Articles by Jason Spits

ATO disqualifies 250 trustees in past year

September 26, 2022

More than 160 SMSF trustees were disqualified in the second half of the last financial year, with more than 250 disqualified across the whole year.

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Contributions

Partial property sales eligible for downsizer

September 21, 2022

Jason Spits

Partial property sales can be used to make a downsizer contribution, but carving up land for the same purposes will not create eligible contributions.

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Auditing

Next SAN misuse mail-out in October

September 21, 2022

Jason Spits

The ATO will continue its work on clamping down on SMSF auditor number misuse with its next mail-out to auditors starting next month.

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Pensions

TBC rise may be frozen

September 20, 2022

Jason Spits

Budget pressures may head off any increase to the transfer balance cap with the government imposing a freeze to recoup some tax savings.

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Appointments

SMSFA expands tech services

September 20, 2022

Jason Spits

The SMSF Association has added new material to its technical content library and another member to it technical services team.

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ATO, Tax

Do hours first to meet work test

September 19, 2022

Jason Spits

SMSF members should do the actual work required to meet the work test before claiming any contribution deductions that may rely on passing it.

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Education

Specialist education will improve SMSF advice

September 19, 2022

Jason Spits

Specialised education for SMSF advisers will shield the sector from spruikers and advisers without proper knowledge, according to the SMSF Association.

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ATO, Compliance