Articles by Jason Spits

Contributions, Tax

Contributions better value before tax cuts

superannuation contributions tax cuts

High-earning SMSF members should consider making voluntary contributions to their fund ahead of the stage three tax cuts, which will reduce their future value.

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ASIC, ATO, Auditing, Compliance

ATO refers record number of auditors to ASIC

ATO SMSF auditor ASIC

The number of referrals of auditors to ASIC by the ATO has climbed to its highest level in five years due to concerns about independence and evidence gathering.

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Administration

SuperConcepts takes on AET SMSF clients

SuperConcepts Equity Trustees administration services

SuperConcepts has struck the first partnership under its new owner, signing a deal to take on administration services from Equity Trustees’ SMSF clients.

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ASIC, Compliance, financial advice

More details needed on levy spending

ASIC adviser levy FAAA Sarah Abood

ASIC should provide the advice sector with further information on how it spends more than $55 million each year on enforcement work, given the recent increase in the adviser levy.

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Retirement

Cost of living climbs again

ASFA cost of living retirees

The cost of living for retirees has increased for the fifth consecutive quarter, rising to new record levels as the price of daily necessities remains high.

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Insurance, SMSF, Superannuation

SMSF-funded insurance may be illegal access

SMSF life insurance premium APRA fund

SMSFs paying for life insurance in an APRA-regulated fund may find the payments are considered to be illegal early access rather than premiums.

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Education, financial advice, Financial Planning, SMSFA

Specialisation can meet advice demand

SMSF Association specialist education financial advice

The SMSF Association has called for more advisers to consider specialist training to take advantage of the growth in the sector and the related demand for advice.

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ETFs, Investments, Technology

Global X unveils US top tech ETF

Global X NASDAQ N100 ETF

Global X has added to its suite of ETFs focused on the technology sector with a new fund covering the leading 100 stocks on the Nasdaq.

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Cryptocurrency, SMSF

Avoid sole purpose bias on crypto

SMSF cryptocurrency sole purpose auditor

SMSF auditors are prone to negatively apply the sole purpose test to cryptocurrency investments, but doing so may be inconsistent with superannuation rules.

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ASIC, Compliance

ASIC acts over super fee concerns

ASIC David Valvo

ASIC has frozen the assets and restricted the travel of a former adviser and comedian in regards to concerns over superannuation fees charged to clients.

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