Articles by Jason Spits

Superannuation, Tax

Super tax threshold not negotiable

Superannuation earnings tax

The superannuation earnings tax is all but locked in and highly unlikely to change, with officials stating key aspects were non-negotiable.

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Auditing

Trustee status information lacking

smsf trustee status

SMSF auditors are having to rely on trustees self-declaring they are not disqualified as official registers have not been updated in months.

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ATO, Compliance

Private tax ruling guidance released

ATO private ruling

The ATO has outlined the steps needed to apply for a private ruling but emphasised accurate and complete data was critical for it to properly assess any ruling request.

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financial advice, Financial Planning, Regulation

Drop separate labelling of advisers

labelling advisers education

The labelling of advisers based on their education pathway is confusing for consumers and should be relegated to advice documents and marketing material.

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financial advice

Digital advice requires human element

digital advice

The definition of digital advice should also include the involvement of humans and the development of hybrid models rather than purely technology driven services.

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financial advice, SMSF, Superannuation

SMSF advice a possibility from APRA fund

SMSF advice

Calls to allow APRA-regulated funds to provide advice may mean they also have to consider a member’s SMSF benefits in the circumstances of that advice.

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ATO, Compliance, SMSF

Loss no reason to ignore compliance order

financial loss ATO order

Financial loss will not be considered a key reason for an SMSF to avoid following a contravention rectification order issued by the ATO.

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SMSF, Superannuation, Tax

Super changes benefit unions, ALP

Superannuation changes unions

Proposed changes to super will benefit union-owned industry funds, which support the government introducing these measures, an SMSF industry veteran has claimed.

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ETFs, Investments

VanEck releases treasury bond ETF

VanEck US treasury bond ETF

VanEck is set to list its 33rd ETF for the Australian market with the release of a short-term US treasury bond fund.

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ATO, Compliance, SMSF

Regulator reminds trustees of release process

ATO release reminder

The ATO has reminded trustees they are required to respond to requests from members to release funds and has detailed the processes it expects will be used.

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