Articles by Jason Spits

Agency agreement central for building work

August 2, 2022

SMSFs can use a related-party builder for construction work, but must have clear arrangements around the purchase of materials and terms of the contract.

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ASIC

Adviser banned for early release advice

August 2, 2022

Jason Spits

ASIC has banned an adviser who recommended clients use an SMSF to gain illegal early access to their superannuation.

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SuperStream

Simple SuperStream errors avoidable

August 1, 2022

Jason Spits

SMSFs are breaching SuperStream compliance rules for simple avoidable reasons stemming from a lack of understanding of the rollover process.

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Administration, SuperStream

Flagging SuperStream breaches vital

July 28, 2022

Jason Spits

SMSFs should document why outgoing rollovers may not be compliant with SuperStream rules to mitigate the possibility of penalties.

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Investments

Trustee expertise must fit under rules

July 28, 2022

Jason Spits

Trustees can use their own expertise to formulate an investment strategy, but still have to provide reasons for any large positions they may hold.

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Appointments

SMSF Association CEO to move on

July 27, 2022

Jason Spits

SMSF Association chief executive John Maroney will step down in 2023, with his deputy set to succeed him.

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Documentation, Estate Planning

Special rules can protect ageing members

July 27, 2022

Jason Spits

The increase in the wealth of some SMSF members may require special deed rules to protect their interests as they get older.

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Accounting

Hardship access is fund responsibility

July 27, 2022

Jason Spits

Super funds have been reminded they are responsible for deciding if a member can access funds early due to financial hardship, but the criteria is very limited.

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Superannuation