Articles by Jason Spits

Accounting

New reporting timeframe for commutations

pension commutation reporting

SMSF members with commuted pensions must pay attention to new reporting dates to ensure any tax is correctly calculated.

read more
Financial Planning, Regulation

Specialist SMSF advice training a must

SMSF specialist advice training

SMSF advice should only be given by those with specialist training and this should be a mandatory requirement under any further advice reforms.

read more
BDBNs

SMSF BDBNs ruled as non-lapsing

BDBNs non-lapsing

BDBNs within an SMSF are not subject to lapsing rules, according to a High Court ruling that follows four other legal cases with similar findings.

read more
Financial Planning, Technology

Padua releases robo-advice solution

Padua robo-advice

Following on from the appointment of two senior staffers, Padua has released a new time-saving robo-advice offering.

read more
Technology

Map out cybersecurity processes

SMSF cyber-security

SMSF advisers and trustees must be clear about what cybersecurity processes are in place and should not merely accept them on face value.

read more
Investments

ASIC issues guidance to prevent greenwashing

ASIC greenwashing

Investment managers and super funds have been provided with guidance to ensure any sustainability-related products they offer are not engaging in greenwashing.

read more
ATO, NALI/NALE

NALE compliance stance extended

ATO NALE compliance

The ATO will continue its practice of not deploying compliance resources to address non-arm’s length expenditure breaches of a general nature.

read more
ASIC, Financial Planning

ASIC outlines adviser warning conditions

ASIC adviser warnings

ASIC has outlined when it will issue a warning to a financial adviser for poor conduct and noted these will also be passed on to their licensee.

read more
Contributions

Crunch numbers correctly for Div 293

Division 293 concessional contributions

The prospect of paying excess tax on concessional contributions due to Division 293 means advisers should consider all factors that shape a client’s taxable income.

read more
Trusts

Lag in trust entitlements receipt risky

SMSF trust entitlements

SMSFs should ensure they receive any entitlement from a trust before the end of the financial year to avoid in-house asset breaches and trust failures.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.