Articles by Jason Spits

Superannuation

Govt to pay super on paid parental leave

paid parental leave superannuation

Parents who take time off work to look after children will have superannuation payments added to government fund leave entitlements from mid-2025.

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financial advice

Advice seen as valuable but costly

Financial advice Cost Investment Trends Irene Guiamatsia

Consumers regard financial advice as useful, but many still baulk at the cost, seeing it as too high for their needs.

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ATO, Pensions, Tax

Court rejects pension exclusion from TBC

Federal Court defined benefit lifetime pensions excess transfer balance transfer balance cap Stern Commissioner of Taxation

The recipient of two defined benefit pensions has lost a court case to have them excluded from the calculation of his excess transfer balance, failing to prove they were not covered by tax laws.

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SMSF, Superannuation

SMSFs continue to lead in member satisfaction

Roy Morgan Superannuation Satisfaction Report SMSFs Performance

Research by Roy Morgan has found SMSFs continue to lead the superannuation sector for member satisfaction, with levels at a two-year high.

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Auditing, Legislation, SMSF

SMSF loans and debts not the same

SMSF Loan Debt Borrowing audit The Auditors Institute Chris Ketsakidis Ketsa Coleman

There is a difference between a loan and a debt within an SMSF and different rules apply to them, requiring good documentation at the time of audit.

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ASIC, Property, SMSF

SMSF firm received conflicted remuneration

SMSF Real estate conflicted remuneration RM Capital The SMSF Club ASIC Federal Court

A court has found a Queensland-based SMSF advice business received conflicted remuneration when advising clients to purchase property.

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Superannuation

Super objective supported by public

objective of superannuation support FSC

There is general public support for the proposed objective of superannuation, which is currently before parliament.

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Legislation, SMSFA, Tax

Senate Div 296 report pushed back

Division 296 tax Senate Economics Legislation Committee SMSF Association

A Senate committee report examining the proposed Division 296 tax will now come out in May after being pushed back by three weeks.

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Insurance, Tax

Examine TPD policy to reduce tax impact

SMSF TPD total and permanent disability insurance tax deductibility non-concessional contribution

The type of TPD cover an SMSF trustee holds and how they choose to claim on it can have significant tax implications if not managed correctly.

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Accounting

Check declarations in older trust deeds

SMSF Trust deed Trustee declaration Accurium SIS Act SIS Regulations

Older SMSF trust deeds may not contain a declaration that the trustees will comply with their legal obligations and this should be revisited, especially where changes have taken place in that document.

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