Articles by Jason Spits

Contributions

Recontribution order can shift tax position

recontribution strategy order

A change in the order of a pension drawdown and recontribution strategy may be beneficial to reduce and maximise transfer balance caps.

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Appointments

SuperConcepts promotes long-serving staff

SuperConcepts promoted

Two long-serving SuperConcepts staff members have been promoted to more senior roles following the release of the firm’s updated SuperMate software.

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Investments

Better strategies being adopted

investment strategy SMSF

SMSF trustees are factoring in the need for more complete investment strategies following pressure from auditors and the ATO.

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Contributions

TSB calculation can create NCC space

total super balance NCC

Basing the total super balance off the account balance only may deny some fund members the opportunity to make a non-concessional contribution.

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Documentation

Stock documents proven unsuitable

SMSF bespoke documents

The repeated use of the same trust or binding nomination document is untenable after a recent court case proved the value of a bespoke document.

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Accounting, Investments

Give accountants freedom to talk investments

Accountants investment advice

Qualified accountants should be free to talk more generally about the investment needs of SMSFs.

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ATO, Contributions

Unused caps splittable, but restricted

concessional contributions split

SMSF members can split a carry-forward concessional contribution, but the ATO will determine the year with which the unused cap is associated.

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Contributions

Changes boost recontribution strategy appeal

recontribution strategy SMSF

The usefulness of a withdrawal and recontribution strategy has increased due to the combination of a number of superannuation changes.

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Documentation, Estate Planning

Special powers reduce attorney risks

power attorney SMSF

A special power of attorney has the ability to reduce risks and conflicts that can arise from the use of an enduring power of attorney.

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Technology

SuperConcepts adds Mason Stevens data feed

SuperMate Mason Stevens

Investment platform Mason Stevens has been added to incoming data feeds available to SuperMate users.

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