Articles by Jason Spits

Administration, SuperStream

Flagging SuperStream breaches vital

SuperStream breaches

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

trustee investment expertise

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

SMSF Association chief executive

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

special rules SMSF

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

hardship access superannuation

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

Preserved components create opportunities

preserved benefits superannuation

The preserved nature of superannuation benefits creates planning opportunities for members receiving a split from their former spouse.

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AFCA, Appointments

AFCA adds ex-ASIC executive to board

AFCA Rickard

AFCA has appointed the outgoing deputy chair of the ACCC, who is also a former ASIC senior executive, to its board.

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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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