Articles by Jason Spits

financial advice, Financial Planning

CSLR needs reform, not extra levy

An additional levy on advisers to fund the CSLR is a band-aid solution, when the compensation scheme needs to be urgently reformed.

An additional levy on advisers to fund the CSLR is a band-aid solution, when the compensation scheme needs to be urgently reformed.

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ATO, SMSF, SMSFA

Demographic sector shift continues

The SMSF sector has continued to expand, with ATO statistics showing the shift to younger member establishments continuing.

The SMSF sector has continued to expand, with ATO statistics showing the shift to younger member establishments continuing.

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Administration, Strategy

Trustee structure no lump sum barrier

An SMSF has the ability to pay lump sums to its members regardless of the trustee structure it is using, with guidance on this unchanged for decades.

An SMSF has the ability to pay lump sums to its members regardless of the trustee structure it is using, with guidance on this unchanged for decades.

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ASIC, financial advice, Financial Planning, Property

SMSF property advice leads to ban

An adviser who recommended the use of SMSFs for property investments has been banned for not acting in his clients’ best interests.

An adviser who recommended the use of SMSFs for property investments has been banned for not acting in his clients’ best interests.

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ATO, Auditing, Compliance

Lost declaration treatment clarified

The ATO has given SMSF auditors some surety around addressing the absence of missing trustee declarations, but more guidance is being sought.

The ATO has given SMSF auditors some surety around addressing the absence of missing trustee declarations, but more guidance is being sought.

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ASIC, Compliance, financial advice, Financial Planning

Further Shield adviser action sought

ASIC is looking to pursue further action against an adviser involved in the failed First Guardian and Shield master funds.

ASIC is looking to pursue further action against an adviser involved in the failed First Guardian and Shield master funds.

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Retirement, SMSF

Retirement may cause illegal access

SMSF members must understand what it means to retire under superannuation law to avoid illegally accessing their retirement benefits.

SMSF members must understand what it means to retire under superannuation law to avoid illegally accessing their retirement benefits.

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ATO, Compliance, Documentation

ATO focused on late returns, early access

SMSFs with outstanding annual returns will come under greater scrutiny from the ATO, which is concerned by a rise in late lodgements.

SMSFs with outstanding annual returns will come under greater scrutiny from the ATO, which is concerned by a rise in late lodgements.

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ASIC, Compliance, financial advice, Financial Planning

ASIC cancels licence over Shield advice

ASIC has cancelled an advice firm’s licence and banned two senior staff for recommending clients move super into the Shield Master Fund.

ASIC has cancelled an advice firm’s licence and banned two senior staff for recommending clients move super into the Shield Master Fund.

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