Articles by Jason Spits

Treasurer outlines govt super agenda

August 24, 2022

Treasure Jim Chalmers has outlined key areas for change in the superannuation sector, but has appeared to contradict one of his colleagues with his comments.

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Documentation

Self-made templates poor practice

August 23, 2022

Jason Spits

SMSF practitioners crafting their own fund documents should question if they are doing their clients and practice a disservice.

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Cryptocurrency

Govt to create crypto-asset regulation map

August 23, 2022

Jason Spits

The crypto-asset sector will be mapped to allow the government to regulate its operation and put in place consumer protections.

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LRBA

Keep flow-through loans separate

August 22, 2022

Jason Spits

An SMSF can borrow from another entity that has also borrowed money as long as each arrangement is kept separate from the other.

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Business News, Trusts

Equity Trustees to buy AET

August 22, 2022

Jason Spits

Equity Trustees will acquire Australian Executor Trustees, with the combined operations to exit the SMSF space after the conclusion of the deal.

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SuperStream

SuperStream window needs education push

August 18, 2022

Jason Spits

Trustees need to be informed of the work required to complete a SuperStream rollover before it is requested to ensure it is completed on time.

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Retirement

Petrol drives up cost of living

August 18, 2022

Jason Spits

Increases in the prices of petrol and health insurance were key drivers in a rise in the cost of living for retirees in the June quarter.

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ATO, Compliance

Disclosure must accompany action

August 17, 2022

Jason Spits

SMSFs making a voluntary disclosure regarding a breach should also have evidence of work undertaken to fix the problem and prevent more issues occurring.

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Property

Late-stage property timing mismatch

August 17, 2022

Jason Spits

Property purchases during the latter part of the life cycle of an SMSF may not meet the sole purpose test.

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LRBA

Total LRBA contract needs checking

August 16, 2022

Jason Spits

SMSFs seeking evidence a related-party LRBA interest rate is on commercial terms should also check the entire borrowing contract falls under the same standard.

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