296, SMSF, Tax

Accountants reissue call for new tax changes

The IPA has called for revisions to the proposed Division 296 tax that allow for the calculation of earnings on realised gains on an individual-member basis.

The IPA has called for revisions to the proposed Division 296 tax that allow for the calculation of earnings on realised gains on an individual-member basis.

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