Articles by Jason Spits

Pensions

Pension threshold move may impact cash flow

minimum pension thresholds

The return to full rates for minimum pensions may be accompanied by a change in thresholds for some pensioners, creating a need for greater cash flow in the coming financial year.

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NALI/NALE

NALE expense figures still absent

NALE general expense

The budget measure to change the NALE tax regime still requires the release of benchmark general expenses figures to give certainty as to how it will operate.

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ETFs, Investments

JP Morgan expands income ETF range

JP Morgan income ETF

JP Morgan has added three new funds to its income-focused ETF range, with hedged options available to reduce currency fluctuations.

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Superannuation, Tax

Super tax threshold not negotiable

Superannuation earnings tax

The superannuation earnings tax is all but locked in and highly unlikely to change, with officials stating key aspects were non-negotiable.

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Auditing

Trustee status information lacking

smsf trustee status

SMSF auditors are having to rely on trustees self-declaring they are not disqualified as official registers have not been updated in months.

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ATO, Compliance

Private tax ruling guidance released

ATO private ruling

The ATO has outlined the steps needed to apply for a private ruling but emphasised accurate and complete data was critical for it to properly assess any ruling request.

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financial advice, Financial Planning, Regulation

Drop separate labelling of advisers

labelling advisers education

The labelling of advisers based on their education pathway is confusing for consumers and should be relegated to advice documents and marketing material.

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financial advice

Digital advice requires human element

digital advice

The definition of digital advice should also include the involvement of humans and the development of hybrid models rather than purely technology driven services.

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financial advice, SMSF, Superannuation

SMSF advice a possibility from APRA fund

SMSF advice

Calls to allow APRA-regulated funds to provide advice may mean they also have to consider a member’s SMSF benefits in the circumstances of that advice.

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ATO, Compliance, SMSF

Loss no reason to ignore compliance order

financial loss ATO order

Financial loss will not be considered a key reason for an SMSF to avoid following a contravention rectification order issued by the ATO.

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