Articles by Jason Spits

Investments

Better strategies being adopted

investment strategy SMSF

SMSF trustees are factoring in the need for more complete investment strategies following pressure from auditors and the ATO.

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Contributions

TSB calculation can create NCC space

total super balance NCC

Basing the total super balance off the account balance only may deny some fund members the opportunity to make a non-concessional contribution.

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Documentation

Stock documents proven unsuitable

SMSF bespoke documents

The repeated use of the same trust or binding nomination document is untenable after a recent court case proved the value of a bespoke document.

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Accounting, Investments

Give accountants freedom to talk investments

Accountants investment advice

Qualified accountants should be free to talk more generally about the investment needs of SMSFs.

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ATO, Contributions

Unused caps splittable, but restricted

concessional contributions split

SMSF members can split a carry-forward concessional contribution, but the ATO will determine the year with which the unused cap is associated.

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Contributions

Changes boost recontribution strategy appeal

recontribution strategy SMSF

The usefulness of a withdrawal and recontribution strategy has increased due to the combination of a number of superannuation changes.

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Documentation, Estate Planning

Special powers reduce attorney risks

power attorney SMSF

A special power of attorney has the ability to reduce risks and conflicts that can arise from the use of an enduring power of attorney.

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Technology

SuperConcepts adds Mason Stevens data feed

SuperMate Mason Stevens

Investment platform Mason Stevens has been added to incoming data feeds available to SuperMate users.

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ASIC

ASIC takes action against eight auditors

ASIC SMSF auditors

ASIC has taken compliance action against a further eight SMSF auditors by deregistering five and imposing conditions on three between March and June this year.

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ATO

ATO releases SMSF wind-up guide

ATO SMSF guide

The ATO has released a guide to assist SMSF trustees in winding up their funds and is encouraging them to plan ahead for this event.

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