Articles by Jason Spits

Exam pass rate improves

December 12, 2022

The number of advisers passing the ASIC exam, which no longer includes existing advisers, has increased to its highest point in a year.

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ASIC, Superannuation

ASIC guidance drops balance figures

December 8, 2022

Jason Spits

New ASIC guidance for the provision of SMSF advice has dropped references to specific minimum balances, noting it was not the driving factor of suitability.

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Superannuation, Tax

Balance caps are retrospective fix

December 8, 2022

Jason Spits

The introduction of a cap on superannuation balances would only be trying to prevent events that have happened and will never be repeated.

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Compliance, Documentation

Assets without a market raise questions

December 7, 2022

Jason Spits

The ATO has indicated assets without a ready market may not be suitable investments for SMSFs, particularly if they cannot produce growth or income.

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ETFs

Global X unveils uranium ETF

December 7, 2022

Jason Spits

Global X ETFs Australia has launched a new fund focused on the mining and processing of uranium for use in nuclear power plants.

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Downsizer

Don’t waste downsizer ‘last resort’

December 6, 2022

Jason Spits

Downsizer contributions are a last resort move to get large sums into superannuation so trustees should consider waiting rather than acting on pending changes.

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ETFs

VanEck launches gold ETF

December 6, 2022

Jason Spits

VanEck has released a gold ETF backed by physical bullion sourced only from Australian producers and securely stored by The Perth Mint.

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Regulation

ABN rules may lock out late lodgers

December 5, 2022

Jason Spits

Proposed changes to the Australian business number (ABN) system may lock late-lodging trustees out of their funds until they submit required information.

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ASIC, Auditing