Articles by Jason Spits

ATO, NALI/NALE, Tax

ATO releases draft NALI, CGT determination

NALI CGT determination

The ATO has released a draft determination on how it will measure NALI inside capital gains that result from non-arm’s-length dealings.

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Pensions, SMSF, Superannuation

Injury settlements no threat to caps

Personal injury settlement

SMSF members receiving a personal injury settlement payment should not be concerned it will impact their TBC or TSB and reduce their ability to make other contributions.

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ASIC, financial advice, Financial Planning

ASIC levy to rise past $3000

ASIC adviser levy

The financial adviser levy charged by ASIC will climb past the level that led to the previous government imposing a two-year freeze on the industry funding applied by the regulator.

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Pensions

Use pension payment workaround sparingly

Minimum pension payments must be made by the end of this week and while workarounds exist, they should only be used as a last resort.

Minimum pension payments must be made by the end of this week and while workarounds exist, they should only be used as a last resort.

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Compliance, financial advice, Financial Planning

Compensation scheme to start next year

Compensation scheme last resort

A compensation scheme of last resort will be in operation by early next year, but questions have been raised about its coverage and funding model.

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ATO, Pensions, SMSF

Pension restructure needs approval

Pension restructure ATO

SMSF members restructuring a pension that has an excess transfer balance should wait for ATO approval before making any commutations from the pension.

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Contributions, Insurance

Act quickly on injury payment contributions

personal injury contributions

SMSF members must act quickly when using a personal injury settlement payment as a contribution as delays will cause it to breach the non-concessional cap.

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Investments, Platforms, SMSF

BT to retain platform business

BT platform

Six months after it shuttered its SMSF administration service, BT has announced it has closed the sale process and will retain its Panorama investment platform.

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NALI/NALE

Govt releases NALE draft bill

NALE draft bill

The government has released a draft bill detailing its handling of non-arm’s-length expenditure, with the SMSF Association claiming current laws already address the issue.

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