Articles by Jason Spits

Contributions

Contribution splitting a slow-burn strategy

spouse contribution splitting

Spouse contribution splitting strategies can be useful for couples, but their impact is not immediate and can take several years to be seen.

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Trusts

Tread carefully on overpaid present entitlements

SMSF overpaid present entitlement

SMSFs receiving an overpaid present entitlement must step carefully to prevent it being treated as a borrowing and breaching superannuation law.

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ATO

ATO warns against asset protection scheme use

asset protection scheme

The ATO has warned SMSF trustees to avoid using schemes that offer to protect assets within their fund via the use of an external trust.

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financial advice

Advice practices focused internally to survive

advice practices improvements

Improvements to the operation of their own business has helped advice practices to survive regulatory change, according to a new survey.

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Property

Future value of property needs disclosure

SMSF future value

SMSFs purchasing property earmarked for development should have it valued for its future worth to prevent breaching acquisitions valuation rules.

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LRBA

LRBA warnings still valid

LRBAs risks

Financial advisers should still warn clients about the risks of LRBAs despite a recent report stating they were relatively safe.

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ATO, Retirement

Tax-avoidance via SMSFs targeted

SMSFs tax avoidance

Retirement planning schemes using SMSFs to avoid tax have been listed as an area of concern and action for the ATO.

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Compliance

Penalty unit rise boosts corporate trustee case

penalty unit corporate trustee

The increases in penalty units during this year have strengthened the case for SMSFs to use a corporate trustee structure.

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ATO

Quarterly TBAR lodgement encouraged now

Quarterly TBAR

The ATO has encouraged SMSF trustees to begin the practice of lodging TBARs quarterly despite the requirement not commencing for six months.

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Appointments

Accurium promotes Dunn to senior role

Accurium Dunn

Accurium has promoted one of its long-serving senior staffers to a new leadership role within the group overseeing its SMSF training and actuarial services.

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