Articles by Jason Spits

Contributions, financial advice, Financial Planning, SMSF, Strategy, Superannuation, Tax

Reserving can’t sidestep Division 293

Combined superannuation contribution strategies will not create a method where SMSF members can avoid paying Division 293 tax.

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Administration, Compliance, SMSF, SuperStream

Doubt cast on Div 296 start date

The lack of action by large super funds to prepare for the Division 296 impost makes it likely it will not be applied this financial year.

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Division 296, Legislation, Regulation, Superannuation

Div 296 clause may extend tax reach

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Division 296, parliamentary approval, Section 296-60, regulations, withdrawals, contributions, regulation, authority of parliament

An insertion into tax law as part of the proposed Division 296 measure may give the government a mechanism to extend its reach by regulation.

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Administration, Compliance, Regulation, Valuations

Pre-audit meeting can smooth review

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, asset valuations, Vincents, Mailene Wheeler, unlisted trusts, unlisted companies, SMSF auditor, financial statements, pre-audit discussion

A pre-audit discussion with clients about hard-to-value assets can reduce the need for the auditor to question an SMSF’s financial statements.

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Education

SuperConcepts strikes ASA partnership

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, SuperConcepts, Australian Shareholders’ Association, education, Matthew Rowe, Rachel Waterhouse

SuperConcepts will offer SMSF education to members of Australia’s largest shareholder group.

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financial advice, Financial Planning, Retirement, SMSF, Strategy

Intent key to recontribution strategy

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, recontribution strategy, tax avoidance, Institute of Financial Professionals Australia, IFPA, Stuart Sheary, Part IVA, tax benefit

A withdrawal and recontribution strategy will be judged on the intent of the action as to whether the Part IVA provisions of the tax act apply to it.

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SMSF, Superannuation

SMSFs best for member satisfaction

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, member satisfaction, Roy Morgan, public sector, industry fund, retail funds, Roy Morgan Single Source survey, Michele Levine

As super fund members report high levels of satisfaction with their fund, SMSFs continue to lead the field of retirement savings vehicles.

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financial advice, Financial Planning

Capacity limited but revenue climbs

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Investment Trends, SMSF advisers, advice capacity, revenue, clients served, Yiğit Günhan, SMSF specialists, practice revenue, financial advice

Advisers are indicating they have limited capacity to take on new SMSF clients but also admitted this cohort is a key source of revenue for them.

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Division 296, SMSF, Tax

Div 296 asset values can be reduced

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, Division 296, asset values, super balance, Institute of Financial Professionals Australia, IFPA, Natasha Panagis, termination value, total super balance, $3 million threshold, The Super Playbook 2025, property

Assets in an SMSF can be reported at a lower value for Division 296 purposes through using an alternative super balance figure.

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Auditing

Highlight risks to avoid audit advice

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, auditor, risky assets, evidence, reasoning, The Super Playbook 2025, ARC Super, Ashley Course, investment strategy

Auditors can flag the presence of risky assets in an SMSF by highlighting the absence of evidence or reasoning for their presence in a fund.

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