Articles by Jason Spits

ATO, Compliance, Superannuation

ATO issues scam alert

Early superannuation release schemes

The ATO has continued to warn SMSF members of schemes and promoters that target their funds to engage in activities that breach superannuation laws.

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Compliance, NALI/NALE, Regulation, SMSF, SMSFA

Repeal NALE or fix related issues

NALE

The SMSF Association has called on the government to repeal the NALE provisions or provide solutions to further problems they will create.

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Auditing

SMSF Auditors Association rebrands

The SMSF Auditors Association of Australia has changed its name to provide support to and represent auditors outside the SMSF sector.

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NALI/NALE, Property

Undervalued trust units a NALI risk

trust NALI

SMSFs purchasing low value stakes in interposed entities to develop property will need to prove they were at market value to avoid breaching NALI provisions.

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ATO, Property

Home purchase schemes a concern

ATO residential property scheme SMSF

Schemes promoting the use of an SMSF to purchase a residential home for use by fund members have been flagged by the ATO as likely breaching a number of superannuation laws.

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ETFs

Global X launches commodity ETF

Global X commodity ETF

Global X has partnered with Bloomberg to release a commodity focused ETF designed to have a low correlation with equity and bond prices.

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financial advice, Regulation, SMSFA

Levy to address SMSFA tech summit

Quality of advice review

The author of the Quality of Advice Review report Michelle Levy will unpack the government’s response to it at this year’s SMSF Association Technical Summit.

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SuperStream

ESA providers to merge

ESA providers merge

Two electronic service address (ESA) providers will merge requiring SMSFs using their messaging services to update their details with the ATO.

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ATO, NALI/NALE

ATO highlights property, lending scheme danger

ATO property lending scheme

The ATO has warned SMSF members to avoid early release and tax avoidance schemes noting many of these are related to property and lending within a fund.

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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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