Articles by Jason Spits

BDBNs, Estate Planning

Ensure estate plans match BDBN intent

estate planning BDBN

The certainty about the operation of a BDBN means SMSF advisers should ensure related estate planning matches the intent of the nomination.

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Auditing

Auditors should question related-party status

auditors related party

Auditors should check if third parties linked to an SMSF are a related party, but funds can clarify this by mapping out these arrangements.

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financial advice

Former FPA, AFA leaders back merger

FPA AFA merger

Former chief executives and heads of the boards of the FPA and AFA have urged members to back the proposed merger of the two advice bodies.

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Auditing

Current lease a key audit document

current lease SMSF audit

SMSF trustees and auditors should be seeing a current lease arrangement each year where a related-party property holding is in the fund.

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Superannuation

Make quick changes for users’ benefit

super changes

Short-term changes to the superannuation system should aim to complete some unfinished initiatives, while driving end benefits to consumers.

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financial advice, Superannuation

Super complexity requires advice

superannuation complexity advice

The complex nature of superannuation means people need advice, but can’t easily access answers to simple questions.

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Retirement

Adopt retirement system objective

retirement system objective

The government should adopt an objective for the retirement system, including superannuation, and then review the tax payments operating within it.

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Contributions

SMSFA calls for simpler caps

SMSF Association TBC

The SMSF Association has pointed to indexation of the transfer balance cap as grounds to adopt the general cap for all fund members.

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Contributions

Recontribution notices must be on time

recontributions pensions

SMSF members planning to start new pensions using recontributions need to get the timing correct or risk undermining the strategy.

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NALI/NALE

NALE fix missing details

NALE model

The NALE model put forward by the government lacks important details and will be hard to implement at the trustee level.

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