Articles by Jason Spits

financial advice, Investments

Wholesale investor threshold must be lifted

Net asset threshold Wholesale investor test Sophisticated investor Gross income test SMSF

The FSC has called for the doubling of the wholesale investor threshold, noting it now covers many people who sit outside that definition.

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Administration, financial advice, SMSF

Incapacity too big to ignore

SMSF Incapacity Trust deed

The growing cohort of older SMSF trustees and members means advisers and auditors should be preparing to deal with more issues related to incapacity.

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ETFs, Investments

Betashares expands Nasdaq ETF offering

Betashares ETFs Nasdaq 100

Betashares will add two new funds with exposure to the Nasdaq to its range of ETFs, bringing its total number of offerings on the ASX to 90.

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ATO, SMSF, Superannuation

Sector shows solid long-term growth

ATO SMSF sector data Growth Establishments wind-ups assets

The latest annual data from the ATO has confirmed the ongoing steady growth of the SMSF sector, which now accounts for a quarter of all superannuation assets.

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ASIC, Compliance, SMSF

SMSF investment firm to be wound up

SMSF investment firm Brite Advisors ASIC Federal court wind-up

The Federal Court has ordered the winding up of an investment firm offering services to SMSF and pension scheme members in four countries amid concerns over missing assets.

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Compliance, Documentation

EPOA role is more than a proxy

SMSF trustee SMSF director EPOA enduring power of attorney The Auditors Institute Graeme Colley Superannuation Industry (Supervision) Act

The role of a person acting under an enduring power of attorney for an incapacitated trustee can be misunderstood, with many seeing them acting as a proxy, which runs counter to the law.

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ASIC

Alleged SMSF scammers face court

ASIC SMSF scam fraud proceeds of crime

Two Victorian men have been charged with fraud and dealing with the proceeds of crime after an ASIC investigation into an alleged SMSF scam.

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ATO, Contributions, SMSFA, Superannuation, Tax

Contribution deduction process can be fixed

Tax deduction Notice of intent Contributions SMSF Association SMSF

The process to lodge a notice of intent to claim a tax deduction on personal superannuation contributions can be streamlined, with industry bodies calling for change.

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Retirement

Retirement assumptions may be wrong

Retirement income Challenger Capital Preferences Superannuation annuity

A new study has found retirement income choices and preparedness are highly individualised and government modelling of cohorts may lead to inaccurate outcomes.

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ATO, Legislation, Regulation, SMSFA

SIS changes raise oversight concerns

SMSF Association ATO Oversight Regulations SIS Act

The SMSF Association has questioned the long-term outcomes of proposed changes to the fund registration process that move oversight from superannuation legislation to regulations.

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