Articles by Jason Spits

Administration, ATO, SMSF

Don’t ignore ATO contact

SMSF registration process Establishment ATO contact Trustee declaration

Trustees of new SMSFs should be aware the ATO may contact them and it is vital they respond to ensure their fund is registered with the regulator.

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financial advice, Superannuation, Tax

Double standard must end

SMSF Association pre-budget submission superannuation financial advice fees tax deductibility

The double standard in the treatment of SMSFs compared to APRA-regulated funds must end, including in regards to the deductibility of financial advice fees.

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Contributions, Superannuation

Make general TBC a threshold standard

Transfer balance cap proportionate indexation Superannuation The Tax Institute Institute of Financial Professionals Australia

The general transfer balance cap should be applied to all super fund members and used as the basis for setting and raising other thresholds.

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Death benefits

Remove lump sum restrictions

Death benefit lump sum limits IFPA Institute of Financial Professionals Australia Pre-budget submission

Limits on the number of death benefit lump sums from superannuation are restrictive and should be removed to prevent breaches of the super regulations.

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SMSF, Superannuation

SMSFs top member satisfaction again

SMSF Member Satisfaction Roy Morgan

SMSFs were the only part of the superannuation sector to record a positive level of satisfaction in a recent survey of fund members.

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ASIC, financial advice

Exam changes to be implemented

ASIC Financial adviser exam

Changes to the content of the financial adviser exam proposed by the government will go ahead and apply to the next sitting in March.

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Retirement, SMSF, Superannuation

Definitions key to avoid retirement confusion

Superannuation Retirement definition Financial adviser Accountant Auditor Heffron Leigh Mansell

SMSF practitioners are confusing the definition of retirement for superannuation purposes, but need to be aware there are two ways to view this event taking place.

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Contributions, Superannuation, Tax

Tax cuts offer super boost

stage three tax cuts superannuation balance concessional non-concessional contribution

Proposed tax cuts later this year will allow superannuants to boost their balances without adversely impacting their cash flow.

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ASIC, financial advice

Adviser registration deadline extended

ASIC registration Deadline Extension Financial advisers

ASIC has given a final deadline extension deadline for adviser registration to avoid the end of the summer holiday period.

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Compliance, Death benefits, Superannuation, Tax

Non-cash payouts can be a great solution

ATO Death benefit member benefit Superannuation benefit Redemption of investments

A recent ATO private ruling regarding death benefits could have had a different outcome if an alternate redemption process had been used.

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