Articles by Jason Spits

ASIC, financial advice

Online-only adviser exam dates released

online adviser exams

ASIC has released the dates on which it will conduct adviser exams in 2023, noting they will only be offered remotely.

read more
Insurance

Evidence central to incapacity claim

incapacity condition of release

Trustees should seek strong medical evidence a member is incapacitated before allowing them to access benefits.

read more
Documentation

Director ID application window extended

Director ID extended

The ATO will not penalise company directors who did not meet today’s deadline to apply for a director ID if they apply by mid-December.

read more
ASIC, Auditing

ASIC acts against six SMSF auditors

ASIC SMSF auditors

ASIC has taken action to remove five SMSF auditors from practice and imposed conditions on another auditor following referrals from the ATO.

read more
Accounting

Downsizer reduction passes parliament

Downsizer reduction

A further reduction in the eligibility age to make downsizer contributions has passed through parliament and may take effect by the start of next year.

read more
financial advice

QAR reforms to benefit millions

QAR benefit

The Quality of Advice Review proposals will by 2040 benefit 2 million retirees and boost retirement spending by billions.

read more
Documentation

Director ID extension likely

Director ID extension

An extension to apply for the director ID is likely due to the process involved and the large numbers of people yet to meet the deadline.

read more
Property

Review business real property status

business real property status

The status of business real property is not set once, but will vary dependent on use and should be reviewed annually.

read more
LRBA

Time right for LRBA refinancing

LRBA refinancing

SMSF practitioners should be looking at the interest rates on clients’ LRBAs as many may be suitable for refinancing at lower rates.

read more
ATO, Documentation

ATO encourages early reporting

ATO early reporting

SMSFs should make early reports of events that impact a member’s transfer balance account which creates more clarity around the fund’s status.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.