Articles by Jason Spits

Investments, Strategy

Template strategies must be flexible

investment strategy template SMSF

Using template investment strategies to meet the ATO’s requirements may not be viable if they cannot be tailored to specific circumstances.

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ASIC, ESG

ASIC acts on Vanguard ESG screening concerns

ASIC Vanguard ESG

ASIC has started civil penalty proceedings against Vanguard Investments Australia, alleging the use of an ESG screen in a bond fund was misleading.

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financial advice, Financial Planning, Technology

Advisers adopt more tech as numbers shift

advisers technology

Advisers are adopting more technology as the number of their peers decline and their client bases continue to increase in size.

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Insurance

Make insurance decision more explicit

SMSF life insurance

SMSF practitioners should encourage trustees to make explicit decisions around life insurance, rather than just give it consideration, and then document those decisions.

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Education, SMSFA

Heffron offers SMSFA membership to students

SMSF education

Heffron will offer free membership of the SMSF Association to students who complete its course for those new to the sector.

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Auditing, NALI/NALE

NALE materiality still not clear

SMSF auditors NALE

SMSF auditors will be tasked with deciding when non-arm’s-length expenditure is reasonable despite the lack of certainty on the issue but may find a solution exists in current ATO guidance.

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Administration, Technology

SuperConcepts cuts staff numbers

SuperConcepts staff

SuperConcepts has made changes to its staff numbers in an effort to reduce the cost base of the business under its new ownership and management team.

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SMSF, Technology

Caution needed in adopting AI tools

SMSF AI ChatGPT

SMSF practitioners should recognise the limits and dangers of using AI tools and vet the information provided before making use of them.

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SuperStream

SuperStream still a mystery to clients

superstream

SMSF practitioners will still need to guide clients through the SuperStream process which remains new to them after more than 18 months of operation.

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NALI/NALE

NALE bill can’t fix broken model

NALE draft bill

The draft bill to alter the NALE provisions is building on a flawed model, creating more problems, with a collective of industry bodies unwilling to support it.

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