Articles by Jason Spits

ASIC

Super rollover firms have assets frozen

Two firms linked to a company that used telemarketers to promote rollovers to SMSFs have had their assets frozen as ASIC investigates their actions.

Two firms linked to a company that used telemarketers to promote rollovers to SMSFs have had their assets frozen as ASIC investigates their actions.

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Pensions

Smarter SMSF opens legacy pension hub

Smarter SMSF, legacy pensions, Legacy Pension Hub, commutation, market-linked pensions, lifetime complying pensions, life expectancy complying pensions, reserve allocations, Aaron Dunn, SMSF deed, Tim Miller, market-linked pension, lifetime complying pension, life expectancy complying pension

Smarter SMSF has developed a hub for resources to assist in the commutation of legacy pensions, linking it to the platforms of major administrators.

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Investments

Real estate trusts overlooked

SMSF, real estate investment trusts, REIT, LaSalle Investment Management Securities, Matthew Sgrizzi, income return, interest rates

Real estate investment trusts have been overlooked due to the noise generated by a handful of technology stocks, but the sector is primed for a strong period of returns.

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ATO, Auditing, Compliance

Trustees should be proactive with breaches

Trustees who have a contravention in their fund should be proactive in providing information about the mistake, its rectification and the action they have taken to prevent a reoccurrence.

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Investments

Advised SMSFs see better share trades

Advised SMSFs have generated better value on their share trades as the overall number of funds trading online increases.

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Legislation, SMSF, Superannuation

Adviser loses ban appeal

A Melbourne-based adviser, first flagged over dishonest conduct nearly a decade ago, has lost an appeal to have his conviction and imprisonment overturned.

A Melbourne-based adviser, first flagged over dishonest conduct nearly a decade ago, has lost an appeal to have his conviction and imprisonment overturned.

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Death benefits, Insurance, Legislation, SMSF, Superannuation

Caution needed with terminal illness benefits

SMSF practitioners should not adopt common rollover or pension strategies with terminal illness benefits as they should probably exit the super system.

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Retirement, Superannuation

Super release condition decision simplified

The decision on whether a superannuant has met a retirement condition of release has been simplified with the shift of the preservation age to 60.

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ATO, fraud, Superannuation

ATO flags adviser role in illegal access

The ATO’s estimate of funds being illegally accessed from SMSFs has fallen, but it has identified advice telling people how to hide this behaviour using loans to members.

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Auditing, NALI/NALE

Audits must ring-fence NALI risk

A significant number of SMSF trustees may be adversely affected by a recent AFCA determination regarding the wholesale investor definition.

Auditors should be clear they will not be liable for any historical NALI-related issues and have that stated in all client documentation.

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