Articles by Jason Spits

Property, Trusts

Unit trust loans may fail sole purpose test

trust loans sole purpose

Using loans from a unit trust to allow SMSF trustees to purchase property which is then secured by a mortgage is likely to breach the sole purpose test.

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ETFs

ETFs to increase presence in portfolios

ETFs SMSF portfolios

SMSF are likely to increase their exposure to ETFs as new research shows they are the favoured vehicle for many investors.

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Business News

Wishing you a Merry Christmas

Merry Christmas

The team at selfmanagedsuper wishes all of our readers a very Merry Christmas and a happy, healthy and prosperous New Year.

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Investments

SMSFs account for 20 pct of ETF investments

SMSFs ETF investments

SMSFs account for around 20 per cent of ETF investments, with that number growing as the ETF market heads toward 2 million investors.

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Auditing

Pay heed to auditor requests

SMSF auditor information

SMSF trustees should provide auditors with information they need to meet audit standards which demand high levels of compliance.

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ATO, Compliance

Voluntarily disclose unfixable problems

SMSF voluntary disclosure

SMSF trustees should not hide unfixable problems with their fund, but via voluntary disclosure inform the ATO before it finds the problem.

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Downsizer, Pensions

Downsizer may clash with asset test

downsizer asset test

A number of changes related to downsizer contributions and asset test exemptions may reduce pension entitlements if used incorrectly at the same time.

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ATO, SuperStream

ATO highlights corporate trustee benefits

ATO corporate trustee

The ATO has highlighted the difference between SMSF trust structures and emphasised a corporate trustee has key advantages over individual trustees.

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Pensions, Strategy

Consider CSHC test with pension change

CSHC income test pension

SMSF practitioners should be cautious about pension changes that could negatively interact with new thresholds for the CSHC.

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financial advice, Tax

ATO to review tax deductibility of advice

ATO tax deductibility advice

The ATO will review the tax deductibility of financial advice fees and revise its 27-year-old stance on the matter, a move that has been welcomed by the FPA.

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