Articles by Jason Spits

Compliance, Documentation, Investments, SMSF

Strategy reviews require evidence

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, trustees, investment strategy, minute, BT, Bryan Ashenden, written resolution, SIS Regulations

While trustees may be used to documenting their fund’s investment strategy, any changes to it must also be formally recorded for compliance purposes.

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Property, Retirement

Reverse mortgages complex and confusing

retirees, reverse mortgage, features, Seniors First, Darren Moffatt, points of difference

Reverse mortgages vary across many key details, creating difficulties for retirees in selecting a provider and product.

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ECPI, Pensions, Regulation

Failed pension process not logical

The process to rectify a pension that has not made minimum payments is difficult and will require multiple steps to achieve.

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LRBA, SMSF, Strategy, Superannuation

Maintain LRBA single-asset treatment

Shares purchased under an LRBA should be treated as single asset regardless of what happens to them while they are held by an SMSF investor.

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Death benefits, Legislation

Time limits still apply to fund payments

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, ATO, death benefit, reasonable timeframe, Heffron, Lyn Formica, six-month rule, guidance, Sean Johnston, payment, sale of asset

The absence of a specific timeframe in ATO guidance to pay a death benefit does not mean trustees have unlimited time to do so.

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Compliance, LRBA, SMSF, Trusts

Avoid LRBA structure short cuts

A bare trust should be the first and only option in which to house an LRBA-purchased asset as lenders and lawyers will reject other structures.

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Compliance, financial advice, Financial Planning, Legislation, Regulation

Call to reform AFSL regime

The FSC has called for reform of the Australian financial services licensing system, which has not been changed in nearly 25 years.

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Compliance, Pensions, Regulation, SMSF, Superannuation

Failed pensions need minimums paid

Pensions linked to the breach of the payment standards cannot be commuted and restarted before this contravention has been rectified.

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Accounting, Legislation, SMSF, SMSFA

Early AML/CTF preparation urged

SMSF Association members have been encouraged to start preparing for anti-money laundering regime changes that will now capture accountants.

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SMSF, Technology

Tech will democratise sector

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, technology, artificial intelligence, AI, administration, SuperConcepts, Matthew Rowe, fund establishment, portfolio administration, integration

The greater use of technology will lower the barriers to entry to using an SMSF to the point they are a viable option for any superannuant.

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