Articles by Jason Spits

Superannuation

SMSFs yield competitive returns

SMSF performance APRA

SMSF performance against APRA funds has been skewed by reporting methods and funds with balances above $200,000 perform as well as their non-SMSF counterparts.

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Investments, Technology

OpenInvest signs wealth firm to platform

OpenInvest platform

OpenInvest has partnered with a boutique advice firm to provide access to its digital investment platform for clients with simple investment needs.

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Regulation

Budget super measures pass parliament

superannuation parliament

A number of key measures from the last budget have passed through parliament, while others remain in limbo before the next election.

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Regulation, Retirement

Retirement Income Covenant becomes law

retirement income covenant

Superannuation funds will be required to provide strategies to members on how they can use their funds in retirement as the long-awaited covenant becomes law.

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ATO, Technology

ESA upgrade not mandatory

ESA update

SMSFs can keep using their electronic service address without being forced to update it as long as rollovers are not required.

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Retirement

Inflation increases retirement living standard

inflation retirees living standard

The cost of living for retirees increased by the highest rate for a decade during 2021 due to price rises on non-discretionary purchases.

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Administration, Superannuation

Withdrawals raise asset questions

SMSF accidental withdrawal

An accidental withdrawal from an SMSF may not be seen as a loan to a member, but will raise questions around the separation of assets.

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Property, Tax

Payment type irrelevant for property sale CGT

property transactions CGT

Large-value property transactions must clear CGT withholding rules regardless of whether they are made in cash or in specie.

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Strategy, Superannuation

Rapid reserves drawdown possible

SMSF reserves drawdown

The speedy drawdown of reserves in an SMSF is possible by introducing new members with large balances or breaching cap rules.

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Estate Planning

Address death benefits at fund set up

death benefits establishment

The best time to address the payment of death benefits for SMSF members is at the time of the fund’s creation.

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